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The Local _ Finance _ 15% house buying down payment

Posted by: NIL 9.Oct.2019, 09:15 AM

Hi everyone

I am wondering how people can afford paying 15% dawn payment to buy a house/apartment.

Does anyone have an experience to borrow part of it from the bank? (Of course the interest will be higher)

thanks

Posted by: gterreni 9.Oct.2019, 04:39 PM

Hej!
Officially, banks tell you that you are supposed to have that 15% without borrowing.

In practice, most banks will propose you a personal loan in case you can't afford the full amount. Hell, even SBAB (that is at least partially state-owned I believe) offers a loan as part of the standard mortgage calculator and without too much of a fuss.

These loans are usually between 6 and 36 months, have higher interest and not more than 250k, so plan your expenses well because that's quite a hit.

Your choice with which bank to ask this loan to, but it's certainly better to try and avoid the expense all together.

Posted by: TheExpatEagle 9.Oct.2019, 07:24 PM

QUOTE (NIL @ 9.Oct.2019, 10:15 AM) *
Hi everyone

I am wondering how people can afford paying 15% dawn payment to buy a house/apartment.

Does anyone have an experience to borrow part of it from the bank? (Of course the interest will be higher)

thanks


It's the same as any other country which requires you to have a 'deposit' or part of the final price yourself.

You can get what the Swedes call a 'top loan' to pay it but as you say it will be very expensive and not designed to be for a long period.

Posted by: skogsbo 10.Oct.2019, 05:54 AM

Top loans.

You won't get one if you have not shown any capacity to save at least some of the deposit though.

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