You apply for a HMS home loan on the HMS Loan web. There you enter information about yourself, the property and what kind of loan you wish to take.
HMS loan advisors can assist you with your application. You can contact us by phone 440 6400 or by email to hms@hms.is.
Supporting documents
The application must include:
A signed offer of purchase and a sales statement.
Confirmation of personal funds, for example a bank statement.
Last tax report’s tax assessment results.
If the loan is in addition to a loan from another credit institution we will need confirmation of the amount and credit terms of that loan.
Next steps
Following your application, you will be directed to CreditInfo for a credit assessment, to check your credit score.
You will receive confirmation of receipt by email when the application has been submitted. A loan advisor will contact you within 3 business days. If additional documentation will be requested it is important to submit them within the given deadline, otherwise the application will lapse.
You can always check the status of your application here HMS Loan web.
Loan approved
As soon as a loan application is approved, the loan is sent for documentation. This usually takes 1-3 business days.
When the loan documents are ready, you can pick them up during our opening hours in Borgartún 21, Reykjavík. Next you have to take them to the District Commissioner’s office (Sýslumaður) for registration (þinglýsing), along with the purchase agreement.
When the purchase agreement and the loan documents have been registered at the District Commissioner’s office (Sýslumaður), you can either mail them to us or bring them to our office in Borgartún 21, Reykjavík.
Loans are disbursed 1-2 business days after receipt of the loan documents.
The first interest date is 5 days from the loan purchase date. The first instalment of the loan will be on the first day of the second month thereafter.
Example: First date of interest is 10. January. The first instalment is on 1. March.
You can check the status of your loan and make extra down payments here HMS Loan web .
Loan denied
If a loan application is denied, you will receive an email with our formal ruling and there you can see our reasons for refusal. If some documents are missing or if your situation has changed in some way, you can apply for a revision of your application and provide us with new information.
HMS rulings can be appealed to the Welfare Appeals Committee
Service provider
Housing & Construction Authority