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