The start-up loan is a favourable loan scheme offered by most municipalities, primarily intended for first-home buyers and households with special needs.
A start-up loan may help you buy your own home if you lack capital or sufficient financing from the private market. It can also be used for improvement of your current home or refinance your mortgage. A start-up loan can finance all or parts of the total costs. The size of the loan available to you depends, however, on how much you and your household can manage to pay in interest and instalments alongside your everyday living expences.
Start-up loans are offered by most municipalities in Norway. It is your municipality that decides wheteher you are eligible for a start-up loan, and how much you can borrow.
When can I apply for a start-up loan?
- if you are getting settled
- if you lack your own funds
- if you lack financing
- if you have a disability
- if you are a sole breadwinner
- if you can't get started in the housing market
What can a start-up loan be used for?
- top financing or full financing when you are purchasing a home
- top financing when you are building a new dwelling
- refinancing, to help you to be able to remain resident in in your own dwelling
- improvement of your dwelling
How do I apply for a start-up loan?
- You apply for a start-up loan with the municipality where you live or want to buy a home.
- Municiplities recommend that you apply for advance approval befor you start searching for a home to buy, so that you know in advance how much money you can spend on it.
- Before applying for a start-up loan, you have to examine whether all or parts of the costs can be financed by a private bank.
- When you have found a home you wish to buy, the application needs to include a recent valuation of the property.
Contact your municipality for further information and find out if a start-up loan is a possible solution for you.
Opprettet: 07.12.2010 - Sist oppdatert: 08.03.2013