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Mortgage loan for home purchase, construction and repair

Mortgage loan for home purchase, construction and repair

  • Loan repayment schedule of up to 30 years
  • Possibility to defer principal payments, if necessary
  • Remote application and agreement signing, without the need to visit the bank

Use Home loan calculator to learn approximate amount of monthly loan payment.

You may sign the loan agreement and other loan related documents remotely - with qualified Smart-ID.

Amount of financing

Classical loan - up to 85% of the real estate market value

Loan with state pledge - up to 95% of the real estate market value

Loan with “keys back” option - up to 60% of the real estate market value

Financing for purchase, renovation, construction or improvement of a home. Your current home or one you will purchase will be used as a collateral. Who can apply for a state guarantee:
  • families with dependent children under the age of 23
  • young specialists with a higher or vocational education under the age of 35
“Keys back” option provides that if the customer can no longer fulfil the obligations, after the sale of the real estate (pledge of the loan), the customer will be released from the remaining obligations of the loan.

Each application for a loan will be evaluated individually.

Term for repayment of the loan

Up to 30 Years.

Monthly instalment of the loan

May not exceed 40% of your net income together with your other loan and leasing payments.

On the date specified by you, loan repayment takes place automatically from your current account in SEB bank.

Preconditions for receipt of a loan

Stable, regular and sufficient income for the performance of loan liabilities

Bank evaluates your declared income: salary, income from the economic activity, rent, etc.

Positive borrowing history

Prior to granting the loan, your previous financial liabilities will be evaluated. Positive borrowing history consists from prompt performance of liabilities.

Collateral on the loan

Bank evaluates the condition and market value of the property.

Required documents
For home purchase, repair or refurbishment
  • Identity documents
  • Income documents (if not received at SEB account)
  • Real estate valuation prepared by a certified appraiser
  • Evidence of your participation - a deposit or purchase agreement and proof of payment or an extract from the account/li>
  • In the case of repair or refurbishment, the description of the work to be carried out or an estimate
  • Other documents at the request of a bank specialist, if any
For housing construction
  • Identity documents
  • Income documents (if not received at SEB account)
  • Real estate valuation made by a certified appraiser
  • Your certificates of participation (invoices, checks, etc.), a deposit or purchase contract (in case of purchase of land or new building) and proof of payment or statement of account
  • Total construction cost estimate
  • Approved construction project
  • Valid construction permit
  • Other documents at the request of a bank specialist, if any
Early loan repayment Early repayment of the home loan is possible without additional fee.

Ten steps for receipt of the loan

1. Consultation


Apply for a free consultation about the home loan. During the consultation, we will discuss your needs in order to offer the most appropriate financial solution. Remember to bring your passport or ID card, when you come for a consultation.

2. Property evaluation

There are projects with real estate evaluation performed by a certified real estate valuer included in the offer, yet mostly it should be taken care of separately. You can also apply for a valuation by a certified real estate valuer at the SEB bank branch.

3. Loan application

Apply for loan via the internet bank or at the branch.

In addition, you will have to submit:

  • Property evaluation;
  • The printout of the bank account for the past 6 months (if your income is not transferred to the account with the SEB bank) and other documents supporting your income;
  • Other documents, if required, for evaluation of the specific transaction.

Upon your arrival at the branch, you and your co-borrower will have to present passports or ID cards.

The information you provide must be accurate and complete in order for us to be able to evaluate your ability to repay the loan and so that we could make a decision on granting of the loan.

4. Bank offer

Evaluate terms and conditions of the loan offered to you according to the goal and collateral specified in your application.

5. Loan agreement


Before signing of the loan agreement, the terms thereof are discussed with SEB bank specialist.

Sign the loan and pledge agreement with SEB bank. In order to reduce risks linked to home loan repayment, use loan payment insurance. You can open a business account to ensure a safe transaction of purchase and sale.

6. Purchase agreement with the seller of the property, and signature of request for corroboration at the notary

Sign the necessary documents at the notary who certifies documents to be submitted to the Land Register.

7. Registration of ownership rights/Mortgage in the Land Register


Submit your documents to the Land Register.

If the loan is prepared with the state pledge, attach the certification of granting of the state pledge to the documents submitted to the Land Register.

8. Real estate insurance


Take out an insurance policy for the pledged property in SEB bank.

You will be required to renew the insurance policy regularly as it needs to be valid throughout the loan repayment term. AS “SEB bank” shall be indicated therein as the recipient of the indemnity.

9. Loan disbursement


Wait for the message from your transaction manager regarding loan disbursement.

After the terms and conditions have been fulfilled, the bank shall disburse the amount specified in the loan agreement according to the terms and conditions of the agreement.

10. A new home!

A loan has been issued.

The amount of the monthly instalment

The sum of the monthly instalments depends on several factors:

  • The amount of the interest rate and fluctuations thereof - the lower the interest rate, the lower the monthly instalment;
  • Period of the loan — the longer the term, the lower the monthly instalment.

Schedules of loan repayment

Schedules of loan repayment


Annuity payments: during the validity term of the loan agreement payments of the principal sum and interest are separated into as equal payments as possible. Amount of the monthly instalment will be constant in the respective period of the interest rate change.

Linear payments: payment of the principal sum remains constant during the validity term of the loan, but interest is calculated from the unpaid part of the loan.

The interest rate of the loan

Variable interest rate will be applied to your loan, consisting of:

1) Base rate - variable part of the interest rate. You will be able to choose either a short-term or a long-term interest rate.

