Conditions for mortgage loans

1. Contribution payments must have been made for four of the last six months to the fund.
2. The borrower must present a summary of his/her liabilities at other credit institutions.
3. Loans are granted only against a mortgage. Existing mortgages, in addition to the fund's loan, may not exceed 65% of the property's assessed market value, as determined by a certified real estate agent or other specialist designated by the fund. The borrower pays the assessment cost.
4. The borrower must pay a registration fee (ISK 2,000) and stamp duty (1.5% of the loan). There is also a loan fee of 1%.