Authored by the expert who managed and guided the team behind the Norway Property Pack
Everything you need to know before buying real estate is included in our Norway Property Pack
Yes, foreigners can get mortgages in Norway in 2026, but approval depends more on your ties to the country than on your passport.
Banks focus on three things: having a Norwegian ID number, showing stable income (preferably Norwegian), and meeting strict lending rules on how much you can borrow.
We constantly update this blog post to reflect the latest rules, rates, and market conditions in Norway.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Norway.
Can foreigners get a mortgage in Norway right now?
Can a foreigner get a residential mortgage in Norway right now?
Yes, foreign citizens can get residential mortgages in Norway in early 2026, though approval is much easier if you have Norwegian income and a local ID number than if you're applying from abroad with foreign earnings only.
Foreigners who already live in Norway with a stable job and a national identity number or D-number typically have the smoothest path to mortgage approval, while non-residents with only foreign income face stricter requirements.
The most common condition Norwegian banks impose on foreign applicants is requiring a larger down payment, often 25% to 40% instead of the 10% minimum that applies to residents with local income, because banks see foreign-only income as higher risk.
By the way, we have a whole document dedicated to mortgages for foreigners in our property pack about Norway.
Can I get a mortgage in Norway without residency?
Non-resident mortgages do exist in Norway, but they are the exception rather than the rule because banks must verify you can repay the loan and prefer borrowers with local stability.
In practice, permanent residents with Norwegian income have the easiest access, followed by temporary residents or work visa holders with Norwegian employment contracts, and finally non-residents who face the toughest requirements.
If you don't have permanent residency in Norway, banks typically require a higher down payment (often 25% to 40%), stronger documentation of your income and assets, and sometimes additional security like a guarantor or extra collateral.
By the way, we've written a blog article detailing residency and citizenship options that exist when you buy property in Norway.
Do banks require a local work contract in Norway right now?
Many Norwegian banks do require a local work contract for mortgage approval, not because the law demands it, but because it's the easiest way for them to verify your income and run their required affordability tests.
If you don't have a Norwegian employment contract, banks may still consider your application if you can provide strong alternatives like verified foreign income statements, tax returns, and proof of substantial savings or assets.
When a local work contract is present, Norwegian banks usually want to see at least a few months of employment history, though a permanent contract or one with clear long-term prospects will always strengthen your case.
Can self-employed foreigners qualify for a mortgage in Norway?
Yes, self-employed foreigners can qualify for mortgages in Norway, but the process is harder because banks must verify that your income is stable enough to pass the mandatory affordability stress test.
Norwegian banks typically want to see 2 to 3 years of consistent accounting records and tax returns from self-employed applicants, along with a clear separation between business and personal finances.
Is foreign income accepted for mortgages in Norway right now?
Some Norwegian banks do accept foreign income for mortgage applications, but it's highly case-by-case because they need to verify the income, manage currency risk, and ensure you can still afford payments if exchange rates move against you.
When your income comes from abroad, banks typically require extra documentation like certified tax returns, employment contracts translated into Norwegian or English, bank statements showing regular salary deposits, and sometimes proof of how the funds will be converted to Norwegian kroner.
Can I buy a primary home (and an investment property?) with a mortgage in Norway as a foreigner?
Buying a primary home with a mortgage in Norway is the most realistic option for foreigners because banks view it as essential spending and lower risk, especially if you plan to live in Norway and can show a stable local setup.
Getting a mortgage for an investment property in Norway is possible but harder, as banks see it as discretionary spending with higher risk, so they often require a larger down payment and stricter documentation even when the law technically allows up to 90% financing.
If you're buying for investment, you might want to check our blog article about buying and renting out in Norway.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Norway versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What are the eligibility rules banks actually use in Norway?
What minimum monthly income do I need in Norway as of 2026?
As of early 2026, there's no fixed minimum income for a mortgage in Norway because approval depends on the loan amount you need, your existing debts, and whether you pass the bank's stress test, but a rough guide is that your total debt cannot exceed 5 times your gross annual income.
In practice, most approved borrowers in Norway earn at least NOK 500,000 to 700,000 per year (around USD 45,000 to 65,000 or EUR 42,000 to 60,000), though you'll need more if you're buying in expensive areas like Oslo or if you have other debts.
