Tailored for construction
Financing that matches each stage of the building process
Loan for home construction and land purchase
Loan disbursement in stages, with interest charged only on the amount actually used. Professional support throughout the construction process.
Service overview
Build your dream home step by step
Our construction loan provides financing for building your home. The loan is disbursed in stages as construction progresses, so you pay interest only on the amount already received. If needed, the loan can also be used to purchase land.
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Lower payments during construction
Interest charged only on the used portion of the loan
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Energy efficiency options
The loan can be combined with financing for home insulation, heat pump installation, and solar panels
Calculator
Calculate your loan options
Before applying, check your possibilities using our mortgage calculator.
Additional information
Loan eligibility requirements
Age
From 18 up to 70 years at the end of the loan repayment period.
The loan term and conditions are determined individually, taking into account the client’s age, income sustainability, and ability to repay the loan over the repayment period.
Income
Regular and verifiable income ensuring the ability to meet loan obligations.
Minimum net income:
from EUR 780 per month – for a single applicant;
from EUR 1,500 per month (combined) – when applying with a co-borrower.
Down Payment
From 20% of the total project cost estimate;
From 5% – if an ALTUM guarantee programme is used.
The exact down payment amount is determined by assessing the construction project, the land plot, and the planned value of the building.
Collateral
The collateral is the property under construction (a land plot with a construction project) and/or an already owned immovable property.
The valuation of the property (land and/or existing collateral) is carried out by a certified valuer; during the construction process, the bank may require a repeated valuation or confirmation of construction progress (e.g. cost estimates, completion reports, or inspections).
Application process
How does the financing work?
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01
Submit your plan
Provide the construction plan, cost estimate, and required documents.
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02
Loan approval
The loan is approved after evaluating the project and your income.
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03
Disbursement in stages
Funds are released in stages according to construction progress.
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04
Pay interest only on the disbursed amount
During construction, you pay interest only on the amount already paid out.
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Standard mortgage loan
After construction is completed, the bank converts the loan into a standard mortgage with regular monthly payments.
Start building your home with BluOr Bank support
Apply for a loan online or contact our mortgage specialists. We will help you find the most suitable financing for your construction project.
Borrow responsibly!
Example:
Additional Costs
Loan arrangement fee: 1% of the loan amount
Mortgage registration in the Land Register: 0.1% of the mortgage amount
Notary costs: EUR 50
Property valuation: approximately EUR 400
Additional information
Collateral: the loan is secured by a mortgage on real estate
Insurance: property insurance is mandatory
Lender: BluOr Bank AS
Loan terms | Sample data | |
|---|---|---|
Loan amount | 255 000 EUR | |
Loan duration | 30 years | |
Interest rate | 1,8% + 6 month EURIBOR (rate as of 18.02.2026., which is 2,295%) | |
APR | 4,28% | |
Monthly payment | 1 315,00 EUR | |
Number of payments | 360 | |
Total amount payable | 473 400,00 EUR |