For first-time homebuyers
Your first home,step by step.
- Inflation
- 5.9%
- Pushes up the balance of indexed loans
- Target 2.5%
- Policy Rate
- 8%
- Largely sets the rates on non-indexed loans
By the numbers
The first-time buyer rules
Every calculation on the site is built on these numbers.
- Max Loan Ratio
- 90%
- For first-time buyers
- Max Payment Burden
- 40%
- Of disposable income
- Pension Savings
- 500thousand kr. a year
- Tax-free for 10 years
- Stamp Duty
- 0.4%
- Half rate for first-time buyers
The capital area
Every postcode, measured against your budget.
The map shows the typical price in each area, from real sales in the property register over the last three years, and colours it by whether it fits your budget.
Open the mapPro tip
Use your pension savings
First-time buyers can withdraw up to 500.000 ISK per year from pension savings tax-free for up to 10 years — or up to 5 million total.
- You must own at least 30%Registered ownership of at least 30% of the property is required.
- Apply as soon as the purchase agreement is registeredThe application needs the registered purchase agreement, so you can't apply before then. Processing usually takes 4–8 weeks. If séreign will also go into your loan, you'll need the loan number, which is on the loan document.
- Couples can double upIf both parties qualify, they can withdraw a combined 1 million per year.
Financing Example
- Purchase price
- 50.000.000 kr.
- Bank loan (85%)
- 42.500.000 kr.
- Down payment (15%)
- 7.500.000 kr.
- Pension savings
- −2.500.000 kr.
Own savings needed5.000.000 kr.
* Pension savings withdrawn over 5 years (500þ/year)