Mortgage loan

Special loan conditions

There’s no place like home!

If you need a loan for buying a new home, major refurbishment or construction - the home loan will be a perfect solution.

Interest rate from 1.79% + 6 month EURIBOR*
Remote loan consultation and approval
Possibility to repay the loan early and manage your agreement via Internet Banking

Choose a home in one of the projects developed by our partners and get a special offer.

* A representative example of credit expenses: the customer takes out a loan of 65,000 EUR, the loan period is 20 years, the applied interest rate is 1.79% + 6 month EURIBOR, the monthly payment is 324.30 EUR, the disbursement fee – up to 1.2% of the credit amount. The APR calculated for the customer is 1,96% and the total amount payable is 78 304.20 EUR.

Mortgage loan calculator

Find out possibilities

The total monthly payment can’t exceed 40% of your monthly income. Select a smaller loan amount or increase the loan term.

Applying with a co-applicant

AloneWith applicants

More than one dependant in family

Children under custody

012 or more

I have existing loan obligations (incl. in Swedbank)

If you want to borrow on your own, specify your monthly income after taxes.

If you want to borrow together with a co-borrower, specify your combined monthly incomes after taxes.

€

Down payment starting from 15%.
In case of Altum the down payment can be reduced down to 5%.
Down payment may not be needed if you collateralize your own property.

Down payment starting from 15%, in case of Altum it can be reduced down to 5%. Down payment may not be needed if you collateralize your own property.

€

Small loan, credit card, overdraft, line of credit, study loan and other short-term credits

€

Insure your

Home By insuring your home you will protect yourself from unexpected expenses in connection with your home, home contents or damage caused to third parties. The monthly payment is indicative and the calculation is based on the following data: 50 sq. m. apartment in a concrete building with 7500 EUR cover for home contents and 7500 EUR cover for liability insurance.
From 0€
Life Life insurance helps the family cope with financial difficulties they may face when a family member dies or becomes unable to work. We recommend the life insurance amount that covers at least 24-month income and all loan commitments. The monthly insurance payment is calculated for the person in the age of 35 and for the recommended life insurance amount, which considers both the chosen loan amount and income. The calculation is indicative and may differ from the offer you receive.
From 0€
Loan payments In case of temporary loss of income due to incapacity for work or unemployment for more than 30 days, the insurance will help you cover your monthly loan payments. The insurance premium is 3,5% of your monthly loan payment.
From 0€

Loan

Monthly loan payment
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Maximum loan amount
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Altum calculator

Loan and Insurance payment calculations are approximate and may differ from your personal offers. Home insurance and insurance against borrower's unemployment and incapacity for work insurance is provided by Swedbank P&C insurance AS. Life insurance is provided by Swedbank Life Insurance SE which are represented in Latvia by their branches and by the insurance agent Swedbank AS.

For buying new home.
For building a home and purchasing land plot.
If you wish buy new property before selling the old one.
Down payment starting from 15%.

For other bigger expenses by collateralizing your own property.
For furnishing, remodelling, renovating or buying other properties (e.g. a summer house).
Down payment may not be needed if you collateralize your own property.

Apply for home equity loan

Mortgage loan with support from ALTUM
Down payment can be reduced down to 5%.

Determine how much you can expect to borrow based on your current salary and financial commitments.
If you are buying a new home through our real estate partner, ask for a discount code and information about the offer from real estate agent.
Fill in the application on the Internet Banking site and get a consultation.
The bank notifies you of its loan decision.
Sign the loan agreement on the Internet Banking site and set up home insurance. New lending transactions may be concluded via Internet Banking between 7 AM and 10 PM. Automated aggregation and registration of data on transactions concluded during the day takes place after 10 PM and, pursuant to the Consumer Rights Protection Law, it is prohibited to enter into consumer lending contracts during night time until 7 AM.
After the notarial transaction, the bank will disburse the loan.

