ASP saving begins by opening an ASP account. You can open an ASP account easily at op.fi.
When you save at least 10% of the purchase price of the home, we will lend you the rest. At least a part of the savings must be in the ASP account: in order to receive an ASP loan, you must have made deposits to 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.