A housing loan with KredEx guarantee comes with a smaller initial down payment and makes buying, building or renovating your dream home affordable and convenient. KredEx guarantee can be used by a young family, a young specialist, veteran of the Defence Forces or Defence League and acquirer of an energy efficient home.

Housing Loan with KredEx applies to:

Young families

The young family loan is meant for a parent or parents raising at least one up to 15-year-old (included) child. The parents/ guardians must submit a copy of the birth certificate of their child.

Young specialists

The loan is meant for up to 35-year-old (included) young specialists*. Estonian citizenship or permanent residence and a valid employment, service or member the board agreement with concluded probationary period are required. Self-employed persons must have been in business for at least 1 years.
 
* Young specialist is a person, who has acquired higher education, secondary specialized education or vocational secondary education (based on basic education or secondary education) acquired or based on vocational basic education or vocational secondary education, aged up to 35 (included): 

  • Who has an employment contract and if probationary period is applied, then it must be completed;
  • Who has a service contract and if probationary period is applied, then it must be completed;
  • Who has been appointed based on legislation, and if probationary period is applied, then it must be completed;
  • Who has a member of the board agreement; or
  • Who is registered in the Commercial Register as self-employed and has been in business for at least one year.

Acquirer of energy-efficient home

The customer buys an energy efficient home or renovates a dwelling to make it energy efficient.

Requirements for energy efficient homes:

  • A residential building with one apartment or two or several apartments, where the energy performance of the apartment acquired in this building must be at least C;
  • In erecting a building or renovating a building or a part of it, the achieved energy performance must be at least C
  • The residential building, including a part of it or apartment must be the loan recipient`s permanent place of residence.
  • The corresponding energy performance certificate must have been issued as of 3rd of May 2013

A veteran of the Defence Forces or Defence League

Veterans are soldiers who have been in the service of the Defence Forces or Defence League who have been in active duty or military training or have been injured.

Benefits

Compare the costs and view the representative example:
 

Loan amount Loan maturity Annual interest rate  Issuing fee KredEx guarantee fee Number of payments Total amount of loan payments Total amount payable Annual percentage rate
EUR 72 000 30 years 2.5 % + 6 months EURIBOR EUR 360 EUR 240 360 EUR 102 415 EUR 103 015 2.59 %

Applying for a home loan With KredEx guarantee

1

Fill in a loan application

Fill in a loan application on paper or electronically. Our bank`s customers can submit the application though Netbank.

2

We will contact you

We will review your application and get in touch with you.

3

Sign the loan agreement

Sign the loan agreement at a bank office of your choosing.

4

Going to the notary

At the notary`s office, a mortgage is set up for the guarantee.

5

Loan issuance

We will transfer the loan to your account.

Necessary documents

  • Loan applicant(s)` passport or ID-card.
  • The applicant(s)` bank account(s)` statements from last 6 months. If income has been received at our bank over the past 6 months, then the account statement is not necessary.
  • Valuation report of the object offered as loan security compiled at a real estate office accepted by the bank . The loan applicant orders the valuation report of the object offered as loan security and bears the costs related to compilation of the valuation report according to the real estate appraiser`s pricelist.
  • In case of repairs or construction work, a repairs or construction calculation or other documents related to construction. For example, the construction project, building permit, contract with builder etc.
  • Loan application. The application can be submitted on paper or electronically. Our bank`s customers can submit the application though Netbank.
  • A veteran of the Defence Forces or Defence League: A certificate from the Defence Forces that the person belongs to the target group (document original).
  • Young family: Child`s birth certificate (original).
  • Young specialist: Original document verifying level of education
  • Acquirer of energy efficient home: documentation confirming energy efficiency indicator or indicator to be achieved

Useful links

General information of home loan with Kredex guarantee
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, Loan 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.