Housing association loan

A loan for housing associations allows housing associations to lower their maintenance costs by renovating the apartment building and increasing its energy efficiency.

A loan for housing associations is intended to be used for renovating apartment buildings and improving their general energy efficiency.

For that purpose, we offer longer repayment periods than those of ordinary loans.

Flexible deadlines, convenient period of grace

  • The maximum term for the housing association loan is 15 years. The longer repayment period ensures smaller monthly repayments.
  • You can apply for a period of grace of up to 12 months.
  • To apply for the loan, the housing association must have been active/registered for at least 24 months.
  • The housing association must include at least two apartments.
  • The building must be registered in the Buildings Register.
  • The general condition of the building must not be very poor (in danger of collapse), otherwise a plan must be submitted for the overall renovation of the building.
  • The housing association must not have any pending debts to service providers, nor payment defaults during the last 12 months of activity.
  • Association members must not have debts to the association worth more than 10% of total bills from the last six months.
  • The loan is intended for the renovation of the apartment building.
  • The minimum amount of the loan is 6,400 euros.
  • The loan collateral is a pledge on the part of the members of the housing association.
  • Self-financing from 0%.
  • Housing associations consisting of 2 to 11 apartments must provide additional collateral through KredEx for up to 75% of the loan amount.
  • Repayment period up to 15 years.
  • Period of grace up to 12 months.
  • The loan will be issued based on invoices and official statements. Payments will be made directly to the construction company responsible for the renovation work.
  • The carcass of the building must be insured.
  • Most of the settlements of the housing association must be made through our bank.


  • The construction company responsible for the renovation works must have at least two years of business activity and prior experience with similar works.
  • The service provider must not have previous payment defaults.
  • The construction company must guarantee the work carried out for at least two years.
What you need in order to apply for the loan?
  • Loan application (in Estonian)
  • The decision of the general meeting of the apartment association in line with its statutes, with the signatures of the members of the association.
  • Registry card and statutes of the housing association.
  • Certificate of the Buildings Register or an excerpt from the Land Register on the apartment owners.
  • Housing association annual report for the last financial year, as well as financial reports on the current year, not older than two months.
  • Report on the debts of the apartment owners.
  • Certificate for the technical inspection of the apartment building and/or energy audit and/or building permit.
  • Economic plan for the apartment building or an excerpt thereof regarding the respective works.
  • Certificates or invoices from the past months issued by service providers to prove that there are no pending debts.
  • Bank statements from the last six months if the housing association has not previously been our client.
  • The bank maintains the right to request additional documents and information it deems necessary to review the loan application.