Young Family Loan

Purpose of the loan

• Purchase and/or construction of a residence
• Renovation of the existing residence

Target group

• Parents or single parents, who are raising a child (under 16 years of age) and are Citizens of the Republic of Estonia or hold permanent residence permit in Estonia;
• A 2-year grace period in the event of childbirth.

Loan

• Minimum self-financing: 10% of the value of the immovable security.
• Loan can be applied for a maximum of 30 years.

Security

• Up to 24% of the value of the immovable security  (not exceeding 19 200 EUR (300 414.72 EEK)).
• 3.0% of the maximum responsibility of the person who secures the loan.
• The immovable must not be encumbered with real rights or obligations (mortgage, personal right of use, servitude, right of superficies, tenancy contract, etc.), except for encumbrances provided by the law of property or the law of obligations;
• The valuation report must not be older than 2 months.

Notes

In addition to these terms and conditions, the general terms of Nordea Estonia housing loan must be met;