Mortgage calculator
There are two options to settle the home mortgage: either according to amortization or stricter amortization There are two factors to take in consideration when you want to settle your home mortgage. 1-Mortgage ratio, which is the mortgage value divided by the property value. 2-The family gross income compared to their debt ratio. Using this calculator, you can find out whether if you will settle your home mortgage according to amortization or strict amortization, in addition to calculate the monthly installment excluding interest.
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Amortization in SEK
| Amortization per year | Amortization per month |
|---|---|
| 0 | 0 |
Starting from 1 June 2016, a new law has been approved, called home mortgage repayment requirements, which include all home mortgages taken after above mentioned date. The volume and percentage of the repayment is depending on the home mortgage outstanding compared to the property’s market value, thus divided into three segments. If the home mortgage outstanding is less than 50% of the property’s value, no payment is required. If the home mortgage outstanding is between 50% and 70% form the property’s value, an annual payment of 1% from the home mortgage outstanding is required. If the home mortgage outstanding is between 70% and 85% form the property’s value, an annual payment of 2% from the home mortgage outstanding is required. Noting that the home mortgage celling is set to be max 85% from the property’s value as per the Swedish law. Starting from 1 March 2018, Finansinspektionen has strictly propose amortization requirements called "Strict amortization requirements", which require an additional payment of 1% from home mortgage amount per annum if the applicants and co applicants’ total debts exceed 450% from the gross annual income. For more information about the home mortgage, please refer to Economyaat Academy.