🏡 Introduction
How to Get a Mortgage in Norway as a Foreigner. Norway is a dream destination for expats—with its stunning fjords, high salaries, and excellent quality of life. However, getting a mortgage in Norway as a foreigner can be tricky. Unlike locals, expats face stricter rules, higher down payments, and extra paperwork.
This 2025 guide covers:
✅ Eligibility rules for foreigners
✅ Best Norwegian banks for expat mortgages
✅ Interest rates in NOK
✅ Free mortgage calculator (estimate payments)
📋 Eligibility for Foreigners
To qualify for a mortgage in Norway as a foreigner, you’ll need:
1. Residency Status
- EU/EEA Citizens: Easier access (15% down payment).
- Non-EU Citizens: Require a work visa + 25-40% down payment.
2. Income Requirements
- Minimum NOK 500,000/year salary for most banks.
- Self-employed? Show 3 years of tax returns.
3. Down Payment (NOK)
| Borrower Type | Down Payment Required |
|---|---|
| Norwegians | 15% (NOK 450,000 for a NOK 3M home) |
| Expats (EU) | 15-20% |
| Expats (Non-EU) | 25-40% |
💰 Interest Rates & Fees (2025)
Current Mortgage Rates in NOK
| Type | Interest Rate | Best For |
|---|---|---|
| Fixed Rate | 5.5% – 6.5% | Stability |
| Variable Rate | 4.5% – 5.5% | Short-term savings |
Additional Fees
- Appraisal Fee: NOK 5,000 – 10,000
- Loan Processing Fee: 0.5% – 1% of loan amount
📊 Norway Mortgage Calculator
Estimate your monthly payments (in NOK): How to Get a Mortgage in Norway as a Foreigner
Norway Mortgage Calculator
💡 Pro Tip: Bookmark this calculator to plan your budget!
🚀 Tips to Improve Approval Chances
- Increase Your Down Payment (40% = better rates).
- Get a Norwegian Co-Signer (Family/friend with good credit).
- Use a Mortgage Broker (They negotiate better terms).
- Avoid Job Changes Before Applying (Banks prefer stability).
❓ Frequently Asked Questions (FAQ)
Q1. Can EU citizens get a mortgage easily?
✅ Yes! EU citizens get similar terms as Norwegians (15% down payment).
Q2. What if I’m self-employed?
⚠️ Harder, but possible. Show 3 years of tax returns and higher savings.
Q3. How long does approval take?
⏳ 4-8 weeks (longer if documents are missing).
📌 Final Thoughts
Getting a mortgage in Norway as a foreigner is tough but not impossible. Focus on:
✔ Saving a big down payment (25%+)
✔ Choosing the right bank (DNB, Nordea, SpareBank 1)
✔ Preparing all documents in advance
Need help? Norwegian mortgage brokers (like Finance Norway) can assist!