A loan promise enables you to make a binding offer on a home you like as soon as you find it
When you get a home loan promise from us, we commit to lending you the agreed amount. This commitment gives you peace of mind and makes it easy for you to make an offer on a home. Applying for a loan promise or a preliminary home loan offer from us doesn’t commit you to anything.
If you have already found the right home when you apply for a loan, you should tell us about this when we negotiate on your loan. We will check that we can accept the home as collateral.
If the home is acceptable for a loan, we will give you a loan promise and you can make a binding offer on the home. Alternatively, you can make a conditional offer, making it subject to us granting you a loan to buy the home in question.
You can make a conditional offer before getting a loan promise
Most people make an offer on a home after they have first secured a loan promise from their bank. But if you don’t have a valid loan promise, you can still make a conditional offer on the home you want to buy.
The conditions in your offer could be that your bank must accept the home as collateral for your loan and that your bank must grant you a loan promise. You will need to agree on the conditions in your offer with the realtor.
Before you make an offer, we recommend that you fill in our online form to tell us about the home you have found. This way, we can check that the home is acceptable for a loan and proceed to give you a loan promise.
From a preliminary loan offer to a loan promise
Once we have negotiated on your loan and given you a preliminary loan offer, we can proceed to granting you a loan promise if you provide us with the following documents:
- a house manager’s certificate
- your payslip and account statements for the past 3 months
- a photo of your ID card or passport.
If your loan will have a third-party pledge, we may also ask you to fill in a form to provide information on the pledger and pledge. If you own a business, we will request you to provide your financial statements.
You can easily renew your loan promise when you need to
Our commitment to fund your home loan is valid for six (6) months and the offered price, or the margin, is valid for one (1) month.
If your loan promise expires before you find the right home, you can easily renew it by calling us, contacting us through chat or sending us a message through Nordea Mobile or Netbank. Please note that when you request to renew your loan promise, we will always review the details and the price offered.