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Housing benefit takes the form of monthly payments intended to assist those who rent residential premises, whether this is within the socially-assisted housing system, in student residences or on the open rental market. The Housing and Construction Authority handles the implementation of the Housing Benefit Act, No. 75/2016, and takes decisions regarding entitlement to housing benefit.

Húsnæðis- og mannvirkjastofnun

Mælaborð

Vefþjónustur

Mánaðarskýrsla HMS

Útgefið efni

Grunngögn til niðurhals

Vefsjár fasteigna

Gögn og mæliborð

Eignin mín

Lán til einstaklinga

Starfsleyfi og löggildingar

Húsnæðisbætur og leigumál

Rafmagnsöryggi

Umsóknir og eyðublöð

Ísland.is

Housing benefit & loans

Loan site

Öryggi mannvirkja

Um HMS

Upplýsingar

Fréttir og tilkynningar

Mælanleg gögn

Hafðu samband

The Housing and Construction Authority encourages borrowers to familiarize themselves with and compare different loan options before taking out a loan. Harmonized information on loan options and the development of the principal and payment burden can be accessed, for example, on the Consumer Agency's website.

Two loan combinations, for example according to the sales statements of two apartments.

Annuity loans and loans with uniform instalments.

New borrowing versus taking over a loan as well as taking on a new one.

Advantageous loans with low interest rates may be secured as liens on apartments that it may be sensible to acquire. For older loans, for example, you do not have to pay new borrowing fees.

When assessing the debt burden, it is important not to look only at the next 12 months, because some loans may be paid off before others. It is therefore better to compare the average payment over the entire credit period.

Attention is drawn to the fact that the calculations are estimates based on the criteria that have been selected and the conditions that are in force at any given time. The results are therefore only for reference and not binding for HMS. All calculations on the HMS website are published with a disclaimer of possible errors.

Further details

Calculator

Here you can compare loans and loan combinations. For example, you can calculate here whether it is better to take out one new loan or take out a new loan together with taking over one or more loans already secured with a lien or liens on the apartment.

Note that the loans or loan combinations being compared must be of the same amount so that the comparison is realistic.

HMS provides loans for the purchase of affordable apartments throughout the country.

Housing loans

Calculate the estimated monthly payments of a new loan at HMS based on the terms offered at any given time.

Calculators:

Part of the HMS loan application process is the preparation of a payment assessment. The payment estimate is filled out electronically, so you need to have an electronic ID with you.

Payment- and credit-assessment:

It is important to seek immediate help before defaults become significant.

Solutions for payment problems:

Here you can find information about other services that HMS provides in connection with loans to individuals.

Other services:

If you enter into an agreement for the payment of arrears, collection actions will stop, but the loans will bear late interest for the duration of the agreement.​

If it is agreed to postpone payments, convert defaults or extend the loan period, the terms of the loan will be changed. In order for the terms to be changed, the loan must not be in arrears, or it has been agreed to add the arrears to the principal so that late interest will no longer be calculated and the collection action will stop.​​

It is to your advantage to make moderate use of the deferred payment because the payment after the deferred payment is higher than the regular payment before the loan was deferred.​

If arrears are added to the principal, the loan amount will increase and the regular payment after the arrears have been added to the principal will also increase.​​

A loan extension is the only option that can result in a lower monthly payment, but with a loan extension, the loan period and the number of remaining due dates will increase, so that the total loan payments will increase. View the effect of the loan extension with the calculator Change in loan period.​

We have the calculator Compare loan options which will simplify your process of calculating all loan options available in the marketplace.​

If you plan to pay into a loan, it pays to do so on the due date of the loan after the due date payment has been paid, otherwise you will start paying part of the next month's payment.

The Housing and Construction Authority provides indexed and non-indexed loans to individuals for the purchase, construction and renovation of apartments throughout the country. At the same time, those who have reduced working capacity, are disabled or have reduced mobility can get an additional loan if there are additional costs due to special needs when buying, building or modifying housing.

HMS

HMS

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Calculator - Compare loan options

Calculator - Compare loan options

Here you can compare for example: