Mortgage in Sweden: Calculator, Bolån & How It Works
Buying a home in Sweden means understanding the mortgage (bolån) system: how much you can borrow, the down payment you need, and the amortization rules (amorteringskrav). Use the calculator below to estimate your costs, then read on for how Swedish mortgages work and how to get one as an expat.
Be aware that borrowing money costs money.
Calculate your Swedish mortgage
Enter your figures to estimate your monthly repayments.
If a lender’s site is in Swedish, right-click anywhere on the page (Google Chrome only) and choose “Translate to English”.
Mortgage providers in Sweden
These providers are used by expats and locals; always check current rates and terms on their own site.
- Hypoteket – a fully digital mortgage challenger that competes with the big banks on lower, negotiated rates and a smooth process. It handles the switch for you, and has strong Trustpilot ratings.
- Lånekoll – a comparison service that gathers mortgage offers from several lenders in one application, so you can compare rates easily.
- Svea – a Swedish bank offering mortgages and other lending products.
How mortgages (bolån) work in Sweden
A bolån is a loan secured against your home. The key rules:
- You can borrow up to 85% of the property value (the bolånetak), so you need at least a 15% down payment (kontantinsats) from your own savings.
- Lenders generally cap the loan at around 4.5 times your gross annual income.
- You can choose a fixed or variable interest rate, and rates are often negotiable, so it pays to compare and haggle.
- About 30% of your mortgage interest is tax-deductible (ränteavdrag), which lowers the real cost.
Amorteringskrav: the amortization requirement
Sweden requires you to pay down (amortise) your mortgage each year, depending on how big it is relative to the property value and your income:
- Loan above 70% of the property value – repay 2% a year.
- Loan between 50% and 70% – repay 1% a year.
- Loan below 50% – no amortization required.
- An extra 1% a year applies if your total mortgage is more than 4.5 times your gross annual income.
Getting a mortgage as an expat
To get a bolån you generally need a personnummer, a stable income and usually some Swedish credit history, so it can be harder in your first year. Comparing lenders (or using a service like Lånekoll) and negotiating helps you get a better rate. Set up your bank account first, and if you need other financing see our guide to loans in Sweden.
The costs of owning a home
Budget for four things: your mortgage interest, the amortization (see above), the monthly housing association fee (avgift) if you buy an apartment (bostadsrätt), and utilities such as heating, electricity and internet. Comparing lenders before you commit, and negotiating your rate, can save a lot over the life of the loan.
Frequently asked questions
Yes. You can normally deduct about 30% of your mortgage interest (ranteavdrag) from your tax, which lowers the real cost of borrowing.
Bolan is the Swedish word for a mortgage – a loan secured against your home, offered by banks and mortgage lenders.
Yes, but you generally need a personnummer, a stable income and usually some Swedish credit history. It is harder as a newcomer, so comparing lenders or using a mortgage broker helps.
You can borrow up to 85% of the property value (the bolanetak), so you need at least a 15% down payment (kontantinsats). Lenders also generally limit the loan to around 4.5 times your gross annual income.
Amorteringskrav is Sweden’s amortization requirement. If your loan is above 70% of the property value you repay 2% a year; between 50 and 70% it is 1% a year; below 50% there is no requirement. An extra 1% applies if the loan is more than 4.5 times your gross income.