The income requirement scales directly with the property price: if you want a NOK 4 million mortgage, you typically need around NOK 800,000 gross annual income, and for NOK 5 million you'd need about NOK 1 million per year to meet the debt-to-income cap.
Norwegian banks do allow combining household incomes from multiple applicants, so couples or co-buyers can pool their earnings to meet the minimum threshold and qualify for a larger loan together.
What debt-to-income limit do banks use in Norway right now?
Norwegian banks must follow a strict rule that your total debt cannot exceed 5 times your gross annual income, and this is a binding regulation, not just a guideline.
When calculating your debt-to-income ratio, banks in Norway include all your existing debts: student loans, car loans, credit card balances, consumer loans, and any other mortgages you already have.
Do I need a local credit score in Norway right now?
Norway doesn't use a single credit score system like the US, so banks focus instead on verifying your income, checking your existing debts, and reviewing your payment history where they can see it.
A foreign credit report can serve as helpful supporting documentation, but it won't replace what Norwegian banks need to verify locally, so the key is getting properly set up in the Norwegian system with an ID number, bank account, and clean account conduct.
Do banks require a local guarantor in Norway right now?
A local guarantor is not required as a blanket rule in Norway, but offering one is one of the most common ways to get approved when you're short on equity or don't fully meet the standard requirements.
Banks are most likely to request a guarantor when you can't provide the full down payment, when your income documentation is complex, or when you're a non-resident with limited ties to Norway.
If a guarantor is needed, Norwegian banks typically want someone who can pledge their own property as security (called "realkausjon") or who has strong income and assets themselves to back your loan.
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How much cash do I need upfront in Norway as of 2026?
What's the minimum down payment in Norway right now?
The official minimum down payment in Norway is 10% as of January 2026, meaning banks can lend up to 90% of the property value, though foreigners without Norwegian income often need to put down 25% to 40% in practice.
Across different banks and buyer profiles in Norway, the realistic down payment range for foreign buyers is 15% to 40%, with residents who have local income closer to the 10% to 15% end and non-residents typically at 25% or higher.
You might secure a lower down payment if you have a strong Norwegian income history, an existing relationship with the bank, a guarantor who can pledge their property, or if you're buying through the bank's "flexibility quota" that allows some exceptions to standard rules.
What loan terms can I realistically get in Norway as of 2026?
What mortgage interest rates are typical in Norway as of 2026?
As of early 2026, mortgage interest rates for qualified borrowers in Norway typically range from about 4.6% to 5.5%, with floating-rate loans around 5% to 5.3% and fixed-rate options often slightly lower at 4.6% to 5.2%.
The factors that most influence your interest rate in Norway include your loan-to-value ratio, whether you choose a floating or fixed rate, your overall risk profile, and how much you negotiate with the bank.
Foreigners in Norway may receive rates at the higher end of these ranges, typically 0.25% to 0.5% more than local residents with the same loan amount, because banks view them as slightly higher risk due to less established local financial history.
The interest rate is one of the factors we look at when assessing whether now is a good time to buy a property in Norway.
Are fixed-rate mortgages available in Norway right now?
Yes, fixed-rate mortgages are available to foreigners in Norway, and they are tracked separately in official statistics, though floating-rate loans remain more common in the Norwegian market.
Norwegian banks typically offer fixed-rate periods of 3, 5, or 10 years, with some lenders providing longer options, and choosing a fixed rate can help your application by showing the bank you're less exposed to interest rate increases.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Norway. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
How do I maximize approval chances in Norway right now?
What financial profile gets "yes" fastest in Norway right now?
The ideal financial profile for fast mortgage approval in Norway in early 2026 is someone with a Norwegian ID number, stable local income, low existing debt, and more equity than the minimum required.
Banks in Norway consider ideal applicants to have annual income of at least NOK 600,000 to 800,000 (around USD 55,000 to 75,000 or EUR 51,000 to 68,000) with a debt-to-income ratio comfortably under the 5x maximum.
Permanent employment with a Norwegian company is most favored, especially if you've held the job for at least 6 to 12 months, though long-term contracts and stable self-employment with 2 to 3 years of records can also work.
A down payment of 15% to 25% or more signals a strong applicant profile in Norway, even though the legal minimum is only 10%, because it gives the bank more cushion and shows you have financial discipline.
