Example of a loan and the annual percentage rate of charge (APR)
Your current rent could be used to pay for your own home. You can obtain a housing loan if you are aged 18 and over, are creditworthy and have managed your finances well.
Example: You take out a loan of 160,000 euros. The loan period is 20 years and the interest rate is 0.50 % (31 March 2020). The APR is 0.6 % and includes an opening fee of 640 euros and a monthly fee of 2.30 euros for the automatic debiting of loan payments. The number of payments is 240. The total amount of the loan plus credit costs is 169,480 euros. The monthly payment (annuity) is 704 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 for the 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 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 and the costs charged by the National Land Survey of Finland. In the case of a property, you will also need fire insurance.
In 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 it from the customer.