Mortgage loan for buying a home
For individuals when purchasing housing in one of the new projects of residential houses financed by BluOr Bank
Loan up to EUR 300,000
Down payment starting from 10%*
(*5% with Altum support)
Security – the purchased property
Advantages of obtaining a loan in BluOr Bank
Quick steps to getting a loan
Borrow responsibly, assessing the need for a loan and the possibility to repay it.
* Please provide accurate and complete information in the application so that we can assess your ability to repay the loan and be able to decide on the possibility of granting the loan. If necessary, we will also ask you to provide documents confirming your income and necessary for the evaluation of the lending transaction.
Loan terms and options
|Loan amount||Up to EUR 300,000|
|Down payment||Starting from 10% *|
|Repayment term||Up to 30 years|
|Interest rate||Individual interest rate from 1.9% + 6 m EURIBOR (min. 0%) **|
|Annual percentage rate (APR)||APR is the estimated total cost of the loan for the borrower,|
expressed as an annual percentage of the loan amount ***
|Fees||Document review fee: EUR 0.00|
Loan processing fee: EUR 0.00
Escrow Account Agreement drafting fee: EUR 0.00
|Security||Real estate to be purchased|
|Insurance||Insurance is required for the purchase of property|
|Repayment schedules||An annuity or amortization schedule can be used to repay the loan|
* With Altum support – pay only 5% of the down payment
** A variable interest rate. The interest rate consists of a 6-month Euribor rate and an individually determined added rate, which is calculated individually, taking into account regular income, existing credit obligations and credit history. Changes in the EURIBOR value affect the size of monthly payments.
*** To calculate the APR rate, please use the calculator below.
Calculate and evaluate your capabilities
What is APR?
The annual percentage rate (APR) is the total cost of credit obligations on the day of calculation, expressed as an annual percentage of the loan amount. APR is calculated according to the Cabinet Regulation No. 691 of 25 October 2016 “Regulations Regarding Consumer Credit”, assuming, inter alia, that the interest rate is set upon the conclusion of the loan agreement and remains unchanged, that the loan is repaid in accordance with the procedure established by the loan agreement, and the loan amount is paid in full in one payment.
What is Euribor?
Euribor is short for Euro Interbank Offered Rate. The Euribor rates are based on the interest rate at which European Union banks lend funds to each other. It is a reference interest rate that is determined daily and covers periods from a week to a year. Current Euribor rates are available here.
What is Altum?
In cooperation with the state-owned development finance institution ALTUM, support is available for the purchase and construction of a home. More detailed information about the terms and support programmes is available on the ALTUM website.
Available ALTUM programmes:
• For young professionals (Housing Guarantee)
• For families with children (Housing Guarantee)
• For soldiers of the National Armed Forces (Housing Guarantee)
• Subsidy Programme “Balsts”
Home insurance: minimum requirements of the bank
• Insurance amount: not less than the market/restoration value;
• Term of insurance: from the date of acquisition of ownership to the end of the loan agreement;
• Insurance companies: Compensa, BTA, Balta, Ergo, IF P&C Insurance
• Beneficiary of insurance indemnity: BluOr Bank AS.
Types of loan repayment schedules
An annuity or amortization (descending) schedule can be used to repay the loan.
With an annuity schedule, the monthly total amount of loan repayment and interest payments remains constant throughout the period of the applicable interest rate (the period between interest rate changes).
With an amortization (descending) schedule, the loan is repaid in equal parts on a monthly basis, and the amount of interest payable depends on the remaining outstanding loan amount.