Any property to be bought and mortgaged must be appraised by an independent valuator.

Loan amount from 10,000 EUR.
Loan up to 85% of collateral value.
Loan term up to 30 years.
Income at least 600 EUR per month after taxes, at least 900 EUR per month with a co-borrower.

Interest rate consists of individual interest margin and 6-month Euribor. If the Euribor rate is negative, it will be regarded as equivalent to zero.
Additional expenses (notary, real estate valuation) and bank fees will apply to your loan.
Loan is repayable on the basis of annuity or amortization schedule within the agreed term by pre-determined monthly payments on your chosen payment date.

Mortgage loan interest rates

According to information received from international financial supervisory authorities, in the framework of the benchmark rate reform, the previously applied LIBOR rate needs to be replaced in all agreements where it is referenced. Consequently, the London Interbank Offered Rate (LIBOR) which was applied to mortgage loans must be replaced with a different rate.

Customers whose agreements are affected by the change will be contacted by the bank personally in the nearest future. Due to the fact that Latvia is a Eurozone member state, LIBOR will be replaced with EURIBOR (Euro Interbank Offered Rate), which is the loan reference interest rate index for the European Union member state interbank market. The new rate will have no negative impact on customers’ monthly payments.

You are welcome to review a summary of the key questions and answers.

Questions and answers about replacement of LIBOR base rates

Due to the fact that Latvia is part of the Eurozone, LIBOR will be replaced with EURIBOR (Euro Interbank Offered Rate), which is the loan interest rate index for the European Union member state market. The 3, 6 or 12-month EURIBOR will be applied to your loan agreement based on the base rate period of your previous rate with LIBOR.

The total interest rate of a loan is comprised of the rate added by the bank and the variable base rate, which in your case was LIBOR.

The bank’s margin rate will not change as a result of this change. Your total interest rate will not increase with the introduction of this change, and may even decrease until the next scheduled base rate adjustment.

In the interests of our customers, the Bank is doing everything necessary to ensure that the rate change does not have a negative impact on your monthly payment amount. Your monthly payment will not increase as a result of application of the new rate, but please be advised that, just like LIBOR, EURIBOR fluctuates and may eventually increase, which may, in turn, affect your monthly loan payments in future. All current information about EURIBOR indicators and changes therein is available here: www.emmi-benchmarks.eu/euribor-org/euribor-rates.html

All customers whom this change applies to will be contacted individually. Following a conversation with your banking consultant via internet banking, you will receive a message from the bank detailing the amendments to your agreement. During the consultation with the bank specialist you will agree on the signing of the amendments either in person or remotely. Upon the amendments coming into effect, a new payment schedule will be available to you, which you will be able to view via internet banking.

N.B.! Our banking consultant will not ask you to reveal your authorisation credentials or passwords.

No commission will be charged for the preparation of the amendments, and you will not be required to take any additional action.

As from the amendments to the agreement taking effect, and after the amendments are activated by the Bank, you will see a new payment schedule in your internet banking user account. The currency will be converted based on the Swedbank official exchange rate (USD to EUR) on the day of activating the amendments.

The changes within statutory regulations apply only to replacing LIBOR and the resulting changes in loan currency (if your loan currency is not EUR), all other conditions remain unchanged.

We highly value proper treatment of our customers, as well as the institutions overseeing banking operations, therefore our LIBOR replacement plan has been harmonised with the Consumer Rights Protection Centre and the Financial and Capital Market Commission.

IBOR and the transition to alternative risk-free rates

InterBank Offered Rates (IBORs) are used to set the interest rates in contracts for everything from loans and bonds to derivatives. However, as the volume of IBOR transactions has dropped, the credibility of these rates has declined. A global transition towards alternative risk-free rates based on actual transactions is underway. Swedbank will support it’s customers throughout the transition.

