Housing mortgage for foreigners in Norway

Dear expats

I am currently preparing to move to Norway as I have accepted a job offer in Bergen in the oilfield services business. So all my paper work i.e. work visa and entry clearance has been granted. I have read lot of threads and gone through lot of web based material regarding life in Norway and I have built up this really nice picture in my mind that I hope it will materialise :). I have been an expatriate myself for few years now and this time I wanna settle down in Norway for long as I am fed up of moving from one country to another. Through this post I wanna know how easy (or difficult) to get a Housing mortgage/Loan in Norway to buy a property, providing I can afford at least 10% of the loan as a deposit?.

My new employer has agreed to provide housing for me for up to 6 months so I really dont wanna rent afterwards and pay someone's else mortgage if I can invest that money in my onw prperty (I have done it before for 5 years and I deeply regret it now). The only problem is how easy to get approved a Loan from a bank and can it be done within my first 6 months(my starting salary is in the region of 660000NOK + benfits)?
What banks have relatively easy procedures to get a loan? does it need to be with the bank I will first open an account with?

I really wanna buy a property and feel home rather than asking for the landlord's permission every time I wanna put a small screw in the wall :P

Your help will much much be appreciated


Welcome to Norway.

I went to the bank and inquired this, if you have work permit and a proper salary, you can get loan and buy some real estate.

Basically, u can get loan up to 3 times your yearly salary, but it's also case by case.

Good luck!

I can confirm JamineJasmine's post.
I recently came from the states and went to a bank and showed them my paycheck stubs with my employer contract and based on my salary they gave me a loan and we're currently looking for a house now.
3 times your salary is about right.
It may be adjusted if you're married and have kids or any other type of loans, such as car loans here in Norway. 
the process was very easy.
You will need a person number, your work visa/permit/ passport, bank account, paycheck stubs, and work contract.
Also, when you get your tax card, make sure that you fall under Tax table 7300 which is typically for foreigners.  This will allow you the standard deduction of up to 40K kroners and you'll get more in your pocket every paycheck.  You can only do this for the first two years.
Should you get a loan on a house and you'll want to write off the interest, you cannot take advantage of the foreign taxworker standard deduction.

I have known that the DNB gave you 75% of house price, but here the house are too expensive (3 to 4 million), do you think as a newcomer government will help you to buy house by lending you more loan?


For Abder84: yes you will be able to buy as the other posters have confirmed. These days however, you may need to give more than 10% as your cash contribution to the purchase. The real estate market is considered being in a bubble by some here and the banks become more careful. It could be they ask you to provide in cash up to 25% of the sum.

For Mitramor: there is very little state support in that area and nothing for newcomer. Kommune (communities) may provide a loan for your first apartment purchase but the process is rather cumbersome and long.

Thanks for your answer. You are right now you have to pay 25% first which is too much. Even a 60-70 m2 flat is about 3 million in Bergen!
SO I do need help for the first buy! I hope I get some help :)