Financing your first home in Finland
Down payment rules, ASP vs regular mortgage, company loan share, and how fees shape what you can really afford.
Finnish banks look at your income, existing debts, and the collateral — usually the apartment shares you buy. Agree a loan promise early so your offer stays within a realistic budget.
For a first home with a regular housing loan, banks often require only about 5% own funds. With ASP, or when you already own a home, the own-funds requirement is typically 10%.
An ASP account can give interest benefits and a state interest subsidy on an ASP loan if you meet the savings rules. It is worth comparing ASP terms with a regular mortgage for your situation.
Remember the company loan share. Debt-free price includes it; if you leave it in place you pay pääomavastike monthly. Financing “the whole apartment” means covering selling price plus any loan share you want to repay.
Stress-test the true monthly cost: mortgage + hoitovastike + pääomavastike + water + buffer for renovations. A cheap purchase price with high fees can still break the budget.
Talk to more than one bank about rate, margin, and repayment options. Ask how they treat a large company loan or a rented plot when setting the loan amount.
Pair this pillar with guides on how much money you need, what ASP is, how to open an ASP account, how to get an ASP loan, debt-free price, and monthly cost — then return to the numbers before you bid.
What Real Estate Experts Say
“When you buy your first home with a regular housing loan, you typically need savings of only 5% of the purchase price. When changing homes or buying with an ASP loan, the savings requirement is 10%.”
Danske Bank, Danske Bank“You must save an own-savings share on the ASP account of at least 10% of the price of the apartment you are buying.”
Valtiokonttori, Valtiokonttori