Work out the monthly payment on a Norwegian mortgage based on home value, down payment, interest rate and term — and see if your down payment covers the 10 % requirement.
At — % interest, the monthly payment would be — — — more per month than today.
The loan amount is the home value minus your down payment. The monthly payment is then calculated using the same annuity formula banks use for fixed monthly payments:
Loan-to-value ratio (LTV) is how large a share of the home value is financed by the loan, calculated as loan amount ÷ home value × 100. Norway's lending regulation normally requires at least 10 % down payment, i.e. a maximum 90 % loan-to-value ratio.
Yes, as a general rule Norway's lending regulation requires at least 10 % down payment when buying a home (lowered from 15 % as of January 1, 2025). Some exceptions exist, including the use of a guarantee from family or BSU savings in combination with other schemes.
The mortgage calculator starts from home value and down payment to find the loan amount, and also shows the loan-to-value ratio. The general loan calculator lets you enter the loan amount directly, and so suits any type of loan.
Norwegian banks are required to check that you can handle an interest rate increase of 3 percentage points, but in any case a rate of at least 7 % (an interest rate stress test), before approving the loan, to ensure you can service it even if rates rise.