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Teacher’s home loan

Setting up your own home is easy with a teacher’s home loan from Coop Pank. Whether you need money to buy an apartment, renovate, build a house or refinance an existing home loan, you will get what you need from us.

Special offer on home loans for teachers

  • Interest rates of 0% for the first year and 1.6% thereafter
  • Agreement fee €0
  • Our Rahn plan free of charge for one year
  • We cover up to €100 of your home insurance payments for the first year
  • In the event of refinancing, once the loan is issued we will reimburse the cost of expert valuation and the cost of mortgage transfer.

This offer is valid until 30 April 2024.

To get a quote, submit an application. Our loan manager will contact you after receiving your application and make you a personalised offer with discounts.

If you would like to consult our loan manager before submitting the application, contact us to make an appointment and we can discuss the relevant questions.

Loan calculator


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The calculation is approximate and may differ from the terms and conditions offered to you.

Building your own home

If you would like to apply for a construction loan, we recommend you read our advice on building a house.




Home loan refinancing

If you have a home loan with another bank, submit a home loan application for the outstanding balance to be refinanced and we will make you an offer.


MES co-loan

We accept a MES co-loan as self-financing to the extent of up to 50% of the total loan required.



Cooperation with KredEx

You can reduce the first down payment on your home loan with the KredEx guarantee. Read more on the KredEx website.


KredEx's rural home loan guarantee allows you to buy and renovate a home in the countryside. Read more on the KredEx website.

Further information

  • Borrower: one of the borrowers must be working in a kindergarten or general education school as a teacher, assistant teacher (teacher's aide, teacher's assistant), support specialist (psychologist, special needs pedagogue, social pedagogue, educational counsellor), head of education (head of subject area, head of development) or director of an educational establishment.
  • Loan amount – from EUR 7500.
  • Repayment term – up to 30 years.
  • Interest rate from 1.69% + 6-month EURIBOR on outstanding loan per year. Special offer for applications submitted until 31.05.2024: interest rate for the first year – 0% + 6-month EURIBOR, for the rest of the loan period – from 1.69% + 6-month EURIBOR.
  • For a purchase of real estate, the own contribution needed is from 15% of the price of real estate being bought. We also work with KredEx whose guarantee can reduce the amount of the initial downpayment of a home loan. We accept the co-financing provided by the Rural Development Foundation as self-financing.
  • In the absence of a monetary own contribution, we accept additional collateral (real estate, including undeveloped lots).
  • The main collateral for a home loan is usually the property being bought or renovated, which is mortgaged in favour of the bank. We also accept non-residential accommodation (guest apartments) as collateral.
  • * The bank will cover up to EUR 100 of the insurance costs for the first loan year of the home to be purchased by the borrower, if the insurance contract is entered into via Coop Kindlustusmaakler AS.
  • An applicant must be an Estonian citizen or a foreign national holder of a residence permit
  • The borrower may not be older than 75 years of age upon expiry of the loan term
  • Borrower’s minimum net income €650/per month in Tallinn and Harju County, €600/per month in Tartu and Tartu County or €550/per month in other areas
  • No current defaults in the payment default register

Documents required for applying for a loan

  • Loan application
  • Passport or ID card (with the residence or work permit) or driving license issued in the Republic of Estonia
  • If needed, a calculation for the use of the loan being sought
    If you wish to apply for a loan for construction work, we recommend examining advice related to house-building matters here.
  • Account statements (income and expenditure) for all existing accounts for the last 6 months as of the day before the application
  • Expert assessment of the collateral, prepared by a real estate firm accepted by Coop Pank. The expert assessment must be ordered by the borrower and must have been prepared within the last 6 months before its submission to Coop Pank.

If necessary, the private loan manager may ask questions and request documents additionally.

By taking home loan, it should be taken into consideration that the assets, serving as a guarantee for the loan, should be insured throughout the whole period of borrowing. So your peace of mind is also secured – if something happens, the losses will be compensated and it will be easier to overcome the consequences.

Coop Kindlustusmaakler will make you a quote that matches your insurance interest and the requested conditions.

Home insurance with Coop Kindlustusmaakler:

Submitting an application is easy and we’ll make you an initial offer in one working day.

We’ll always be there for you. In the case of an accident, we will advise you where to go and whom to see, and help you make agreements.

In order to get a quote, please fill in the form on the website, send an e-mail to, or call us on 664 1891.

