# Buying a Home in Norway for Immigrants: Equity, Bids and Loans

Buying a home in Norway? You need at least 10 percent equity, loans of no more than five times your income, and a bid is binding. Here's how bidding rounds, property reports, stamp duty and takeover work.

Canonical: https://samfunnprep.no/en/articles/boligkjop-norge-innvandrere
Language: en
Publisher: SamfunnPrep
Author: Hlib Suslov
Published: 2026-06-24T15:54:25.61+00:00
Modified: 2026-10-12T21:06:10.265913+00:00
AI use policy: https://samfunnprep.no/ai-policy.txt

## Key takeaways

- At least 10 percent equity You generally need at least 10 percent equity (lowered from 15 percent from 31 December 2024), and your total loans cannot exceed five times your income.
- A bid is binding When the seller accepts your bid within the acceptance deadline, the contract is legally binding – never bid more than your finances can afford.
- Remember stamp duty Budget for 2.5 percent stamp duty of the purchase price on owner-occupied properties, plus registration fee. Housing cooperative apartments are exempt from the tax.

To buy a home in Norway, you generally need at least 10 percent equity, and your total loans cannot exceed five times your income. A bid is binding as soon as the seller accepts it. Since 2022, the property report gives you better protection against hidden defects.

Buying your first home in Norway can seem overwhelming, especially as a newcomer. This guide explains the requirements for **equity** and loans, how a **bidding round** works, what a **property report** means, which fees you must pay, and the process step by step. If you want to understand the price level and how quickly housing prices change, you can find figures in the overview of [the housing market in Norway](https://samfunnprep.no/en/articles/boligmarked-statistikk-norge). The figures below apply as of 8 July 2026 and are based on the Financial Supervisory Authority, the Mapping Authority and Norwegian law.

## How much equity do you need to buy a home?

You generally need at least **10 percent equity**. The rules for housing loans are in the **lending regulations**, which the Ministry of Finance and the **Financial Supervisory Authority** (the state's oversight of banks) are responsible for. The main requirements are:

- **Equity: at least 10 percent.** You normally have to provide at least 10 percent of the purchase price yourself, so that the loan does not exceed 90 percent of the property's value. The requirement was **lowered from 15 to 10 percent effective from 31 December 2024**, so remember that if you are reading older advice.
- **Maximum loan: five times your income.** Your total debt generally cannot exceed **five times** gross annual income.
- **You must be able to tolerate higher interest rates.** The bank checks that you can afford the payments even if the interest rate rises by **3 percentage points**, and at least an interest rate of **7 percent**.
- **Repayment above 60 percent.** If the loan exceeds 60 percent of the property's value, you must pay principal repayments, not just interest.

The first practical step is to get a **financing certificate** from the bank. It tells you exactly how much you can buy for, and shows the seller that you are a serious buyer. Having your income, debt and savings in order makes the application easier – see how you build [personal finances in Norway](https://samfunnprep.no/en/articles/personlig-okonomi-norge) before you start.

## The bidding round: how does bidding work in Norway?

A **bid is binding**. If the seller accepts your bid within the deadline, you have entered into a legally binding contract – you cannot change your mind. The sale usually takes place through a **bidding round** managed by an estate agent.

Some rules protect you as a consumer:

- The agent **cannot** forward a bid with a shorter acceptance deadline than **12 noon on the first working day after the last advertised viewing**. Saturday does not count as a working day.
- You have the right to see the **bid log**, so you can see the other bids.

Never place a bid higher than your financing certificate and your own finances can afford. In cities with strong competition, the price can rise quickly above the asking price. A bidding round can be hectic, but your bid is a promise you must be able to keep.

## Property report and the Property Transfer Act: protection against hidden defects

If you are buying a **used home**, a **property report** (a thorough professional assessment of the property's condition) is essential. After the **Property Transfer Act** was amended on **1 January 2022**, the buyer has better protection:

- General **"sold as is"** clauses have **no effect** in normal consumer purchases.
- The seller completes a **self-declaration** and should provide an **authorized property report**. If an error is clearly stated in the report, you as buyer are deemed to know about it – so **read the report carefully** before you bid.
- You can generally only complain about defects exceeding a **deductible of 10,000 kroner**.

Always read the entire property report and sales particulars before the bidding round. If something is unclear, ask the agent in writing.

## Should you buy home buyer insurance?

A **home buyer insurance** covers legal assistance if you discover serious defects after purchase. The insurance is often offered through the agent and paid once, usually a few thousand kroner. It is voluntary. It gives you lawyer assistance to claim price reductions or compensation from the seller, but it does not improve the property itself. Consider it in light of the property's age and what the property report shows.

