1. Use the home loan calculator to estimate the monthly instalment suitable for you
Before applying for a home loan, you can use the home loan calculator to check how the loan amount, repayment period and interest rate affect the monthly instalment. The loan amount is suitable if you still have enough money left over for living and saving after the monthly home loan repayment. The calculator also shows the amount of OP bonuses you will earn from your loan if you are an OP cooperative bank owner-customer.
2. Apply for a home loan
You can apply for a home loan online, even directly from the loan calculator. When you apply for a loan, you have to fill in your personal details, as well as information about your income, expenses, debts and wealth. The loan application doesn’t obligate you to take out the loan. We’ll use your application to calculate our preliminary loan offer for you.
Read more about home loans and apply
3. Home loan offer
You’ll then get a preliminary home loan offer from us. We’ll contact you to book a loan negotiation where we’ll review matters such as your loan collateral. After the loan negotiation, you’ll receive our binding loan offer. The loan offer is generally effective for three months. It will not obligate you to take out the loan.
After receiving the preliminary loan offer, you can confidently go to home viewings. Knowing that you will get financing, you can make a conditional purchase offer once you find your dream home. Your offer to buy the home should be conditional because our loan offer will be preliminary until your loan collateral is approved by the bank.
Read more about collateral for loans
4. Purchase a home
When you find the home of your dreams, and the seller accepts your offer, it’s time to actually buy the home. The purchase is usually concluded at the buyer’s bank, so taking out the loan, transferring the funds to the seller, pledging the home as collateral to the bank and all other matters related to the purchase can be handled at the same bank.
Read more about purchasing your first home and the steps for buying a home
