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Benefits of an ASP loan for first-time buyers

The ASP scheme offers a range of benefits to support you in buying your first home. 

  • Free interest subsidy for the first 10 years – if the interest rate on an ASP loan exceeds 3.8%, the state will pay 70% of the excess amount of interest. In other words, interest subsidy refers to the part of your loan interest paid by the state.
  • Free state guarantee for an ASP loan – covers up to 25% of the loan. We will agree with you separately on the guarantee during the loan negotiation.
  • Lower margin – the margin on an ASP loan is lower than on a corresponding regular home loan for a first-time homebuyer.

How to obtain an ASP loan from us – first start saving in an ASP account

Start saving in an ASP account well in advance of shopping for your first home. You can open an ASP account if you are at least 15 years old and have never bought 50% or more of any property.

Once you have accumulated ASP savings equivalent to 10% of the purchase price of the home you plan to buy, you can apply for an ASP loan. If the ASP loan is not sufficient for buying the home, you can apply for an additional loan.

The home to be bought with the ASP loan must be located in Finland and you must buy a share of at least 50% of the home. You can’t take an ASP loan for buying an unbuilt plot or a right-of-occupancy flat.

Read more about ASP accounts

Apply for an ASP loan using our home loan application

Start by making a preliminary loan calculation and proceed directly to the home loan application. We will contact you and agree on an appointment for a loan negotiation after you have submitted your home loan application. 

In the loan negotiation, we will discuss the amount of the ASP loan, the loan period, the interest rate and any other questions you may have concerning buying your first home.

You can choose whether to take out an ASP loan with a free interest subsidy (an interest-subsidised ASP loan) or to add an interest rate hedge provided by us to your ASP loan. In addition, you can get a free state guarantee.

Read more about loan negotiations

Apply for a home loan

Make a preliminary calculation and apply

The interest rate on an interest-subsidised ASP loan is lower than on comparable home loans

The interest rate on an ASP loan consists of the margin and the reference rate. We will agree on the margin in the loan negotiation, and the reference rate is determined according to the general interest rates prevailing at the time you take out the loan. 

You will get a lower margin if you buy your first home with an interest-subsidised ASP loan than if you buy it with a regular home loan.

Read more about interest rates on home loans

The maximum amount for an interest-subsidised ASP loan depends on the home’s location and the number of applicants

The maximum amounts for ASP loans depend on whether you are buying a property on your own or together with another ASP borrower, as well as whether you choose to include the interest subsidy provided by the state for 10 years. 

The maximum amounts for interest-subsidised ASP loans depend on the property and its location.

You can complement the ASP loan with an additional loan

If the price of the home you’re planning to buy exceeds the maximum amount of the ASP loan, you can apply for an additional loan. The maximum amount of an ASP loan is calculated by multiplying the amount of your ASP savings by nine. The maximum loan amount also depends on where the home you’re buying is located. 

The ASP loan and the additional loan may together amount to no more than 90% of the home’s purchase price. Please note that the additional loan will have the same terms and conditions as a regular home loan.

You can obtain a state guarantee for the additional loan in the same way as for the ASP loan. The guarantee may not exceed 25% for each loan. The guarantee for the ASP loan is free of charge, but you will have to pay a fee for the guarantee for the additional loan. The maximum amount of the guarantee is 60,000 euros for one home.

Read more about state guarantee

Maximum amounts for interest-subsidised ASP loans from 1 June 2026

Individual applicant for an ASP loan

  • Greater Helsinki Area, Tampere, Turku and Oulu 230,000 euros
  • Other municipalities 160,000 euros

Two joint applicants for an ASP loan

  • Greater Helsinki Area, Tampere, Turku and Oulu 345,000 euros
  • Other municipalities 240,000 euros

The Greater Helsinki Area consists of Helsinki, Espoo, Vantaa and Kauniainen.

Changes to ASP loans from 1 June 2026
Terms and conditions
Prices

Changes to ASP loans from 1 June 2026

Important changes to ASP loans from 1 June 2026:

  • You can choose either a free interest subsidy or an interest rate hedge provided by us, as well as a free state guarantee for your ASP loan.
  • You can apply for a repayment holiday on an ASP loan for up to four years in total. The maximum length of an uninterrupted repayment holiday is two years at a time. With repayment holidays, the overall loan period can be extended to up to 29 years.
  • The regional maximum loan amounts will be simplified. The maximum amounts for interest-subsidised ASP loans will be the same in the Greater Helsinki Area, Tampere, Turku and Oulu.

Read more about the ASP scheme on the State Treasury’s website.

Foreign currency credit

Consumers are not granted loans in any other currency than euro.

A housing loan is considered to be currency credit if the loan is granted in a foreign currency other than that of the EU Members State or the state of belonging to the European Economic Area where the consumer resides. Furthermore, a housing loan is considered to be foreign currency credit if the consumer receives his or her income in another currency of a state of the European Economic Area or in currency of a state of European Economic Area. 

A foreign exchange risk occurs when the borrower's income or assets to be used to repay the credit are not in the same currency as the credit or the credit is not in the currency of borrower's country of residence. A foreign exchange risk refers to the change in price of one currency in relation to another. During the loan period, the value of the credit or the monthly payment may increase in relation to the borrower's income or assets or the currency of the borrower's country of residence. 

If the foreign currency of the borrower's country of residence, income or assets falls by 20 per cent in relation to the euro, the borrower receives a warning that the borrower's loan amount will increase in borrower's national currency.