A key driver for the transition to risk-free rates is that the credibility of IBORs has declined. As the volume of IBOR transactions has decreased, the number of transactions has been too low to serve as an unbiased basis for the calculation of IBORs. Consequently, IBORs have been based on estimates rather than on actual transactions – a situation which has given rise to concerns about objectivity.

What the risk-free rates all have in common is that they are based on actual transactions and are retrospective. In addition, they lack maturities, so they have no credit risk. Taken together, these characteristics make Risk Free Reference rates more credible than IBORs.

InterBank Offered Rates (IBORs) are reference rates based on the rates that banks use when they lend to each other. Reference rates act as benchmarks in the pricing of financial contracts and products, and play an essential role in a well-functioning financial market. In the coming years, IBORs (like EUR LIBOR, USD LIBOR, GBP LIBOR, CHF LIBOR etc.) will be phased out and replaced with risk-free reference rates (RFRs).

But due to missing term structures these new Risk Free Reference rates are less suitable for long-term financing of private customers (like in home loans) – the interest base rate is changing each day, instead of 6- or 12 month period like in mostly used IBORs in financing private customers

Following the global financial crisis of 2007-2009, a number of deficiencies related to IBORs were identified. Specifically, the rates were based on professional assessments by the participating banks rather than on actual transactions, and the underlying transaction data was at times deficient. The use of IBORs also entailed a risk that the rate-setting process could be manipulated. Accordingly, the credibility of IBORs declined during this period. As a result, government authorities tightened their requirements for internal controls. In addition, legal penalties related to IBORs increased, and banks consequently became less willing to take responsibility for IBORs.

Demand for risk-free reference rates began to increase – from market players in general, but particularly from the derivatives market. A reform of the price-setting process was seen as imperative, and efforts to develop alternatives to IBORs were launched. An international overview of the reference rates led to the development of alternative risk-free reference rates.

The reference-rate reform is driven by the market, which means that the transition is taking place at a different pace in different countries and that the new risk-free reference rates may be defined in various ways.

The UK’s Financial Conduct Authority has announced that it will no longer compel banks to submit quotes to support the London Inter-bank Offered Rate (LIBOR) after 2021, which entails that LIBOR will be phased out after 2021.

The EU BMR, which came into full force on 1 January 2018, introduces a common framework governing administration, contribution and usage of benchmarks within the European Economic Area (EEA). It is aimed at ensuring the integrity of benchmarks used in financial contracts, financial instruments, or used to measure performance of investment funds in the EU.

It also requires that more robust fallback language exists in all relevant contracts and agreements. The purpose of fallbacks is to define the steps that will be taken to identify and agree an alternative benchmark in the event that the original benchmark ceases to be available or materially changes and what happens if an alternative cannot be agreed.

Fees

Mortgage loans

Service		Price, EUR
Receiving
Loan application processing	Apply for via Internet Banking	Free of charge
Setting up and disbursement of credit		1.2%	For Gold Service customers - 1% of the loan amount
Setting up and issuing the loan if secured by a term deposit		0.5% Min. 28.00	The loan amount may not exceed 98% of the deposit amount; the loan agreement must end at least 2 business days before expiry of the deposit agreement.
Determining the market value of the property		90.00 - 220.00 The fee will be reduced by EUR 10.00 if the valuation can be made without visiting the property. Determining the present market value: - Apartment – 90.00 - Single-family residential house – 180.00 - Land plot for construction – 120.00 Determining future market value: - Apartment – 125.00 - Single-family residential house – 220.00	Valuation by Swedbank AS is prepared in abbreviated form and is not suitable for presenting to other credit institutions, and cannot be used for the needs of other individuals or legal entities.
Assessing and approving a property's reconstruction or construction cost estimate		55.00	In case of construction and reconstruction of the property to be valuated - always.
Assessing and approving a property's refurbishment cost estimate		35.00	Upon bank’s request.
Approval of the determined market value of residential property		30.00	If the valuation is by a valuator not on the list of the bank's approved valuators..
Using
Interest rate		Set on case-to-case basis
Interest rate for a loan secured by term deposit		2% The rate is added on top of the term deposit rate
Interest rate revision		1.2%
Change of date of monthly payments	Easier via Internet Banking	Free of charge
Other changes in credit agreement		150.00	Depending on the type of changes in the agreement, it may be necessary to determine the market value of the property, for which a fee will be charged according to the Price List.
Changes in credit agreement in case of restructuring		75.00
Assessment of expenditure of funds at the construction site		50.00 - 75.00 If the loan is issued for refurbishment of property - 50.00 If the loan is issued for construction/reconstruction of property - 75.00	In case of construction and reconstruction - always. In case of refurbishing - only upon bank's request.
Standard bank certificate (balance of the loan, interest and principal paid, overdues, loan collateral, consents, purpose of the loan)	Easier via Internet Banking	See Bank certificates, document requests, etc. Unless stated otherwise in the agreement.
Other type of certificates upon request	Easier via Internet Banking	See Bank certificates, document requests, etc.
Early partial repayment of credit	Easier via Internet Banking	Free of charge
Closing
Full early repayment of the loan	Easier via Internet Banking	Free of charge	Note that there will be additional costs for notary services.
Document processing fee in case of re-financing the loan to other credit institution		426.00

