Financing a Magnoolia Home
General information about financing a new-build home. Exact terms depend on the buyer's individual situation.
The information below is general and informational. It is not financial advice. For an accurate loan offer, contact your bank.
Financing terms depend on the buyer's individual situation, chosen bank and current loan offers. The information below is not financial advice. For an accurate loan offer, please contact your bank.
Home loan through Bigbank
Bigbank offers home loan options for purchasing new development. Terms depend on the applicant's profile.
This is not financial advice. Exact terms depend on the applicant's profile.
Opens in new tab. Bigbank is an independent financial institution.
What to consider when financing?
Buying a new-build typically requires a down payment. The exact percentage depends on the bank and buyer profile. Also account for additional costs: notary, state fee, insurance.
- Down payment requirement depends on the bank
- Bank costs (contract fee, valuation fees)
- Notary and state fee
- Home insurance
A mortgage is available for new-build homes at most Estonian banks. A stable income and satisfactory credit history are typically required to apply.
- Loan depends on income and credit history
- Some banks finance during construction
- Loan terms are clarified by your bank
- Advisable to check with several banks
New-build purchases typically involve staged payments. The exact payment schedule is fixed in the sales contract and linked to construction progress.
- Reservation deposit secures the home
- Instalments per the contract
- Final payment upon handover
- Exact scheme fixed in the contract
The reservation agreement fixes the home, price and payment schedule. It gives certainty to both parties. Diana will discuss the exact reservation terms.
- Reservation locks in the price
- Timeline linked to construction schedule
- Stage I: expected completion spring 2027
- Stage II: expected completion spring 2028
Questions about financing
Can I buy a Magnoolia home with a mortgage?
Yes, Magnoolia homes can be financed with a mortgage. Conditions depend on the buyer's individual situation and chosen bank.
How large a down payment is required?
The down payment requirement depends on the bank and buyer profile. Your bank will provide exact details.
When is the down payment due?
The payment schedule is fixed in the sales contract. Typically part of the payments are linked to construction progress.
Does the developer offer direct financing?
Ask Diana about direct financing options. Terms depend on a specific arrangement.
Questions about financing?
Diana will explain the payment schedule and terms for a specific home.
