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Updated 23. June 2026
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Freedom Rahoitus
Representative example: €10,000, 10 years, 120 instalments, annual percentage rate (APR) 7.21%, nominal interest rate 6%, costs €3,923 and total €13,923.
Sortter.fi CPS
Representative example: When the loan amount is €10,000, the interest rate is 7%, the repayment period is 5 years and the arrangement fee is €0, the monthly instalment is €198.01, the total amount to be repaid is €11,880.60 and the annual percentage rate (APR) is 7.23%.
Rahalaitos.fi
Representative example: Example of borrowing costs for a €500 loan with a 1-year repayment term: Nominal interest rate 10.40%, Annual percentage rate (APR) 10.91%, Account management fees €0. Set-up and monthly fees: €0, Interest charges: €29, Total costs: €529. The loan term on offer can range from 1 to 15 years and the interest rate from 4.5% to 20%.
Omalaina.fi
Representative example: The actual annual interest rate is 6.26%, calculated on a typical loan amount of €10,000, with a repayment period of 5 years, an account management fee of €5, an opening fee of €0 and an illustrative interest rate of 5.0%. The total amount to be repaid is therefore €11,623, or €193.71 per month. The final annual percentage rate, the loan term and the monthly repayment amount are set out in the loan agreement.
Etua.fi
Representative example: Nominal interest rate 6.99% and annual percentage rate 7.9%, for a loan amount of €15,000 and a loan term of 10 years (including a €0 arrangement fee and an account management fee of €5 per month). Loan term: 1–18 years. The nominal interest rate offered may vary between 4.68% and 20%, and other annual costs between €0 and €150. Full details are set out in the loan offer.
Morrow Bank
Representative example: interest rate 12.60%, annual percentage rate 15.33%, €10,000 over 5 years, set-up fee €45, account management fee €8 per month, total €14,070, monthly repayment €235.
Rahoitu.fi
Representative example: With a loan of €10,000 and a repayment period of 5 years, the monthly instalment is €232.5. The monthly instalment includes a monthly administration fee of €5 and an arrangement fee of €90. The total cost of the loan is therefore €13,951. The nominal interest rate is 12.60% and the annual percentage rate (APR) is 14.9%.
Ferratum.fi
Representative example: Ferratum Flexible Credit is a revolving credit facility of 4,000 EUR, which remains available to the customer up to the agreed credit limit. The first withdrawal is paid into the customer’s account between 7:00 and 23:00. Fees: account management fee of 12.00 EUR per month, nominal annual interest rate of 19.97% and annual percentage rate (APR) of 29.79%. The estimated total cost of the credit is 4576.59 EUR, assuming the customer withdraws 4000 EUR in a single transaction and repays it in 12 monthly instalments.
Etsilaina.fi
Representative example: Interest rates on loans are individual. Your specific interest rate will be stated in the loan offer. The loan offer is not binding. Loan term 1–15 years, loan amount up to €60,000, annual loan costs €0–150, interest rate 4–20%. Example: €10,000, 10 years, 120 instalments, effective annual interest rate 7.21 per cent, nominal interest rate 6 per cent, costs €3,923, total €13,923.
Banken.fi
Representative example: The loan term can be between 1 and 15 years, the loan amount between €1,000 and €70,000, and the nominal interest rate between 4% and 20%. Example: With a loan amount of €20,000, an interest rate of 4.5%, a repayment term of 9 years and an account management fee of €5 per month, the monthly instalment is €231 and the total amount to be repaid is €24,900. Please note that you can also repay the loan sooner.
Haenyt.fi
Representative example: The loan term on offer ranges from 1 to 15 years. The actual annual interest rate on the loans is a minimum of 4.5% and a maximum of 38%. Loan example: If a €10,000 loan is repaid over 5 years, the total amount to be repaid is €12,866.64. This means that the costs amount to €2,866.64 and the annual percentage rate is 10.91%.
Zmarta
Representative example: With a loan of €15,000 over a 6-year term, the monthly repayment is €270 for 72 months. In this case, the total cost of the loan is €19,468, the nominal interest rate is 9% and the annual percentage rate (APR) is 9.38% (including a €0 administration fee and a €0 arrangement fee). Lenders’ loan amounts range from €1,000 to €70,000, with a nominal interest rate of 4.41–20% (annual percentage rate 4.5–38 per cent) and loan terms ranging from 1 to 15 years. Lenders process all applications automatically to ensure swift and responsible credit decisions.
Creditstar
Representative example: Creditstar is an unsecured credit facility of up to 3,000 euros, with a nominal interest rate of 14.99%, a credit opening fee of 0 euros, and an account management fee of 0.01% per day of the credit limit. Example of loan repayment: The annual percentage rate (APR) for a loan of €2,000 is 23.86%. The calculation takes into account a nominal interest rate of 14.99% and a monthly loan administration fee of €6. The total amount of the loan and loan costs is €2,238.12, with 12 instalments.
iRaha.fi
Representative example: Example of loan repayment: a loan of 500 euros, loan term 30 days, 1 repayment instalment, interest of 7.92€, loan administration fees €5.00, total credit costs €12.92. Total amount of the loan and loan costs: €512.92, interest rate: 19%, annual percentage rate (APR): 36.39%.
Minunraha.fi
Representative example: Example of loan repayment: a loan of 500 euros, loan term 30 days, 1 repayment instalment, interest of 8.13 euros, loan administration fees €5.00, total credit costs €13.13. Total amount of the loan and loan costs: €513.13, interest rate: 19.5%, annual percentage rate (APR): 20.5%.
Cashday.fi
Representative example: Example of loan repayment: a loan of 500 euros, loan term 30 days, 1 repayment instalment, interest of 8.13 euros, loan administration fees €5.00, total credit costs €13.13. Total amount of the loan and loan costs: €513.13, interest rate: 19.5%, annual percentage rate (APR): 20.5%.
Neolaina.fi
Representative example: Example of loan repayment: €400 loan, loan term 30 days, 1 repayment instalment, interest €6.33, loan administration fees €5.00, total credit costs €11.33. Total amount of the loan and loan costs: €411.23, interest rate: 19%, annual percentage rate (APR): 20.25%.
Vippi.fi
Representative example: Annual Percentage Rate (APR) for a loan of €1,500: 28.5%. The calculation is based on an interest rate of 19% and a monthly loan servicing charge of €4.56. The total amount of the loan and loan costs is €1,713.48, with 12 instalments of €142.79 per month.
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Securing mortgage loans in Finland requires a shift in perspective for expats used to the banking cultures of North America or the United Kingdom. While the Finnish banking system is highly digital and efficient, it operates on a relationship-based model where the borrower’s long-term financial stability is scrutinized through a very specific local lens. Local lenders focus heavily on your net monthly income and existing debt-to-income ratios, often adhering to strict stress-test calculations mandated by the Financial Supervisory Authority (FIN-FSA).
The Finnish property market is unique due to the prevalence of housing companies (asunto-osakeyhtiö). When you buy an apartment, you are technically buying shares in a company that grants you the right to occupy a specific unit. This structure affects how loans are secured, as the shares themselves serve as the primary collateral. Understanding these structural differences is the first step toward a successful application. This information is for educational purposes only and does not constitute financial advice; approval is never guaranteed and depends on individual creditworthiness.
The Role of Self-Financing and Collateral
Finnish regulations generally require a minimum down payment, often referred to as the self-financing share. For first-time buyers, this is typically 5%, while for others, it can be 10% or higher. However, the bank also looks at the collateral value of the property. Local banks usually value a property at about 70% of its market price for collateral purposes. If your down payment does not cover the remaining 30%, you may need additional guarantees.
Expats can sometimes bridge this gap using a government-backed guarantee (valtiontakaus) or by purchasing a private guarantee from the bank. If you are also managing other liabilities, you might find that combining your existing debts into a single payment helps improve your solvency profile before you approach a mortgage lender. High monthly outflows on consumer debt can significantly reduce the maximum mortgage amount a bank is willing to offer.
Understanding Euribor and Interest Structures
The vast majority of Finnish mortgages are tied to the Euribor, specifically the 12-month Euribor. This means your interest rate will fluctuate once a year based on market conditions. While fixed-rate mortgages exist, they are less common and often come with higher initial costs or restrictive terms. Borrowers should prepare for volatility by ensuring their budget can handle a 2% or 3% increase in rates.
Banks often offer an “interest cap” (korkokatto) as an insurance product. You pay a fee or a slightly higher margin in exchange for a guarantee that your interest rate will not exceed a certain level for a set period. Before committing to these add-ons, evaluate if your savings could act as a natural buffer instead. If you need funds for smaller immediate expenses like moving costs or furniture, exploring different unsecured credit options might be more flexible than over-leveraging your primary home loan.
The ASP System for Young Expats
Finland offers a unique incentivized savings program called ASP (Asuntosäästöpalkkiotili) for individuals aged 18 to 44. If you plan to live in Finland long-term, opening an ASP account can be highly beneficial. After saving for at least eight quarters, the state provides a free guarantee and a better interest rate than a standard mortgage. This system is open to expats, provided they meet the residency and age requirements.
Required Documentation for Expats
Lenders will demand a paper trail that proves your link to the Finnish economy. Having a permanent employment contract is the strongest asset you can hold. Freelancers or those on fixed-term contracts will face much higher scrutiny and may be asked for multiple years of tax returns. Use the following table to prepare your digital folder before the first meeting.
| Document Type | Requirement Detail |
|---|---|
| Proof of Income | Latest 3 months of payslips and your most recent tax certificate (verotodistus). |
| Employment Contract | A signed copy showing your start date, salary, and duration of employment. |
| Identification | A valid passport and your Finnish personal identity code (henkilötunnus). |
| Asset Summary | Statements of savings, investments, or property owned outside of Finland. |
| Debt Overview | Details of any financing for your vehicle or other international liabilities. |
Housing Company Loans and Fees
When browsing property listings, you will notice two prices: the sales price (myyntihinta) and the debt-free price (velaton hinta). The difference is the housing company loan (yhtiölaina). This is a debt taken out by the building association for renovations or original construction. As an owner, you are responsible for your share of this debt, usually paid via a monthly financial charge (rahoitusvastike).
Banks calculate your affordability based on the debt-free price. They will include the monthly housing company fees in your living expenses. It is vital to check the housing company’s five-year plan (kunnossapitotarveselvitys) to see if major renovations like plumbing (putkiremontti) are scheduled, as these can lead to a sudden increase in your monthly costs and affect your ability to service mortgage loans in Finland.
Can I get a mortgage in Finland without a permanent residence permit?
Yes, but it is more difficult. EU citizens have an easier path, while non-EU citizens usually need a continuous (A) permit. Banks may require a higher down payment if your residency status is temporary.
What is the typical mortgage term in Finland?
Most Finnish mortgages are issued for 20 to 25 years. 30-year terms are becoming more common but remain less frequent than the 25-year standard.
Do I need to buy life insurance for a mortgage?
While not legally required, many Finnish banks strongly recommend or require 'loan protection' insurance that covers payments in case of death, disability, or unemployment.
Is the interest on a mortgage tax-deductible?
As of 2023, the tax deductibility of mortgage interest for primary residences has been phased out in Finland. It is no longer a significant factor in tax planning for homeowners.
Last updated: 23. June 2026