HMS housing loans

The HMS loans are equal payment loans, with fixed interest rates and can be indexed or non-indexed.

• Property value (Fasteignamat) has to be under ISK 73 million.

• The ratio of a loan to the price of the property can be a maximum of 80%.

• The total loan amount per property can be a maximum of ISK 44 million.

• Non-indexed loans

  have a fixed interest rate for 3 years at a time.

• Indexed loans

  have a fixed interest rate for 5 years at a time.

• It is also possible to get fixed-rate indexed loans for the duration of the loan period.

Exceptions:

• Special needs loans can amount to a maximum of ISK 14,378 million and may be in addition to a ISK 44 million loan. They can be 90% of the price and are indexed only.

• Equity loans carry no interest but are a percentage of the property price.

See Table of interest

Cost of taking a loan

• Loan charge is 58.500 ISK

  • First buyers pay no loan charge for base loans (primary mortgage).

• Registration fee at the District Commissioner’s office (Sýslumaður) is ISK 2.700

• A credit rating for an individual is ISK 8.400 and ISK 16.400 for couples/cohabitants.