Cabin Loan
A vacation home loan is a mortgage in which the bank takes the vacation home as collateral.
You can borrow up to 60% of the purchase price, but if you have additional collateral, you can borrow the entire purchase price.
This is how we help you:
Fill in the application form
It only takes a few minutes and is completely
free and non-binding for you.
We talk to the banks
Your advisor will talk to our partners and find the
best solution for you.
Receive a non-binding offer
Once we've landed the solution we
most believe in, we'll contact you for a
no-obligation quote.
Equity for a vacation home loan
How much equity do you need to have to apply for a vacation home loan?
The general rule is that you can borrow 60–75% of the purchase price. This varies somewhat depending on location and condition. If the cabin is located in a well-established and attractive cabin community where most cabins sell quickly, you’ll often be approved for a higher loan-to-value ratio.
The difference between the amount you can borrow using the cabin as collateral and its actual cost must be covered by your own equity.
All or part of the vacation home loan may also be offered against additional collateral in the borrower’s primary residence.
If you buy an energy-efficient cabin or upgrade an existing cabin to energy efficiency class A or B, you can apply for a green cabin loan.
Do you need to borrow a little extra to repair or upgrade your cabin?
Do you already own a cabin but realize it’s time for a renovation or some necessary maintenance? If so, feel free to contact us to find out what your options are.
Would it be best for you to take out a small additional loan for the cabin, or to refinance your mortgage ?
Is a home equity loan a good option for you, or is it a short-term loan because it needs to be repaid within a short period of time?
There are many types of loans and solutions, but after talking with us, we’ll find the bank and the loan that are best for you.
The service we provide in obtaining quotes is both free and non-binding for you as a customer.
Building a cabin
There’s a lot to take care of when you’re getting started on a construction project.
Here are some questions you should ask yourself:
→ What will the monthly costs be, and can you afford it?
→ Be sure to prepare a detailed budget that includes loans, electricity, ground rent, property tax, insurance, TV/Wi-Fi, etc.
→ Could renting out part of the property be an option to cover some of the costs?
→ Would you prefer a modern or traditional cabin?
→ Architect-designed or prefab cabin?
→ What has the municipality included in the zoning plan, and could that limit the possibilities you envision?
Where would you like a cabin?
Are you looking for a cabin by the lake or a place with a fireplace and rugged mountain scenery? We can help you find the right loan for your cabin or vacation home. How much does it cost to build a cabin? What should you consider before you start the process? Our advisors will ensure you get the best possible solution for your new cabin loan.
If you can provide real estate in Norway as collateral for the entire amount, you can also take out a loan for a vacation home abroad.
Terms and Conditions for Cabin Loans
- Total debt should not exceed five times total annual gross income.
- Loans may be granted for up to 60% of the home’s value or purchase price
- With additional collateral in the form of other real estate (e.g., a home), you can borrow up to 100% of the purchase price
Vacation Home Loan Calculator
Totalbeløp
Kostnad
Etableringsgebyr
Termingebyr
Effektiv rente
This is how we help you:
Fill in the application form
It only takes a few minutes and is completely
free and non-binding for you.
We talk to the banks
Your advisor will talk to our partners and find the
best solution for you.
Receive a non-binding offer
Once we've landed the solution we
most believe in, we'll contact you for a
no-obligation quote.
Benefits of Owning a Cabin
Benefits of Renting a Cabin
- You have access to the cabin whenever you want
- You can decorate however you like
- You can create wonderful memories for your family and future generations
- You can increase your income by renting out your cabin
- If the market goes up, you’ll be able to make a good chunk of money from the increase in value when you sell
- You can explore many different destinations without feeling like you “have to” use your own cabin
- You won’t increase your debt or tie up your finances
- You won’t see any increase in fixed costs
- You won’t have to worry about maintaining multiple properties
- You can avoid a decline in value and losses on your cabin if the real estate market drops
We can help you get a loan for a cabin
Owning a cabin is about much more than just the costs. It’s about quality time with friends and family, the memories you create together, and the peace and quiet you often find the moment you walk through the cabin door.
- Børge Finsæther, Eiendomsfinans Harstad
Free and fast case management
With us, you will be assigned a dedicated advisor who will help you every step of the way. After
a pleasant conversation with you, we map out your financial situation.