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Government guarantee for a home loan and other guarantees

When you need side collateral for your home loan, guarantees are a good option. You can contact an OP cooperative bank and ask for Garantia’s loan guarantee or OP cooperative bank’s loan guarantee or apply for a state guarantee in which case government will guarantee part of your home loan. You can also ask another person to guarantee your loan.

Government guarantee for a home loan and first-time home buyer’s ASP loan

Home loans and interest-subsidised ASP loans are eligible for a government guarantee when the home is bought to be used as the permanent residence of the buyer or the family. You can agree on the government guarantee with your bank when applying for the loan.

A government guarantee can be granted when the home loan represents at the most 85 per cent (at the most 90 per cent for interest-subsidised ASP loans) of the purchase price of the home. It can cover at the most 20 per cent (at the most 25 per cent for interest-subsidised ASP loans) of the loan, altogether at the maximum 50,000 euros.

The government will charge a loan guarantee fee of 2.5 percent of the guaranteed amount with the exception of interest-subsidised ASP loans, which are not subject to this fee. In the example below, the guarantee fee would be 425 euros.

Example of a government guarantee for a home loan

The home costs €100,000. The bank grants the buyer an €85,000 loan and the buyer uses €15,000 of savings. The collateral value of the bought home is 70% of its market value, so the loan still needs a guarantee €15,000 (85,000 - 70/100*100,000). The government guarantee can be at the most 20% of the loaned amount, or €17,000 (85,000*20/100), so it covers the needed side collateral. If this was an interest-subsidised ASP loan, the government guarantee could be at the most 25% of the loan, or €21,250 (85,000*25/100).

Because of the act governing the maximum loan-to-value (LTV) ratio, the maximum home loan the bank can grant is 90% (95% for first-time home buyers) of the fair value of the collateral.

Garantia’s loan guarantee from OP cooperative bank

Garantia’s home loan guarantee is a guarantee subject to charge which you can obtain from an OP cooperative bank when you negotiate on a loan. The maximum euro amount of the loan guarantee is 55,000–100,000 per person or persons per project and a maximum of 30% of the value of the purchased apartment or house, depending on its location. The apartment or house and the customer must fulfil certain guarantee criteria. A customer may have a loan guarantee for one apartment or house in their own use. The loan guarantee is valid for a maximum of 10 years. You will be charged a one-off guarantee fee on the loan guarantee when you draw down the home loan. The size of the guarantee fee depends on the guarantee amount, and part of the fee can be offset with an OP cooperative bank owner-customer’s OP Bonuses. The loan guarantee allows interest rate hedging and changes to the repayment plan of the home loan.

Loan guarantee from an OP cooperative bank

Loan guarantees for home loans are subject to a charge and can be obtained from OP cooperative banks when negotiating the loan in connection with loan negotiations. The guarantee can be at the most 50,000 euros and at the most 25,000 per debtor, and its amount decreases as the loan is repaid.

Loan guarantees are an affordable option: the annual charge is 0.9 percent of the remaining guarantee amount, and OP’s owner-customers can pay it with their OP bonuses. They are also more flexible than government guarantees when it comes to using interest rate hedges and changing the repayment plan.

Valtiontakaus asuntolainaan ja ensiasunnon ostajan ASP-lainaan

Asuntolainaan ja ASP-korkotukilainaan voi saada valtiontakauksen, kun asunto hankitaan omaksi tai perheen ensisijaiseksi asunnoksi. Voit sopia valtiontakauksesta pankin kanssa lainanhaun yhteydessä.

Valtion takaaman asuntolainan määrä voi olla enintään 85 prosenttia (ASP-korkotukilainoissa enintään 90 prosenttia) asunnon hankintahinnasta. Takaus on enintään 20 prosenttia (ASP-korkotukilainoissa enintään 25 prosenttia) lainasta, kuitenkin maksimissaan 50 000 euroa.

Valtiontakauksen hinta muodostuu valtion perimästä takausmaksusta, joka on 2,5 prosenttia takauksen määrästä. ASP-korkotukilainan ottajalta ei peritä takausmaksua. Alla olevassa esimerkissä takausmaksun suuruus olisi 425 euroa.

Esimerkki asuntolainan valtiontakauksesta

Asunnon myyntihinta on 100 000 €. Pankki myöntää asunnon ostajalle lainaa 85 000 €, ja ostajalla on omia säästöjä 15 000 €. Ostettavan asunnon vakuusarvo on 70 % markkina-arvosta, joten lainalle tarvitaan vakuuksia vielä 15 000 € edestä (85 000 - 70/100*100 000). Asuntolainan valtiontakaus on enintään 20 % lainan määrästä eli 17 000 € (85 000*20/100), joten sillä pystytään kattamaan lisävakuuksien tarve kokonaan. Jos kyseessä olisi ASP-korkotukilaina, valtiontakaus on enintään 25 % lainan määrästä eli 21 250 € (85 000*25/100).

Enimmäisluototussuhdetta eli lainakattoa koskevan lain vuoksi pankki saa myöntää asuntoluottoa 29.6.2020 alkaen enintään 90 % (ensiasunnon ostajalle enintään 95 %) vakuuksien käyvästä arvosta.

Close relatives as guarantors

Other people may also be asked to pledge their property, such as an apartment or a summer cottage, as collateral for the home loan. They may also be asked to guarantee the loan. When such personal guarantee is used for the home loan, the guarantor pledges to repay the loan if the principal debtor is unable to make the payments. For guarantors, pledging property may be a more sensible option as this limits their liability to a specific piece of property, such as an apartment.