Equity loans
Income limits
Income limits for a 20% equity loan
You need to pass a credit assessment for a 75% loan with a maturity of 25 years (if the loan is non indexed the loan term may be longer). The monthly instalment may not exceed 40% of disposable income.
Total income last 12 months | |
|---|---|
Individual | ISK 9,465,000 |
Couples and cohabitants | ISK 13,221,000 |
For every child in the household, under the age of 20, the income limit increases by ISK 1,953,000.
Income limits for a 30% equity loan
You need to pass a credit assessment for a 65% loan with a maturity of 25 years (if the loan is non indexed the loan term may be longer). The ratio of an equity loan still depends on personal funds and payment ability, for example, if you have the payment ability to get a 75% loan, you will not receive more than a 20% equity loan.
Total income last 12 months | |
|---|---|
Individual | ISK 6,283,000 |
Couples and cohabitants | ISK 8,789,000 |
For every child in the household, under the age of 20, the income limit increases by ISK 1,953,000.
Service provider
Housing & Construction Authority