Effective from 19.08.2020.

Consumer Credit for Home

Service		Price, EUR
Receiving
Loan disbursement	Easier via Internet Banking	1% of the amount, min. 100.00
Using
Interest rate		From 7.9% per annum
Change of monthly payment date or the linked account	Best value via Internet Banking	0.00 - 7.00
Other changes in the loan agreement	Easier via Internet Banking	25.00
Early partial repayment of the credit	Easier via Internet Banking	Free of charge
Closing
Full early repayment of the credit	Easier via Internet Banking	Free of charge

Effective from 18.04.2017.

With the self-service feature, you can:

change payment date after the monthly payment has been made;
change payment account;
make early partial repayments.

In other cases (applying for a grace period, prolonging the payment term, change or release of additional collateral), fill in the application.

Home exchange solution

Fill in the new loan application if you want to:

buy new property before selling old one;
apply for an additional loan.

Looking for a place to call your new home?

Choose a home in one of the properties offered by our partners by 30.09.2021 and get a particularly attractive offer:

Mortgage loan disbursement and real estate valuation free of charge
Interest rate from 1.79% + 6 month EURIBOR
25% discount on home insurance*

For a consultation, fill out an application on the Internet Banking site. After filling out the application, the consultation will be available within 1 day.

Find out more about the offer (LAT)

* Offer valid for real estate properties purchased as part of Swedbank’s mortgage loan campaign if home insurance and third-party liability insurance is also included in the insurance contract. The discount will be applied to the insurance premium for 12 months as from the contract entering into force. The home insurance service is provided by Swedbank P&C Insurance AS which is represented in Latvia by Swedbank P&C Insurance AS Latvian branch and the insurance agent Swedbank AS. Before conclusion of the insurance contract, review the conditions of the offer and the terms of the contract at www.swedbank.lv.

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"Merks Viesturdārzs", Rūpniecības street 25, Riga

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"Merks Mežpilsēta", Hipokrāta iela 24, Mežciems

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"Merks Gaiļezera Nami", Gaiļezera street 5, 7, 13, Riga

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"SILVAS NAMI", Dzelzavas street 110, Riga

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"Safrāns", Žagatu iela 7

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"Akācijas", Akacijas street, Riga

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"Raunas rezidences", Raunas street 56, Riga

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"Mežaparka Rezidences", Ķelnes street 1, Riga

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Class A building

Baložu iela 9

Place to belong

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"HARMONIJA", Krapes iela 8

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Kaukāza street 14, Riga

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"Riverstone Residence", Ķīpsalas street 49, Riga

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"River Breeze Residence", Kuģu street 28, Riga

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"Park Alley", Pulkveža Brieža street 35, Riga

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"Aizkulises", Aleksandra Čaka street 134, Riga

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"R8 Apartments", Rembates street 8, Riga

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"Rēdera Nami", Maskavas street 48, Riga

Rēdera nami is a fully renovated three-building complex on the banks of the Daugava at Maskavas iela 48. The inner courtyard of the building complex has been landscaped with greenery, murals, a pergola, and a sandbox and swing for children.

