Norway Mortgage Calculator
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.
How to use the mortgage calculator
- Enter the home value or purchase price.
- Enter how much down payment you have available.
- Enter the expected interest rate and term — the calculator shows the monthly payment, loan amount and loan-to-value ratio.
How the mortgage is calculated
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:
where L is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of months.
Worked example: a home at 4,000,000 kr with 600,000 kr down gives a loan of 4,000,000 − 600,000 = 3,400,000 kr, which at 5.5 % over 25 years costs 20,879 kr per month. The loan-to-value ratio is 3,400,000 ÷ 4,000,000 = 85 %, within the Norwegian lending regulation's 90 % ceiling. Note that LTV is rarely what blocks a mortgage — for most buyers the debt-to-income cap of five times gross income is the binding constraint.
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.
If you enter an extra amount per month, the calculator simulates the payoff month by month with that extra amount added to every payment, and shows how much sooner the mortgage is paid off and how much you save in interest compared to the original term. The full amortization schedule below always reflects any extra payment you've entered.
Frequently asked questions
Do I always need 10 % down payment?
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.
What's the difference between the mortgage calculator and the loan calculator?
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.
Why does the bank require an interest rate stress test in its calculation?
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.
How much do I actually save by paying a bit extra each month?
Often more than you'd think, especially early in the loan — every extra krone goes directly toward reducing the balance, which in turn reduces the interest charged in every future month. Enter an amount in the "Extra payment per month" field to see exactly how much sooner your mortgage is paid off and how much interest you save.