ASP loan
Interest subsidy loan and state guarantee for first-time homebuyersYou are entitled to a government interest subsidy on your ASP loan
You are entitled to a government interest subsidy for up to ten years on your ASP loan or part of it. The interest subsidy helps pay off your loan instalments if interest rates rise.
You can get a state guarantee for your ASP loan
You can get a free state guarantee for your ASP loan. With the state guarantee, your ASP loan may be up to 90% of your home’s purchase price.
As an OP cooperative bank owner-customer, your loans will earn you OP bonuses
From 1 January 2026 onwards, you can choose how you use your OP bonuses. You can use OP bonuses to pay banking service charges and insurance premiums, invest in funds through OP-mobile or pay legal service fees, or you can take the bonuses as cash. The default selection is to use OP bonuses for banking service charges and insurance premiums.
Apply for an ASP loan or consent to joint application
Start applying for an ASP loan, continue with the application you started or add the required attachments.
Confirm a joint ASP loan application initiated by another applicant.
Start applying for an ASP loan, continue with the application you started or add the required attachments.
Confirm a joint ASP loan application initiated by another applicant.
What is an ASP loan?
The ASP system is based on the Act on Bonus for Home Savers. In the system, the state assists first-time homebuyers. ASP loans have a more affordable interest rate than ordinary home loans. You are entitled to a government interest subsidy and a free state guarantee on your ASP loan or a part of it.
ASP loan interest subsidy
The interest subsidy is valid for 10 years: if the interest on your ASP loan exceeds 3.8% during the interest subsidy period, the state pays 70% of the interest exceeding that rate. You can get a state guarantee of up to 60,000 euros per home (as of 1 January 2023).
Maximum amount of ASP interest subsidy loan as of 1 April 2024
In ASP loans with an interest subsidy, the maximum loan amount depends on where the home is located and the number of ASP loan applicants.
| Municipality | One ASP loan applicant | Two ASP loan applicants |
|---|---|---|
| Helsinki | 230,000 euros | 345,000 euros |
| Espoo, Vantaa and Kauniainen | 185,000 euros |
277,500 euros
|
| Tampere, Turku | 160,000 euros | 240,000 euros |
| Other municipalities | 140,000 euros | 210,000 euros |
If the price of the home is higher than the maximum amount of your ASP interest-subsidy loan, you can apply for an additional ASP loan to cover the difference.
To receive an ASP loan, you need an ASP account
The journey towards buying a first-time home begins with opening an ASP Account. You can open an ASP Account and conveniently start saving with the ASP Account at op.fi. You can get started with saving just 50 euros a month.
When you save at least 10% of the home purchase price into the ASP Account and meet other terms and conditions under the ASP scheme, we will lend you the rest. In order to get an ASP loan, you must save into the ASP Account for at least eight quarters.
What collateral is required for an ASP loan?
As with all home loans, sufficient collateral accepted by the bank is required for an ASP loan. Generally, 70% of the value of the home being purchased is accepted as collateral. In addition to the home, you can receive a free state guarantee of up to 60,000 euros for an ASP interest subsidised loan. In many cases, the state guarantee and the home being purchased are sufficient collateral for an ASP loan.
If you need a larger loan than the collateral value of your home and the state guarantee, you may need additional collateral. When you apply for an ASP loan from us, we will get in touch with you as soon as possible. Our expert will let us know if you require additional collateral.
ASP temporary financing
You can buy your first home or start building it, even if you don’t yet have enough savings in your ASP Account or haven’t saved for the required number of quarters. In such a case, you can apply for ASP temporary financing as a normal home loan, to be agreed separately with your bank.
You can apply for ASP temporary financing when you have saved the required amount in your ASP Account for at least four quarters.
During the temporary financing period, you will continue ASP saving until you have 10% of the home’s price. When you’ve fulfilled the ASP loan’s terms and conditions, the temporary financing can be converted into ASP loan financing. If you apply for ASP temporary financing jointly with another applicant, both applicants must fulfil the terms and conditions.