Monthly payment, true cost (effective rate (effektiv ränta)), fixed or variable rate risk and how much you can afford, with the rules that apply in Sweden.
Quick answerIn Sweden, a mortgage of 2,000,000 SEK over 40 years at 2.8% costs about 6,931.10 SEK per month. You pay 1,326,926 SEK in interest over the term. Always compare offers by the effective rate (effektiv ränta), not only by the interest rate.
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PrincipalInterestFees
If the interest rate rises
Repayment by year
Popular questions
How much will my monthly loan payment be in Sweden?
For a mortgage of 2,000,000 SEK over 40 years at 2.8%, the monthly payment is about 6,931.10 SEK. Change the amount, term and rate in the calculator above to see your own payment.
What is the effective rate (effektiv ränta) and why is it higher than the interest rate?
The effective rate (effektiv ränta) includes fees and required costs on top of interest. In our example with typical fees the effective rate (effektiv ränta) is 2.84% while the nominal rate is 2.8%. Compare loans by the effective rate (effektiv ränta) and by the total amount you repay.
Fixed or variable rate: which is better in Sweden?
Variable Swedish mortgages are reset every 3 months and follow STIBOR, which moves with the Riksbank policy rate of 1.75%. Fixed periods of 1 to 10 years are available, usually at a small premium. If rates rose by 2 points, the payment in our example would go up to 9,380.53 SEK. A fixed rate protects you from that risk, a variable rate can be cheaper when rates fall.
How much can I borrow in Sweden?
Swedish banks test whether you can pay at a stressed rate of around 6% to 7% and still have money left for living costs. You can borrow up to 90% of the home value and must amortise 1% to 2% a year depending on the loan to value. Enter your gross income to check your ratio.
Loans in Sweden right now
Most Swedish mortgages have a variable rate with a 3 month fixed period that follows STIBOR. Terms are long, often 40 to 50 years, but the amortisation rules decide how fast you repay. Banks must show the effective rate (effektiv ränta), which includes fees. From 1 April 2026 you can borrow up to 90% of the home value.
Variable (3 month) mortgages cost about 2.73% on average in 2026. The Riksbank policy rate is 1.75%.
Mortgage cap (bolånetak): up to 90% of the home value from 1 April 2026, previously 85%.
Amortisation: 2% a year above 70% LTV, 1% between 50% and 70%. The extra 1% for loans above 4.5 times gross income was removed in 2026.
Early repayment is free on variable loans. On fixed loans the bank may charge an interest differential compensation.
Understand your loan before you sign
1
What the effective rate (effektiv ränta) tells you
The nominal interest rate only covers interest. The effective rate (effektiv ränta) adds the fees and costs you must pay to get the loan, such as processing fees, account fees and required insurance, and turns everything into one yearly percentage. Two loans with the same interest rate can have very different effective rate (effektiv ränta). When you compare offers for the same amount and term, the lower effective rate (effektiv ränta) is usually the cheaper loan.
2
Fixed or variable rate
A fixed rate keeps your payment the same for an agreed period, so you know exactly what you pay. A variable rate is a reference rate (for example Euribor) plus the bank's margin. It is often lower at the start, but your payment rises when the reference rate rises. Use the stress test above to see your payment if rates go up by 1, 2 or 3 points, and only choose variable if you could still pay that.
3
Equal payments or equal principal
With equal payments (annuity) the monthly amount stays the same, and at the start most of it is interest. With equal principal the first payments are higher but fall every month, and you pay less interest in total. Switch the repayment option in the calculator to see the difference.
4
The full cost of borrowing
Look beyond the monthly payment. Add up interest, upfront fees, monthly account and insurance costs, valuation and notary costs. A longer term lowers the payment but increases the total interest a lot. The line "cost per 100 borrowed" shows how much you pay for every 100 you borrow.
5
Early repayment
Paying off part of the loan early saves interest. Many countries limit what banks may charge for it, and variable-rate loans can often be repaid without a fee. Read the early repayment clause before you sign.
Checklist before you sign
Compare at least three offers for the same amount and term.
Compare the effective rate (effektiv ränta) and the total amount to repay, not only the interest rate.
Check what happens to a variable rate if the reference rate rises by 2 to 3 points.
Keep your monthly payments well below the affordability limit and keep savings for emergencies.
Ask which insurance is mandatory and how much it costs.
Read the early repayment terms and any fees for changing the loan.
Example payments
Typical mortgage at today's average rate, equal monthly payments, without fees. Interest rate: 2.8%.
Amount
Term (years)
Monthly payment
Total interest
1,500,000 SEK
40
5,198.32 SEK
995,194 SEK
2,000,000 SEK
40
6,931.10 SEK
1,326,926 SEK
3,000,000 SEK
50
9,296.14 SEK
2,577,685 SEK
Frequently asked questions
Can I repay my loan early in Sweden?
Variable-rate loans can be repaid at any time without a fee. For fixed-rate loans the bank may charge an interest differential compensation (ränteskillnadsersättning) if rates have fallen since you fixed.
What interest rates are typical in Sweden right now?
In October 2026 Swedish variable mortgages cost about 2.73% on average, and 3 to 5 year fixed rates are about 3%. Personal loans usually have an effective rate of 7% to 12%.
Is this an official loan offer?
No. It is an educational calculator. Your bank sets the final rate and costs. Use the results to understand and compare offers, and ask for the official pre-contract information before signing.
Sources and disclaimer
This page is educational. Rates are examples based on central bank statistics and published offers in October 2026, and your bank will price your loan individually. Always compare the official offer document (ESIS or standard information form) before you sign.