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

You may be granted ASP loan after you have saved for a minimum period of eight quarter and the deposit in each quarter has been between 150 and 3,000 euros. The maximum ASP loan is 9 times your ASP savings, but no more than 90 % of purchase price of your home. In addition, the municipality where the home is located  affects the amount of the interest-subsidised ASP-loan.

Example: You take out a loan of 100,000 euros. The loan period is 23 years and interest rate is 0.7 % ( 1/2018). The APR is 0.8 % and includes an opening fee of 400 euros and monthly fee of 2.30 euros for automatic debiting of loan payments. The number of payments is 276. The total amount of loan plus credit costs is 109.455 euros. The monthly payment ( annuity) is 392 euros. The APR has been calculated using the Finnish Financial Supervisory Authority's assumed loan period (FIN-FSA regulations and guidelines 15/2013: Marketing of financial services and products), which is a representative example for Nordea's housing loans. The amount of the loan and interest is a representative example for housing loans offered by Nordea. The example, however, is only indicative and has been calculated using certain assumptions. The example does not necessarily correspond to the actual APR charged on the granted loan.

If you are buying a property, you must take into account the registration of title and mortgage costs and the costs charged by the National Land Survey of Finland. In the case of property, you will also need fire insurance. 

On cases where the bank cannot make a security appraisal of the home, the bank will agree with customer on a separate appraisal and charge the costs for it from the customer.