Saving for a home

Start saving for a home as early as possible When you find the first home that is perfect for you and a nice balance has already accrued in your home savings account, it will be easy for you to take out a loan. You can buy your first home with an ASP Account, with your own savings or together with another party. There are many ways of saving for a home – read more and find out which of them will suit you best!

The ASP home savings account brings benefits for first-time home buyers

The state subsidises young people’s first home purchases through ASP loans. You can accrue savings in your ASP Account at a pace that suits you best: you don’t need to make deposits every month. The account is intended for first-time home buyers aged 15–39 years, and you are entitled to many benefits: besides annual deposit interest, we pay 4% additional interest on your ASP Account for the account-opening year and the next five years. 

Read more about opening an ASP Account here.

With own savings to your first home

An ASP Account is not necessary for first-time home buyers: they can also save for a home with an ordinary savings account. To obtain a housing loan, you will then need own savings accounting for at least 5% of the price of your first home and regular income. You need to obtain a guarantee for the loan, and you can also buy additional security, if necessary. Read more about Nordea’s OwnGuarantee here.

Housing loan together with someone else

Especially when buying a home priced higher than usual, it may pay off to split the expenses and the loan; for example, and you can buy a home together with a partner or your parents. The housing loan may be joint or each party may have a loan of their own. We help you draft detailed repayment schedules to make the repayment of your loan as smooth as possible. You can even start by clicking the chat service at the bottom of this page!

Read more about Joint housing loan

Housing loan without security

ASP loans have a free-of-charge state guarantee, so you will need no other security to obtain a loan and you don’t have to ask for a guarantee from your parents, for example. Everybody who takes out a housing loan for building or buying a permanent residence of their own is entitled to a state guarantee for a housing loan. Those who take out an ASP loan with interest subsidy do not have to pay any guarantee fee, either.

Buying a first home from A to Z

We have listed six steps in our guide for first-time home buyers. What things should you consider before opening a home savings account? What should a person saving for a home and taking out a housing loan remember and how could the removal be done as smoothly as possible? Follow the steps to get an overall picture of what the home-buying process consists of. You can also easily contact us if this is the right time for you to purchase your first home.

Ask us about buying your first home

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