How do I finance a property?
Own funds, loan, monthly payment and costs — build a financing plan before you start looking.
A property is one of the biggest purchases of your life. A financing plan tells you early how much you can spend — and keeps you from falling in love with something you cannot afford.
1. Your own funds
Banks usually finance only part of the price; the rest is your own contribution (down payment). The more you bring, the smaller the loan, the lower the interest and the better your chances of approval. Your own funds should also cover the purchase costs — transfer tax, notary and possibly an agency — which are usually not financed.
2. The monthly payment you can carry
Start from your household's monthly net income, subtract your living costs and existing loan payments, and keep a reserve for repairs and surprises. Banks also limit the share of income that may go into loan payments.
3. The loan
Housing loans in North Macedonia are offered in denars or in denars with a euro currency clause, usually for 10 to 30 years. Compare:
- Interest rate — fixed for the whole term, fixed for the first years, or variable.
- Effective interest rate (ефективна каматна стапка) — includes fees and is the right number to compare offers.
- Fees — processing, valuation, insurance, account fees.
- Early repayment — can you pay extra without a penalty?
4. Plan for the long run
Calculate your payment with a slightly higher interest rate than offered today, especially for variable rates. If the payment still fits, your plan is solid.
Last updated October 5, 2026