Home construction loan
Loan for construction
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A home construction loan that fits your needs
You can apply for the loan for building a house, flat, holiday home or buy-to-let home.
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Pay only interest on the loan during construction
You can have a repayment holiday during construction: you pay only interest on the loan and start repayments when the building is completed.
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OP bonuses on your loans
If you are an OP cooperative bank's owner-customer, loans generate OP bonuses to you. For example, for home loan borrowers, the OP bonus benefit is often sizeable – up to hundreds of euros a year – and bonuses can be used for the payment of insurance premiums, among other things.
Start a home construction loan application or continue a previously started application.
Approve a joint home construction loan application started by the other applicant.
Start a home construction loan application or continue a previously started application.
Approve a joint home construction loan application started by the other applicant.
To apply for a home loan, you need an online bank user ID. If you don’t have a user ID with any bank, our Customer Service will help you. Contact our Customer Service
Cost calculator helps you to get an idea of your construction costs
It pays to begin preparing for a construction project, whether for building a single-family home or a holiday home, by outlining a rough estimate of the construction costs.
An instant cost calculator helps you to get an idea of your construction costs. The calculator asks you to provide information on the building, such as the name of the town/city, the size of the building, the heating and ventilation solutions, and the proportion of the construction work that you will order from a professional.
How can I obtain a home construction loan?
First get a cost estimate on the construction work from a professional and then send a loan application online. Contact us for financing as soon as your start planning so that our experts can tailor a home construction loan that suits your needs. At the same time, we will agree on the repayment method, and check that your insurance cover during construction is in order.
Home construction loan is not restricted to building a home for yourself. You can also apply for the loan for building a holiday home or a buy-to-let home. You can also apply for the loan for buying a plot, provided that construction work on the plot will begin within a certain time limit.
Applying for a home construction loan
- Fill in a home loan application online
If you’re applying for a loan together with another person, state it in your application. After you have sent the application, the other applicant needs to give their consent to it using the link above on this page. - We will contact you
Our specialist will discuss the loan with you, including collateral required for the loan. - We’ll go through all the necessary details with you.
- You will get a loan offer that is binding on the bank.
Example calculation: Home loan is a one-off loan. Let's look at a home loan where the loan amount is 170,000 euros. The loan term is 20 years. The loan margin is 0.7%. Calculating with the 12-month Euribor of 4.116% (valid on 16 Aug 2023), the effective interest rate of this home loan will be 5.0%. In addition, a loan servicing fee of 2.50 euros will be charged each month. When the loan is drawn down, a one-off origination fee of 680 euros will be charged. The estimated total cost of the loan is 266,183.85 euros.
In this calculation, we assumed that the entire loan was drawn down at once, that the loan interest rate, fees and charges stay the same throughout the loan term and that the loan is repaid in equal payments of 1103.77 euros every month. The home loan is granted by an OP cooperative bank.
The loan is granted by an OP cooperative bank.