  • Short-term interest rate is determined for 3, 6, 12 months. It is usually lower than the long-term interest rate, but it fluctuates depending on the market situation (every 3, 6 or 12 months respectively), thus it will be more difficult for you to plan your expenses, but in the case of a favourable market situation you might be the winner.
  • Long-term interest rate is determined for a period of 2 to 5 years; usually it is higher than the variable rate, but remains constant for a longer period of time. Thus, you can reduce your risk, because the interest rate cannot change frequently.

Information on inter-bank rates (money value in the market)!

2) Margin rate - fixed part of the loan interest rate, and main criteria for the determination of the amount of the interest rate are:

  • Stability of income and the capacity to prove it;
  • Previous cooperation with SEB bank, performance of liabilities;
  • Total amount of liabilities;
  • Amount of the first instalment;
  • Collateral on the loan — market value of the property.

Related costs

One-off costs:

Bank-related expenses:

  • Commission fee for the processing of the loan (documents) in accordance with the SEB bank price list.

Non-bank-related expenses:

  • Real estate evaluation;
  • Notarial services (drawing up requests for corroboration in order to change the ownership rights and registration of mortgage, etc.);
  • State fees and stamp duties for registration of the ownership rights and mortgage in the Land Register.

Repeated costs:

  • Real estate insurance;
  • Loan payment insurance (if the service is used).



State guarantee for families with children

With a state guarantee financing can reach up to 95% of the real estate market value. Altum programme’s state guarantee is available for families with dependent children up to the age of 23 (inclusive).

Required documents





Support subsidy for large families

Free financial support for the purchase or construction of a house for families with three or more children and regular income.

Required documents





Required documents

  • a document with the reference on declared place of residence of the borrower;
  • a document certifying the borrower's education.

Loan payment insurance

In order to avoid unplanned financial losses and protect the relatives from taking over of loan liabilities in situations when unexpected difficulties with loan repayment arise, we offer loan payment insurance.

The monthly insurance payment, starting from 5 EUR, provides an opportunity to receive insurance indemnity in situations involving your involuntary unemployment or temporary disability, as well as allows you to save your property because the insurer will cover the loan balance in the event of your permanent disability or death.

Property insurance

For your convenience, we offer to insure your property at our partner If P&C Insurance AS Latvijas filiāle. To find out more about the insurance options and special offers, call +371 26668777.

Insuring your home results in you gaining security as well as an opportunity to avoid unexpected financial losses that might arise from theft, fire, a water-supply system accident or other accidents.

Please, make sure that the prepared property insurance policy meets the following criteria:

  • The sum insured of the real estate and equipment equals the restoration value or the actual value thereof, if the object is being depreciated;
  • Real estate has been insured, including the bearing structures and finishing;
  • Risks insured: fire, natural disasters, failures of engineering technical communications, theft and robbery, or coverage of all construction risks, if construction or reconstruction works take place in the object;
  • AS “SEB banka”, reg.No. 40003151743, is specified as recipient of Indemnity, receiving the insurance indemnity to the amount of outstanding loan liabilities upon occurrence of insurance event;
  • A deductible has been set at your choice; however, it may not exceed 10% of the sum insured of the pledged property.

Please send the renewed insurance policy to e-mail address or deliver it to any SEB bank branch by the expiry date of the current insurance policy.

Benefits of insuring property at If:

  • Compensation for damages caused by mild negligence, such as leaving a candle burning or leaving an iron on, without seeking formal reasons for refusal;
  • 0% deductible if a vandal breaks a window, a failed intrusion attempt has happened or a fire broke out and a smoke detector has been installed;
  • 24-hour assistance for customers;
  • Insurance indemnity is usually paid within 2 working days after receipt of the documents;
  • By choosing insurance of household objects, your belongings in the yard or on balcony will also be insured. For example, when a robber steals your gas grill, tires from a garage or wind damages your trampoline;
  • Theft of up to 5000 EUR from a bank card is compensated;
  • Your belongings will be insured even outside of your property, for example, when a bicycle is stolen from a stand.

Information about the distributor of insurance products (LAT)

  In force from In force to
Secured loan application
In force
Co-borrower’s/guarantor’s application
In force
Services Fees
Revision of the application Free of charge
Processing of the loan, increasing (% of the loan amount)1 up to 1,5%, min 75.00 EUR
Repayment of the loan before maturity Free of charge
Reserving resources (% of the unused amount of the granted loan) 0,5% per year
Other changes on the customer's initiative (% of the loan balance)1 0,9%, min 70.00 EUR
Changing of the loan repayment account1 15.00 EUR
Preparation, drawing up or approval of documents if the loan is refinanced to another credit institution 700.00 EUR
Preparation, drawing up or approval of documents if the pledged immovable property is being sold and if the transaction is financed by another credit institution 700.00 EUR
Uninsured collateral fee2 10.00 EUR per month

Additional services

Valuation of collateral By agreement
Preparation, processing and approval of bank's consent upon the customer’s request By agreement, min 70.00 EUR



1 The commission fee must be paid on the day the agreement or amendments are signed.

2 The fee is charged if the collateral is not insured for more than 30 days.


  • +371 26668777
    +371 67779988

    Block payment card and internet bank


    Other questions

    Private customers

    Mon - Fri 08.00 - 18.00

    Business customers

    Mon - Fri 08.30 - 18.00

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