Home equity credit line
A flexible form of mortgage. You will be granted a maximum limit,
, but will only pay interest on the part of the limit that you have used.
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.
What is a home equity credit line ?
Boligkreditt and Rammelån are the same thing. The product makes it easier to have access to extra money when the need arises. This is the most flexible mortgage you can have.
The bank can offer mortgages up to 60% of the value of your home. You decide when and how much you want to pay into the loan. Most banks require you to pay the interest cost on the mortgage/framework loan. Others have no claim on this. In practice, this does not matter, since you can still dispose freely within the loan limit. You can’t choose a fixed rate here. The reason why you cannot have a fixed interest rate on the home loan is that you must be able to deposit money and withdraw money as you wish.
Loan account and savings account in one
This also works like a savings account in that the borrower can use the available limit to deposit money.
Example: You have a budget of 1 million, but have only used 700,000 of this budget. Then you pay interest for a loan of 700,000. If you insert e.g. holiday pay of 50,000, you will reduce your debt to 650,000 and interest will be charged on this amount.
You can transfer the money back to your current account at any time.
Who can get a home equity credit line?
The bank can grant you a mortgage/framework loan when the loan is less than 60% of the value of the home. This means that the loan is for a maximum of 60% of the market value of your home.
The bank will also assess this from customer to customer as not everyone should perhaps have such great flexibility with their loan, but rather should have regular repayments.
What is a home equity credit line ?
Boligkreditt and Rammelån are the same thing.
The product makes it easier to have access to extra money when the need arises. This is the most flexible mortgage you can have.
The bank can offer a mortgage up to 60% of the value of your home. You decide when and how much you want to pay into the loan. Most banks require you to pay the interest cost on the mortgage/framework loan. Others have no claim on this. In practice, this doesn’t matter, as you can still spend freely within the loan limit.
You can’t choose a fixed rate here. The reason why you cannot have a fixed interest rate on the home loan is that you must be able to deposit money and withdraw money as you wish.
Pre-qualificationletter
Tip: The estate agent’s task will always be to secure the highest possible sales price for the seller. Remember, therefore, that it’s a good idea to keep your
financing certificate close to your chest so that the broker doesn’t know how much you are able to bid. Instead, ask the broker to call us to confirm the bid amount.
If you are house hunting, apply for a financing certificate for a mortgage. Then you are sure of how much you can bid in a bidding round. If you have proof of financing in place before the bidding round starts, you can also bid without reservations about financing,
, which can be an advantage in bidding rounds with many bidders.
Example of mortgage credit
You have a home with a value of 6,000,000.
You can then get a maximum of 3,600,000 in mortgage credit (60% of the value).
You already have a regular mortgage of 3,000,000.
The mortgage credit is then used to refinance the loan of 3,000,000, but you also have 600,000 in a loan account for future needs.
You do not pay interest on this 600,000 until you have transferred some of this money to a current account.
Then you also pay interest on the amount you transfer.
Loan calculator
Totalbeløp
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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.
We'll help you choose between a mortgage or interest-only mortgage
Through our partnerships with several banks and credit institutions,
we have extensive knowledge of the solutions and products available.
A mortgage is not always the best solution. Sometimes an installment facility is a more affordable and better choice. Contact us and we’ll explain more.
- Børge Finsæther, Eiendomsfinans Harstad
Free and quick case management
With us, you will be assigned a permanent advisor who will help you throughout. After
a pleasant conversation with you, we map your financial situation.
FAQ - Frequently asked questions about mortgage credit
What is the difference between a home equity credit line and a mortgage?
With a regular mortgage, you don’t have any extra money left in an account for future needs. If you don’t really need extra money, but only want to pay interest, a regular mortgage with interest-free repayments will be a cheaper alternative.
Mortgage credit vs frame loan or flexi loan
Dear child, many names. This also applies here. The products are similar, but the banks have different designations for the product. There will also be a difference from bank to bank in how flexible the loan is. Talk to us and we will find the right bank for you.
How long can you have a mortgage?
The most common is that the banks grant this loan for up to 10 years, but with the possibility of extension. They do this to be able to check that the customer can tolerate having this flexibility without increasing consumption to a greater extent.
What is the interest rate on home loans?
The interest rate on is usually slightly higher than on a normal mortgage. There is no point in having a home equity credit line if you don’t have a few hundred thousand extra in a flexible framework. Then an installment-free mortgage will be a better option.
What are the disadvantages of a home equity credit line ?
Your consumption can quickly increase more than it should because you have so much flexibility. Some do not pay down the loan and let the interest cost “eat” the free frame. This type of loan requires greater financial discipline.
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