New construction loans are provided to individuals who are building new housing or have purchased properties that are not ready. You can apply when a building is weather-tight, provided the construction cost is known. Until then, the project is usually financed with personal funds or other loans.
Property value (Fasteignamat) has to be under ISK 73 million.
The total loan amount per property can be a maximum of ISK 44 million.
A loan can be up to 80% of the property´s price or its market value (the lower amount applies).
Service provider
Housing & Construction Authority