Interest and fees on an ASP loan

The biggest expenses in a home loan consist of the loan margin you have negotiated and the reference rate you have chosen, such as the 12-month Euribor. However, a home loan often includes other smaller expenses, including an initial opening fee or repayment fees. The total of all these costs is expressed through the annual percentage rate of charge (APR). 

Read more about Euribor rates

Example of an ASP loan and the annual percentage rate of charge (APR)

From 1 June 2026, you can qualify for an ASP loan once you have made at least 20 monthly deposits of between 50 and 1,500 euros into your ASP account. If you have opened your ASP account before 1 June 2026, you can continue saving with quarterly deposits, making at least eight deposits between 150 and 4,500 euros per quarter. The deposits do not have to be made in consecutive months or quarters.

The maximum amount you can borrow is 9 times your ASP savings, but no more than 90% of the purchase price of your home. In addition, the municipality where the home is located affects the amount of the interest-subsidised ASP loan.

Example of an ASP loan:

You take out a loan of 127,000 euros. The loan period is 24 years and the interest rate is 3.14% (March 2026). The APR is 3.3%, including an opening fee of 508 euros and a monthly fee of 2.50 euros for the automatic debiting of loan payments. The number of payments is 288. The total amount of the loan and loan costs is 182,978 euros. The monthly payment (annuity) is 631 euros.

The amount of the loan, the loan period and the interest are a representative example for ASP loans offered by Nordea. The example, however, is only indicative and has been calculated using certain assumptions. This example of an ASP loan does not necessarily correspond to the actual APR charged on the loan granted to you.

You can check the fees and prices of our home loans from our tariff below.

Common fees on home loans
ItemPrice

Arrangement fee

An arrangement fee is charged in connection with the first drawdown and with a raise or renewal of a loan.

0,4% but at least 300 €
Increased arrangement fee for a loan with a third-party pledge or guarantee
The increase is not applied to interest-subsidised ASP loans		100,00 €
Partial drawdown30,00 €
Automatic debiting of repayments of loans drawn down before 1 February 2021, per debit2,30 €
Automatic debiting of repayments of loans drawn down after 31 January 2021, per debit
2,50 €

Adding FlexiPayment to a home loan in Nordea Mobile or Netbank
(Adding FlexiPayment to an existing home loan always requires automatic debiting of loan payments, which is subject to a fee set in our tariff)

0,00 €

Adding FlexiPayment to a new home loan by an employee at a branch or by phone/with a message through Nordea Customer Service

0,00 €
Adding FlexiPayment to an existing home loan by an employee at a branch or by phone/with a message through Nordea Customer Service
(Adding FlexiPayment to an existing home loan always requires automatic debiting of loan payments, which is subject to a fee set in our tariff)
250,00 €
Advance notice of loan debiting by letter or through Netbank0,00 €
Loan payment, paper invoice4,10 €
Payment reminder to the borrower, guarantor or third-party pledger (per reminder)5,00 €
Change to repayment schedule in Nordea Mobile or Netbank150,00 € 
Change to repayment schedule by an employee at a branch or by phone/with a message through Nordea Customer Service250,00 €
Change to due date or loan servicing account in Nordea Mobile or Netbank (minor change to repayment schedule)
0,00 €
Change to due date or loan servicing account at a branch or by phone/with a message through Nordea Customer Service (minor change to repayment schedule)
50,00 €

Change of borrower or a situation where one of the borrowers assumes liability for the loan alone. Does not apply to loans intermediated from government funds.

200,00 €
Change of a Euribor reference rate at the end of an interest determination period and change of the Prime rate in Nordea Mobile or Netbank. Changing the reference rate may also affect the margin of your loan. The application must be processed 5–30 banking days before the end of the interest rate period.200,00 €
Change of a Euribor reference rate at the end of an interest determination period and change of the Prime rate, performed by an employee in Nordea Customer Service. Changing the reference rate may also affect the margin of your loan. The application must be processed 5–30 banking days before the end of the interest rate period.300,00 €
Change of a Euribor reference rate in the middle of an interest determination period in Nordea Mobile or Netbank or performed by an employee in Nordea Customer Service. Changing the reference rate may also affect the margin of your loan.600,00 €
Change to the margin by an employee at a branch or by phone/with a message through Nordea Customer Service250,00 €
Obtaining a guarantor’s or pledge owner’s consent to change the loan terms and conditions, such as the repayment schedule or reference rate35,00 €

Transfer of a loan to another bank upon the customer’s request. Charged to the receiving bank. Does not apply to loans intermediated from government funds.

150,00 €
Sending of a loan document and collateral to another bank. Does not apply to loans intermediated from government funds.50,00 €
Certificate requested by the customer stating the amount of debt and paid interest10,00 €
Sending of a share certificate to the customer at the customer’s request after it has been digitised 50,00 €
Transaction closing with no loan taken or at the seller’s bank (incl. VAT  25.5%)300,00 €
Transaction closing in branch with a loan taken (incl. VAT  25.5%)150,00 €
Handling fee for digital closing (incl. VAT  25.5%)70,00 €
Charges related to unsecured home loans drawn down after 1 September 2019
ItemPrice
Payment reminder to the borrower, guarantor or third-party pledger (per reminder)5,00 €

Transfer of a loan to another bank upon the customer’s request. Charged to the receiving bank. Does not apply to loans intermediated from government funds.

150,00 €
Certificate requested by the customer stating the amount of debt and paid interest10,00 €

Apply for a home loan

Make a preliminary calculation and apply

Frequently asked questions about ASP loans

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