A home loan in Norway is an opportunity to buy your own home or apartment. In this Scandinavian country, such a solution is particularly profitable, because, as a rule, the loan installment is only slightly higher than the rent. Therefore, it is worth considering this solution, and many factors decide about granting a loan.
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Home loan in Norway. An attractive form of financing the purchase of your own home. If you feel the need and you want your own house, contact Aleksandra
Home loan or monthly rent?
Renting apartments in Norway is tall, as each of us had the opportunity to see. 
Therefore, the question becomes reasonable, is it not better to allocate this amount to cover the loan installment? In practice, it turns out that these two types of expenses are in fact similar and burden the monthly budget in a similar way. However, the limitations related to obtaining a loan for an apartment are a certain difficulty.
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"They said I have to live for 5 years"
There are many popular opinions about the conditions that must be met in order to apply mortgage. The reality, however, is slightly different from what you hear from friends or family. In practice, different banks have different criteria. This differentiation may also result from the preferences of the adviser himself in the same institution - while one will say that we have no chance of getting a loan, the other will not see any contraindications to grant it.
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Home loan in Norway - basic conditions
While each bank uses different criteria, certain conditions remain the same. These include own contribution, which should, in principle, amount to 15 - 25% of the value flats and/ or house. If we do not have such an amount, we can apply to the commune for a loan for startup loan (Norwegian home loans). The following documents are usually required attachments:
- contract of employment,
- three payment confirmations from the last months,
- tax settlements.
Read our next article: Real estate loan in Norway without own contribution – is it possible?
In addition, it should be shown that we have savings on a bank account of at least 50. NOK. Only after submitting a complete application, the commune office may consider it. If they evaluate it positively, they grant a loan for their own contribution or finance it in full - in this case, our financial situation and the opinion of the official himself are decisive.
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Financieringsbevis, i.e. verbal consent to a loan
Having already own contribution we can go to the bank to determine our ability 
credit. It is not worth being discouraged by initial refusals - as we mentioned above, a lot depends on the specific counselor. Negative decisions happen even in the case of people whose annual income is between PLN 300 and 400. NOK per year, but remain the sole breadwinner. An additional difficulty will be having another obligation, e.g. car loan.
Home loan in Norway becomes real when the advisor positively assesses our creditworthiness. In this case, it gives verbal consent (norw. Finansieringsbevis). At the same time, the amount that the bank agrees to lend against the real estate is determined. From now on, there is nothing else to do but find the right accommodation.
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House or flat?
Most frequently purchased real estate in Norway there are houses. This is the opposite tendency from the one we know from Poland. Funded issues determine the greater popularity of this type of real estate. In housing communities, there is a fee called felleskostnaderwhich is something like a rent. These are common costs incurred by all residents of a given block. That is why most of the inhabitants of Norway decide to buy a house that is less burdensome to use.
Home loan in Norway - is it worth it?
Home loan in Norway it is profitable if we plan to stay here longer. The installment for this liability is similar to the monthly rent. Norwegian banks, as a rule, require our own contribution, which ranges from 15 to 25%. If we do not have such amount, it is possible to apply to the commune for a loan for own contribution.
Having the required amount already, you should go to the bank branch. It is worth remembering, however, that a one-off refusal does not necessarily mean saying goodbye to the dream of own accommodation. Much depends on the adviser himself - when one does not grant us a loan, the other may not see any contraindications. Obtaining financialieringsbevis means we can start looking for our own home. It is up to us which property we choose.
I cordially invite you to contact me.
Aleksandra Ostrowska real estate agent.
E-mail [email protected]
Mobile: 40754036
Facebook: https://www.facebook.com/aleksandraostrowskaeiendom