The property being pledged requires an appraisal carried out by certified real estate valuator for loan collateral and intended for submitting to Swedbank.

Real estate can be appraised by real estate valuators approved by Swedbank. If the appraisal is performed by a valuation company not included in the list, Swedbank will verify the correspondence of the value to the market situation and to the Latvian Valuation Standard LVS-401.

Swedbank may review any external appraisal received (also ones by the approved valuators) and accordingly revise the market value stated there if it is not based on well-founded assumptions and does not represent the market situation at the time of valuation.

Real estate valuators approved by Swedbank

Company	Address	Telephone	Real estate type / restrictions
RE eksperts	Ernestīnes iela 12, Rīga	67544380, 26683829	Valuation of all real estate types
Colliers International Advisor	Satekles iela 2B - 512, Rīga	67783333	Valuation of all real estate types
Latio	Krišjāņa Valdemāra iela 8, Rīga	67032300	Valuation of all real estate types
Newsec Valuations LV	Vesetas iela 7, Riga	67508400	Valuation of all real estate types
Arco Real Estate	Blaumaņa iela 5a-1, Rīga	67365555	Commercial property valuation with market value of up to 300,000 EUR Residential property valuation with market value of up to 200,000 EUR In other cases - with the bank’s approval
Eiroeksperts	Krišjāņa Valdemāra iela 20-9, Rīga	67365999	Residential property valuation
Nira Fonds	Brīvības iela 73-1, Rīga	67216678, 27011887	Residential property valuation
Ober Haus Vērtēšanas serviss	Gustava Zemgales gatve 76, Rīga	29557121, 67284544	Residential property valuation
VCG Ekspertu grupa	Kr. Barona iela 31, Rīga	29722989, 67229008	Residential property valuation
VCG Ekspertu grupa	Jelgava	29543033, 63082556	Residential property valuation
Langes pils	Dzirnavu iela 31-1, Rīga	67505676	Residential property valuation with market value of up to 100,000 EUR In other cases - with the bank’s approval
Vestabalt	Pulkveža Brieža iela 15, Rīga	67225555, 67323600	Residential property valuation with market value of up to 100,000 EUR In other cases - with the bank’s approval
Vindeks	Lāčplēša iela 14, Rīga	67285403, 29235485	Residential property valuation with market value of up to 100,000 EUR In other cases - with the bank’s approval

If you want your property to be valuated simply, conveniently and fast, let Swedbank valuators take care of that! Swedbank valuations are prepared in abbreviated form and are not suitable for presenting to other credit institutions and cannot be used for the needs of other individuals or legal entities. The fee for Swedbank valuations is charged according to the bank’s price list.

For the possibilities of obtaining real estate valuation from Swedbank, ask your financial consultant at the bank!

A loan suitable for energy efficient solutions in your house.

Offer!

If you are planning to borrow more than 5000 EUR for home improvement – we recommend taking a look on this loan conditions.

With home insurance your home is protected both against everyday incidents as well as greater risks.

Insurance that helps you with loan repayments in case of losing your job or capacity for work.

ALTUM offers several state aid programmes: for families with children, for young professionals and programme “Balsts”.

Real estate valuators approved by Swedbank

The property being pledged requires an appraisal carried out by certified real estate valuator for loan collateral and intended for submitting to Swedbank.