We give more detailed tips in our pack covering the property buying process in Norway.
What mistakes make foreigners get rejected in Norway right now?
The most common mistake that leads to mortgage rejection for foreigners in Norway is starting bank conversations after winning a bidding war, because the Norwegian market moves fast and you need a financing certificate or pre-approval before you compete for properties.
The financial red flag that most often disqualifies foreign applicants in Norway is trying to borrow at the maximum 90% loan-to-value with foreign-only income, because banks see this combination as too risky and will almost always require more equity from non-residents.
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Which banks say yes to foreigners in Norway right now?
Which banks are most foreigner-friendly in Norway as of 2026?
As of early 2026, the banks with the strongest track record for serving foreign mortgage applicants in Norway include DNB, Nordea, SpareBank 1, and Danske Bank, all of which have established processes for handling international documentation.
What makes these banks more foreigner-friendly is their willingness to evaluate foreign income documentation, accept international credit histories as supporting evidence, provide English-language service, and work through the extra complexity that comes with cross-border clients.
Which banks accept non-resident borrowers in Norway right now?
Some Norwegian banks do accept non-resident borrowers, including DNB, Nordea, and Danske Bank, but these cases are handled individually and typically require an existing relationship, very strong equity, or exceptionally clean documentation.
When lending to non-residents, these banks usually impose additional requirements like 25% to 40% down payment, more extensive proof of income and source of funds, and sometimes extra security like a Norwegian guarantor or pledged assets.
Do international banks lend more easily in Norway right now?
International banks generally do not lend more easily than local banks in Norway because Norwegian mortgages are tightly shaped by Norwegian lending regulations, and most international banks operating in Norway must follow the exact same rules on loan-to-value, debt-to-income, and stress tests.
A few international banks with a presence in Norway, like Danske Bank and Handelsbanken, do offer mortgages to foreigners, but they apply the same regulatory constraints as purely Norwegian lenders.
The main advantage of using an international bank in Norway is familiarity if you already have a relationship with that bank in another country, which can sometimes make documentation and communication smoother, but it won't change the fundamental lending rules you must meet.
We made this infographic to show you how property prices in Norway compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Norway, we always rely on the strongest methodology we can, and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Norwegian Ministry of Finance | The government body that sets binding mortgage lending rules. | We used it to confirm the official 10% minimum equity rule. We also used it to date the regulation change correctly as of January 2026. |
| Lovdata (Official Legal Text) | Norway's official database for consolidated law and regulation text. | We used it to verify the hard rules on LTV, DTI, and stress tests. We relied on the actual law rather than bank interpretations. |
| Finanstilsynet (Financial Supervisory Authority) | Norway's financial regulator that monitors how banks actually lend. | We used it to explain the flexibility quota banks can use. We also used it to give practical approval strategy tips. |
| Statistics Norway (SSB) | Norway's national statistics office with official interest rate data. | We used it to estimate realistic mortgage rates in early 2026. We also used it to separate floating vs fixed-rate pricing. |
| Norges Bank | Norway's central bank that sets the policy rate affecting mortgages. | We used it to explain why mortgage rates sit where they do. We also used it to frame rate expectations without guessing. |
| Skatteetaten (Norwegian Tax Administration) | The authority responsible for Norwegian ID numbers used by banks. | We used it to explain which ID you need to work with banks. We used it to outline how foreigners unlock practical steps. |
| Kartverket (Norwegian Mapping Authority) | Runs the Land Register and handles property registration. | We used it to explain how non-residents can register as owners. We described timing and documentation in the ownership step. |
| Skatteetaten (Stamp Duty) | Official source for Norway's property transfer tax rate. | We used it to quantify the 2.5% stamp duty. We highlighted freehold vs co-op implications for taxes. |
| DNB | Norway's largest bank with guidance reflecting mainstream practice. | We used it to cross-check practical equity requirements. We supported advice on guarantor structures banks actually use. |
| Nordea Norway | Major bank summarizing regulations in customer-friendly language. | We used it to verify mainstream lenders apply the same rules. We kept phrasing aligned with what advisors actually say. |
| UDI (Norwegian Directorate of Immigration) | Official immigration authority defining residency and D-numbers. | We used it to clarify residency vs non-residency distinctions. We set expectations that a D-number is not a residency right. |
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