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Can I Afford This Apartment?

Use the Swedish KALP model to estimate whether a bank would likely approve your mortgage.

Household

2
0
45 000 kr

Property & Loan

3 500 000 kr
15%
7.00%
300 000 kr

Housing Costs

4 200 kr
0 kr

KALP Result

21 382 kr/month

Likely approved

Monthly Breakdown

Net income (2 adults x 30 600 kr)61 200 kr
Stressed interest (7% on 2 975 000 kr)−12 960 kr

Gross: 17 354 kr − Tax deduction: 4 394 kr

Amortization (2%, LTV 85%)−4 958 kr
BRF fee−4 200 kr
Living expenses (2 adults)−17 700 kr
KALP (remaining)21 382 kr

Loan Summary

Property price3 500 000 kr
Down payment525 000 kr (15%)
Your savings300 000 kr
Loan amount2 975 000 kr
LTV85%
Amortization requirement2%

You are missing 225 000 kr for the required down payment.

Here is roughly how long it would take to save the gap at different monthly savings rates:

Save 5 000 kr / month

45 months

≈ 4 years

Save 10 000 kr / month

23 months

≈ 1.9 year

Save 15 000 kr / month

15 months

≈ 1.3 year

What is KALP? KALP (Kvar Att Leva På) is the standard model Swedish banks use to decide if you can afford a mortgage. It checks that your household has enough left after all housing costs and living expenses.

Banks stress-test at a higher interest rate (typically 7%) even if the current rate is lower, to make sure you can handle rate increases.

Income tax is simplified to 32% (kommunalskatt). Actual rates vary by municipality (29-35%). Living expenses from Konsumentverket (2025).

How buying a bostadsrätt works in Sweden

1

Get a loan promise (lånelöfte)

Contact your bank to get pre-approved. This tells you how much you can borrow.

2

Find a property & attend viewings

Search listings, attend open houses, and review BRF annual reports.

3

Place a bid

Submit your bid through the broker. Bidding in Sweden is not legally binding until the contract is signed.

4

Sign the purchase contract (köpekontrakt)

Once your bid is accepted, you sign the contract and pay a deposit (typically 10%).

5

Loan approval & final paperwork

Your bank finalizes the mortgage. The BRF board approves you as a member.

6

Move in (tillträde)

Keys are handed over, and the remaining purchase price is paid via your bank.

Frequently asked questions

What is KALP?
KALP (Kvar Att Leva På, 'left to live on') is the affordability model Swedish banks use to decide whether to approve a mortgage. The bank adds up your net income, subtracts the stressed mortgage cost, BRF fee, operating costs, and standard household living expenses, and checks that what is left is enough to cover everyday life. A positive KALP with a comfortable margin is normally required before a loan is granted.
How much income do I need for a mortgage in Sweden?
There is no single legal income floor. Banks work backwards from KALP: your gross income, after tax, must be enough to cover the stress-tested mortgage cost, the BRF fee, other housing costs, and Konsumentverket's standard living expenses for your household — and still leave a buffer. As a rough guide, banks often look at a total debt-to-income ratio around 4.5–5.5x gross annual household income (Finansinspektionen's recommended cap on lending is 5.5x), but the binding test is KALP and your individual budget.
How do Swedish banks stress-test mortgages?
Banks calculate KALP using a stressed interest rate that is higher than today's market rate, to make sure you can still afford the loan if rates rise. Industry practice is around 6–7% (Finansinspektionen has previously highlighted ~7% as a reasonable assumption). On top of that, mortgages above 50% loan-to-value require mandatory amortization (1% per year between 50–70% LTV, 2% above 70% LTV), and the down payment must be at least 15% of the purchase price.

Considering buying an apartment?

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