Real estate valuators approved by Swedbank

Company	Address	Telephone	Real estate type / restrictions
RE eksperts	Ernestīnes iela 12, Rīga	67544380, 26683829	Valuation of all real estate types
Colliers International Advisor	Satekles iela 2B - 512, Rīga	67783333	Valuation of all real estate types
Latio	Krišjāņa Valdemāra iela 8, Rīga	67032300	Valuation of all real estate types
Newsec Valuations LV	Vesetas iela 7, Riga	67508400	Valuation of all real estate types
Arco Real Estate	Blaumaņa iela 5a-1, Rīga	67365555	Commercial property valuation with market value of up to 300,000 EUR Residential property valuation with market value of up to 200,000 EUR In other cases - with the bank’s approval
Eiroeksperts	Krišjāņa Valdemāra iela 20-9, Rīga	67365999	Residential property valuation
Nira Fonds	Brīvības iela 73-1, Rīga	67216678, 27011887	Residential property valuation
Ober Haus Vērtēšanas serviss	Gustava Zemgales gatve 76, Rīga	29557121, 67284544	Residential property valuation
VCG Ekspertu grupa	Kr. Barona iela 31, Rīga	29722989, 67229008	Residential property valuation
VCG Ekspertu grupa	Jelgava	29543033, 63082556	Residential property valuation
Langes pils	Dzirnavu iela 31-1, Rīga	67505676	Residential property valuation with market value of up to 100,000 EUR In other cases - with the bank’s approval
Vestabalt	Pulkveža Brieža iela 15, Rīga	67225555, 67323600	Residential property valuation with market value of up to 100,000 EUR In other cases - with the bank’s approval
Vindeks	Lāčplēša iela 14, Rīga	67285403, 29235485	Residential property valuation with market value of up to 100,000 EUR In other cases - with the bank’s approval

For the possibilities of obtaining real estate valuation from Swedbank, ask your financial consultant at the bank!

Home loan with state support for families with children

If you’re expecting a baby or already have at least one child of up to 23 years of age in your custody who lives with you, and you’re planning to buy or build a home costing up to 250,000 EUR, apply for a loan with state support.

The size of the guarantee depends on the number of children in the family, including the child expected.

If there is 1 minor child in the family, the guarantee is 10% but not more than 10,000 EUR.
If there are 2 children in the family, the guarantee is 10-15% but not more than 15,000 EUR.
If there are 3 children in the family, the guarantee is 10-20% but not more than 20,000 EUR.
If there are 4 or more children in the family, the guarantee is 10-30% but not more than 30,000 EUR.
If you’re buying a class-A energy efficient residential property, the amount of the guarantee may be increased by 5%.
If you’ve used an Altum guarantee before, you can do it again if:
- at least 3 years have passed since receiving the first guarantee;
- the guarantee is already discharged;
- the number of children in the family has increased since receiving the first guarantee.

Regular monthly income.
Positive credit history
Extent - up to 95% of the property’s market value.
Period – up to 30 years.
Collateral – the real estate being purchased or built.
ALTUM fee for granting the guarantee – 2.5% of the guarantee amount (1% in case of contract amendments).
Terms of construction loan - a cost estimate and building permit are required; the loan is made available in parts and a Swedbank representative will inspect the property before every portion of the loan is disbursed.

Fill out the application and we will let you know about submitting additional documents required.
The bank decides on granting the loan and notifies ALTUM.
ALTUM decides on granting the guarantee.
Pay ALTUM fee of 2.5% of the guarantee amount.
Sign agreement with the bank.
ALTUM prepares guarantee agreement for the bank.

Mortgage loan for young professionals

If you’re a young professional of 18 to 35 years of age and plan to buy real estate, apply in the housing guarantee programme un get co-funding for buying residential property.

Regular monthly income from 600 EUR (with co-borrower 800 EUR)
Positive credit history
Extent - up to 95% of the property's market value
Repayment period - up to 30 years
Collateral - the real estate being purchased or built
ALTUM fee for granting guarantee - 4.8% of the size of the guarantee (1% in case of amendments to agreement)
Conditions for construction loans: cost estimate and building permit required. The loan is disbursed in parts. Swedbank’s representative will inspect the property before disbursement of each part of the loan.