## Stamp duty, registration and other costs

In addition to your equity, you must pay **stamp duty of 2.5 percent** of the purchase price and a **registration fee**. Registration means your ownership is officially recorded with the **Mapping Authority**. Plan for these additional costs:

| Cost | Rate (as of 2026) | Note |
| --- | --- | --- |
| Stamp duty | 2.5% of purchase price | Only applies to owner-occupied properties (real estate) |
| Registration of deed | 545 kr | Registers you as owner |
| Registration of mortgage document | 545 kr | Per loan you take out |

An important exception: **housing cooperative apartments are exempt from stamp duty**, because a share in a housing cooperative is not considered real estate. On an expensive property, this can save you tens of thousands of kroner. The difference between ownership forms is worth understanding before you bid – read about [housing cooperatives or owner-occupation in Norway](https://samfunnprep.no/en/articles/borettslag-eller-selveier-norge).

## When the bank says no: starter loans and other options

If you cannot get a regular housing loan because you lack equity, there is a public option: **starter loan** from the municipality. It is not for everyone, but can help those in long-term financial difficulty access the housing market – read more in the guide on [starter loans from the municipality](https://samfunnprep.no/en/articles/startlan-kommune).

## Here is how the purchase process works step by step

In short, the purchase looks like this:

1. **Get a financing certificate** from the bank so you know your budget.
2. **Attend viewings** and read the sales particulars, the self-declaration and property report carefully.
3. **Place a bid** through the agent; remember that the bid is binding.
4. **Write a purchase contract** when the bid is accepted.
5. **Takeover:** you pay (via the bank), receive the keys and take over the property on the agreed date.
6. **Registration:** the agent ensures that the deed is registered with the Mapping Authority, so that you are recorded as owner.

If you are new to Norway, there may be a lot to keep track of at the same time. The checklist [First week in Norway](https://samfunnprep.no/en/verktoy/forste-uke) from SamfunnPrep helps you get a bank account, BankID and a registered address in place – things you need before you can buy a home.

## In short

- You generally need **at least 10 percent equity**, and your total loans cannot exceed **five times** your income.
- A **bid is binding** when the seller accepts it – never bid more than your finances can afford.
- Budget for **stamp duty of 2.5 percent** (exempt for housing cooperatives) plus a registration fee of 545 kroner.

Understanding the housing market, consumer rights and public schemes is part of the curriculum for the citizen knowledge test. Practice for free on **SamfunnPrep**.

## FAQ

### How much equity do I need to buy a home in Norway?

As a rule, at least 10 percent of the purchase price, so that the loan does not exceed 90 percent of the property's value. The requirement was lowered from 15 to 10 percent effective from 31 December 2024. In addition, your total debt cannot exceed five times gross annual income. Source: lending regulations / Financial Supervisory Authority.

### Is a bid binding in Norway?

Yes. If the seller accepts your bid within the acceptance deadline, you have entered into a legally binding contract and cannot change your mind. Therefore, never place a bid higher than your financing certificate and your own finances can afford.

### What is a property report and why is it important?

It is a thorough professional assessment of the property's condition. After the amendment to the Property Transfer Act on 1 January 2022, you as buyer are deemed to know defects that are clearly stated in the report, and general "sold as is" clauses have no effect. Read it carefully before you bid.

### How much is stamp duty on a home purchase?

Stamp duty is 2.5 percent of the purchase price and is paid to the Mapping Authority upon registration of an owner-occupied property. Housing cooperative apartments are exempt, because a share is not considered real estate. In addition, there is a registration fee of 545 kroner as of 2026.

### What does the 10,000 kroner deductible mean when buying a home?

Under the Property Transfer Act, you can generally only complain about defects in a used property that exceed 10,000 kroner. You must cover smaller defects yourself. The rule does not apply to new properties.

### What do I do if the bank does not give me a housing loan?

If you lack equity, you can look into a starter loan from the municipality, which is intended for those in long-term financial difficulty on the housing market. You can also continue renting while you save more equity.

## Sources

- [Utlånsforskriften – om regelverket](https://www.regjeringen.no/no/tema/okonomi-og-budsjett/finansmarkedene/utlansforskriften2/id3077676/)
- [Utlånsforskriften (forskrift om finansforetakenes utlånspraksis)](https://lovdata.no/dokument/SF/forskrift/2020-12-09-2648)
- [Avhendingslova](https://lovdata.no/dokument/NL/lov/1992-07-03-93)
- [Dokumentavgift ved overføring av fast eigedom](https://www.kartverket.no/eiendom/dokumentavgift-og-gebyr/dokumentavgift-ved-overforing-av-fast-eigedom)
- [Tinglysingsgebyr](https://www.kartverket.no/eiendom/dokumentavgift-og-gebyr/tinglysingsgebyr)

Citation: Hlib Suslov, "Buying a Home in Norway for Immigrants: Equity, Bids and Loans", SamfunnPrep, 2026-06-24T15:54:25.61+00:00, https://samfunnprep.no/en/articles/boligkjop-norge-innvandrere