Example of a housing 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 165,000 euros. The loan period is 23 years and the interest rate is 0.50% (October 2020). The APR is 0.6%, including an opening fee of 660 euros and a monthly fee of 2.30 euros for the automatic debiting of loan payments. The number of payments is 276. The total amount of the loan plus credit costs is 169,480–176,141 euros. The monthly payment (annuity) is 635 euros.
The amount of the loan, the loan period and the interest are a representative example 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 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 for the mortgage deeds. In addition, you must take out fire insurance for the property.
In cases where we cannot make an appraisal of the home to determine its security value, we will agree with you on a separate appraisal and charge you for its costs.