Housing loan

Buying your own home is a big and important decision, especially if it is your first home. Would you like to buy, build or renovate? We offer you financing that suits your plans.

Advantages of a mortgage loan

  • Special housing loan offer for newly built appartments and semi-detached houses
  • Financing for up to 85 % of the value of the property to be purchased
  • In order to reduce your contribution, choose a mortgage loan with a KredEx guarantee
  • You may also use property you already own as your contribution
  • The term of the loan is up to 30 years

4 steps till your new home

  • Creditworthiness. You may have many unanswered questions if you’re considering buying your first home. What kind of a home can I buy? How much can I borrow? You can calculate your approximate creditworthiness using the loan calculator.
  • Options. After you’ve a suitable home and start thinking about a mortgage loan, make an appointment for a consultation and we’ll help you consider the key aspects and advise you in all issues related to your mortgage loan.
  • Financing. Submit a loan application in order to get a loan decision. We’ll make you an initial offer. Choosing a new home is easier once you understand your financial capabilities.
  • Agreement. We will introduce the terms and conditions of the loan and the procedure for paying out the money before the agreement is entered into.

Sample offer of a housing loan

Loan 
amount
Loan
period
Floating interest rate
per year
Agreement fee Repayments Total amount
of repayments
Total
amount
payable
Annual
percentage
rate
€64,000 30 years 2.50 % 
+ 6 months Euribor
€640 360 €90,886 €91,526 2.57 %

How can you buy a home with a housing loan?

1

Take a look at your creditworthiness

Use the calculator or make an appointment for a consultation

2

Fill in the loan application

  • Fill out the loan application and ask for advice about borrowing options
  • We will send you a loan offer once you’ve submitted all the necessary documents

3

Sign the contracts

  • Make an appointment with a notary for signing the purchase and sale contract and the mortgage contract, and inform us about it.
  • Make sure that your family is protected and take out borrower’s life insurance.

4

Payout of the loan

The loan will be paid out after the notarised mortgage contract has been signed

See also the offers of our partners

Necessary documents

  • Loan applicant(s)` passport or ID-card.
  • Applicant(s)` bank account(s)` statement from the last 6 months. If income has been received at our bank for the past 6 months, then a bank statement is not necessary.
  • Valuation report of the object , offered as loan guarantee, drawn up at a real estate office accepted by the bank. The loan applicant orders the valuation report of the object offered as a guarantee for the loan and will bear the cost of compiling the valuation report according to the real estate appraiser`s pricelist.
  • In case of renovation or construction work, a calculation or other construction-related documents. For example, a construction project, building permit, a contract with the builder etc.
  • Loan application. The application can be submitted on paper or electronically. Our bank`s customers can submit the application though Netbank.

Useful links

Home loan general information
Pricelist
Bank`s general terms and conditions
Real estate appraisers
Home insurance
 Loan recipient`s reminder
 Surety provider`s reminder
 Pledgor`s reminder
 Examples of annual percentage rate

Are you thinking of buying a home?

You might be also interested in: Home insurance, Credit Life Insurance

Before concluding a loan agreement, please read the loan agreement terms and conditions, and risks related to non-fulfilment of obligations arising from the loan agreement and if necessary, consult an expert. The loan provider is Luminor Bank AS, headquarters located at Liivalaia 45, 10145 Tallinn.