You may be granted an ASP loan when you have saved for a minimum period of eight quarters to your ASP Account 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 of an ASP loan
You take out a loan of 100,000 euros. The loan period is 24 years and interest rate is 0.45 % (3/2020). The APR is 0.5 % 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 288. The total amount of loan plus credit costs is 106,660 euros. The monthly payment ( annuity) is 369 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 of an ASP loan does not necessarily correspond to the actual APR charged on the granted loan. 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.