Start saving for the down payment

One of the biggest saving goals among young people in their mid twenties is the down payment of their own apartment. Since saving enough to buy an apartment in cash would take many, many years, a housing loan is required. The part you pay cash is called down payment.

Housing loans in Sweden – the essential 15%

An essential step when applying for a housing loan in Sweden is that you can pay 15% of the apartment in cash, as down payment. This means that you need to save 300 000 sek to purchase a 2 000 000 sek apartment.

How high is the housing loan interest?

The average housing loan interest is between 2-4% and is always based on your individual situation. From your income to your credit history and the type of employment you have. 

How can I increase my chances for a granted housing loan?

When applying for a housing loan the bank is looking at the following:

• That you are over 18
• Your income
• Type of employment
• Credit history
• If you have kids
• Other assets such as car or other real estate

Avoid payment notices

Many big banks will be reluctant to lend you money if you have previous payment notices. A payment notice is visible for 3 years even if you have settled the debt. We recommend that you always be careful when using credit.

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