Fill out the application and submit the required documents
The bank decides on granting the loan and notifies ALTUM
ALTUM decides on granting the guarantee
Pay ALTUM fee of 4.8% of the amount of the guarantee for the first period
Sign agreement with the bank
ALTUM prepares guarantee agreement for the bank

Loan for construction

Swedbank offers the most convenient solution for building, refurbishing or reconstructing your home.

Calculate the approximate construction costs here.

The bank evaluates the correspondence of construction costs to the work to be performed
Amount of finance is up to 85% of the future value (with an option to get Altum guarantee)
The bank approves the loan disbursement breakdown together with the customer
Loan is disbursed in the amount of 70% of the property’s present value (as first portion of the loan)
Remaining portions of the loan are disbursed after the previously disbursed portions and customer’s own funds are invested.

Additional documents to be submitted:

Construction cost estimate
Construction plan or sketch
Property’s future value

Find out your options or apply for house construction loan here
Decide on the size of the house you need and estimate how much it could cost to build it
Consult a property valuator about the value of potential property after its completion
Take into account that the bank will disburse a loan of up to 85% of the future value of the real estate (up to 95% with Altum) and any difference in costs must be covered by your own co-finance that you will need to invest when starting construction of the house.
Find out if you’re eligible for having the construction costs covered as part of the Altum subsidy program Balsts.

Key steps to building a house

How does the home exchange solution work?

Fill out the application and indicate that you wish to use the exchange solution for buying the new home.
Buy a new property.
The bank will reduce the existing duration of the mortgage loan agreement to 12 months, keeping the monthly payment amount the same.
You have 12 months to sell the existing property and pay off the balance of the first loan*.
When the loan for the first home is repaid, you will again have just one loan for the new home.

* You have a possibility to postpone principal repayments for 12 months and pay only interest for the first loan.

Programme “Balsts”

If there are at least three children in your family and you are planning to purchase or build a home, you can receive funding in the form of an Altum grant, which will not have to be repaid. The available state funding ranges from 8,000 to 12,000 EUR and depends on the size of your family and the energy efficiency class of the dwelling.

Families with 3 or more children living in the same home.
Average income per family member (including children) for the last available taxation year, for which taxes are payable, does not exceed 17,000 EUR (gross).
Tax residents of Latvia (for at least the past 12 months).
The support recipient does not own any other residential property (home, apartment, cottage).

The grant will partially or fully substitute own co-financing. The grant cannot exceed 50% of the purchase price/construction costs.

What is the available amount of financing?

Number of children (including, if expecting)	Energy efficiency class of the home to be purchased/constructed	Maximum amount of grant, EUR
3	Not an almost zero-energy building	8,000
3	Is an almost zero-energy building	10,000
4 or more	Not an almost zero-energy building	10,000
4 or more	Is an almost zero-energy building	12,000

Regular monthly income.
Positive credit history.
Amount — up to 95% of the market value of the property, because the Altum guarantee can be used.
Term — up to 30 years.
Collateral — the real estate property purchased or constructed.
Conditions for construction loan — a cost estimate and construction permit are needed, the loan is issued in instalments; prior to the issue of each instalment, a Swedbank representative performs an on-site inspection.

Fill out an application and we will let you know what additional documents need to be submitted.
The bank takes a decision on issuing the loan and informs Altum.
Altum takes a decision on issuing the grant.
Sign the loan agreement with the bank.
Electronically sign the grant agreement with Altum.
Altum transfers the grant to the bank.

In case of purchase — at the time of transferring the purchase amount, the bank transfers these funds as co-financing or as part of it.

In case of construction — these funds are deposited to the customer’s account in accordance with the conditions of the loan agreement. The grant may be used only for non-cash settlement, and the customer has to report as to the use of the grant.