Norway Debt-to-Income Calculator
Work out your debt-to-income ratio — total debt relative to gross annual income — and see if you're within the lending regulation's limit of max 5×.
How to use the debt-to-income calculator
- Enter all the debt you have — mortgage, car loan, consumer loans, credit cards and student loans.
- Enter gross annual income (before tax).
- The calculator shows your debt-to-income ratio and whether it's within Norwegian banks' statutory limit.
How the debt-to-income ratio is calculated
Debt-to-income ratio is the relationship between all your debt and gross annual income:
Worked example: 3,000,000 kr of debt against a gross income of 700,000 kr is a ratio of 3,000,000 ÷ 700,000 = 4.3×. The Norwegian lending regulation caps this at five times income, or 700,000 × 5 = 3,500,000 kr, leaving 500,000 kr of headroom. Remember that debt-to-income is only one of three tests — the bank must also confirm 10 % equity and that you could absorb a substantial rate increase.
Norway's lending regulation requires that banks normally don't lend you money that would make your total debt exceed 5 times your gross annual income. This applies to all debt — not just the new loan you're applying for — and is one of the most common reasons mortgage applications are rejected, even when the down payment is sufficient.
If you're over the limit, the two most common ways down are either reducing other debt (especially expensive consumer loan or credit card debt, which counts the same as a mortgage in the ratio regardless of interest rate), or increasing the income side — for example by applying together with a partner or spouse, since the bank then normally adds together both applicants' income and debt.
Norwegian student loans (Lånekassen) count toward your debt-to-income ratio even during periods when you're not making payments (for example while studying), since it's the total debt registered in the debt register that counts — not just what you're actively servicing right now.
Frequently asked questions
What counts as debt in the debt-to-income ratio?
All debt you have with every lender: mortgage, car loan, consumer loans, credit card debt and student loans. The bank looks this up itself via Norway's debt register, so it's important to count everything, not just the new loan.
What happens if my debt-to-income ratio is above 5×?
The bank normally can't lend you more, even if you have enough down payment and ability to service the loan. Some banks have a small flexibility quota they can use in individual cases, but it's not something you can expect to get.
Is debt-to-income ratio the same as loan-to-value ratio?
No. Loan-to-value ratio (LTV) is the loan amount relative to the property's value. Debt-to-income ratio is all your debt relative to your income. The mortgage calculator shows loan-to-value ratio, this calculator shows debt-to-income ratio.
Does my student loan count even if I haven't started repaying it?
Yes. Norwegian student loans (Lånekassen) count toward your total debt regardless of whether you're in a period without payments (for example while studying) — it's the debt registered in the debt register that counts, not just what you're currently servicing.
Can I apply together with someone to improve my debt-to-income ratio?
Yes. If you apply together with a partner or spouse, the bank normally adds together both applicants' income and debt, which can give a better combined debt-to-income ratio than applying separately.