Friend loan
It is easier to enter the housing market if you buy with a friend. You double your income, get better debt-servicing capacity and more equity.
How much can we buy for?
The very first thing you should find out is how much you can buy a property for. To do this, you apply for a pre-qualification letter. With a pre-qualification letter, you are not locked into taking the home loan you apply for. It is only a confirmation of how much you can buy a property for.
A pre-qualification letter is important to have ready before you start going to property viewings and participating in bidding rounds. Then you know which properties you can go to viewings for, and are ready to submit a bid when the bidding round opens quite quickly after the property's last viewing is completed.
Five times total income and at least 10% equity
How much you can buy for is governed by Norwegian law. You can borrow a maximum of five times your total income, including all loans each of you has from before. In addition, you must have at least 10% of the property's purchase price in equity.
Price Example First Home Loan
Nominal floating interest rate from 4.99%, annual percentage rate of charge (APRC) from 5.18%. Annuity loan NOK 2 000 000 o/25 years with monthly payment NOK 11 745. The total amount payable would be NOK 3 526 690 made up of the loan amount plus interest of NOK 1 526 690.
Draw up a co-ownership agreement
Buying a home together with a friend can be a major decision. To ensure that everything goes smoothly, we recommend that you draw up a co-ownership agreement. Don't worry, it doesn't have to create a bad atmosphere. On the contrary, it can help you avoid misunderstandings and disagreements in the future.
Together with the law firm Ally, we have created a co-ownership agreement specifically for friends buying a home together. In addition, you will receive a free advisory consultation and a test that helps you assess whether you are a good match as home buyers.
Advisers for young home buyers
Unsure what is required to get a mortgage? Have a chat with one of our advisers for young home buyers.
Tips for buying a home with a friend
You may have some questions about buying a home with a friend. We have thought about this.
It is wise to have an exit strategy and a plan for shared finances
Have a plan for selling – a so-called exit strategy. Friends who buy a home together usually have a limited time horizon for their cohabitation. Therefore, it is particularly important to have clear agreements for purchase, use and sale.
When it comes to finances, the simplest approach is to split the home loan and share expenses such as electricity, insurance, joint debt, renovation costs and unforeseen expenses.
Remember that owning your own home also brings unforeseen expenses. You should set aside a buffer for unexpected costs (and we are not talking about surprise parties). It may be wise to think through which insurance policies you need and, for example, set up a joint expense account.
Find the home loan that suits you
Mortgage Ung (Young Adults)
Loan for young adults
First home loan
First home loan is a mortgage for when you buy a home for the first time.
Pre-qualification letter
Be ready for the bidding round
Fixed-rate loan
Loan with predictable loan costs
Home equity credit line (HELOC)
Flexible mortgage
Green mortgage
Loan for energy-efficient homes
Combination loan
Flexibility and predictability in one
Bridging loan
Loan for a new home before you sell your old one
Transfer your home loan to DNB
Send us a simple application in just a few minutes.
Cabin mortgage
Loan for a cabin in Norway
Green loan
Energy-saving measures for your home
SAGA mortgage
Mortgage for SAGA customers
Mortgage abroad
We offer loans for property in Spain and France
Construction loan
Loan that covers ongoing costs during the construction period