In addition to monthly loan repayments, allowance has to be made for additional expenses that result from taking out a loan

  • Notarial and state fees for the conclusion of a notarised collateral agreement
  • Fee for an expert assessment of the collateral
  • Insurance of the collateral

The property serving as collateral has to be insured for the term of the loan against fire, water-related emergency, vandalism or natural disaster. For insuring assets, we accept all non-life insurance companies registered in Estonia and licenced by the Financial Supervision Authority and listed on the website of the Financial Supervision Authority.

Furthermore, in insurance matters an independent adviser / insurance broker may be contacted to assist with the identification of the insurance best suited for the interests of the policyholder.

Generally, on a home loan interest and principal payments have to be made monthly. The bank withholds these from the client’s account on the dates agreed in the agreement and on the repayment schedule.

Two repayment schedules are available to choose from for the repayment of the loan

  • Annuity schedule, which has the advantage of monthly payments in the same amount but the disadvantage of higher interest costs
  • Schedule with equal principal repayments, which provides the advantage of lower interest charges compared to an annuity schedule yet has the disadvantage of higher monthly payments at the beginning of the loan term

The financial situation may change during the repayment of the loan. For example, in the event of a child born into the family or of loss of employment, earnings decrease. In this case, there is the option of seeking a grace period in the repayment of the loan and pay the bank interest only during that period. The payment break application form can be filled in here.

Furthermore, there may arise the option of repaying the loan early in part or in full. If the bank is notified about this wish 3 months in advance, no additional fee is charged for the repayment of the loan.

The provisional annual percentage rate on a home loan is 6,240% on the following sample terms: credit amount €81 024, repayment over 30 years in 360 monthly annuity payments, agreement fee €202,56, interest not fixed 6 months’ EURIBOR + margin 1,930% per annum (as at 1 November 2023, the 6 months’ EURIBOR is 4,092% per annum; the negative value of EURIBOR is equated to zero when interest is calculated; EURIBOR may change every 6 months), account management fee €0, total credit amount €175 698,64 and total of repayments €175 901,20.

The rate is calculated on the assumption that the credit amount is used in full immediately and that its principal and interest will be repaid in monthly annuity payments. The rate does not include any expenses related to providing or the collateral. Before you conclude an agreement, we advise you to review the terms and conditions of the financial service and, if necessary, consult a specialist.

For you, a mortgage means that if the loan is not repaid, the bank will be entitled to sell the apartment or house, including the land, owned by you.

If the borrower is not performing their obligations, the bank will contact you and provide you with an opportunity to fulfil the obligation.

By fulfilling the borrower’s obligation, you can prevent the sale of the pledged apartment or house as well as avoid incurring any additional costs or litigation. You are entitled to require the borrower to indemnify any amounts paid by you.

Before you consent to the creation of a mortgage

  • Consider carefully whether you are prepared to risk and give up an apartment or house owned by you if there are any problems with the repayment of the loan.
  • Decide whose and what obligations you are prepared to guarantee.
  • You are entitled to request, from both the notary and the bank, drafts of the agreements to be concluded. When you receive them, review the content of the agreements carefully.
  • Do not hesitate to contact the bank or the notary’s office to find answers to any questions that have come up. Use legal assistance, if needed.

When you are about to sign a notarised agreement

  • Listen to the notary’s explanations very carefully.
  • Do not be hesitate to ask if anything remains unclear.
  • Check to make sure that the agreement states specifically what you have agreed upon with both the borrower and the bank.

Once agreements have been signed

  • Be proactive and take an interest in how the performance of the loan agreement is proceeding. If the borrower does not reply to your questions, make sure to contact the bank.
  • Always communicate any changes in your contact details (address, telephone number or e-mail address). Only in this way you can be certain that the necessary information will reach you.
  • Carefully review any notices sent by the bank and make sure to collect any registered letters.
1Partner Kinnisvara OÜ
Arco Vara Kinnisvarabüroo AS
Domus Kinnisvara
ERI Kinnisvara
Kaanon kinnisvarabüroo OÜ
Kinnisvaraekspert OÜ
LVM Kinnisvara OÜ
Newsec Valuation EE OÜ
OÜ LAHE Kinnisvara
Ober Haus Hindamisteenuste OÜ
Pindi Kinnisvara OÜ
RE Kinnisvara AS
Tõnisson Kinnisvara OÜ
Uus Maa Kinnisvarabüroo OÜ
Aarete Kinnisvara OÜ

The bank usually applied the base interest rate of Coop Pank (KPB) to long-term loans (home loan, mortgage loan) from 1 May 2008 to 18 April 2012.

KPB is quoted and published by Coop Pank on its website every banking day, taking into account money market interest rates and the current state of the economic environment in Estonia and worldwide.

The base rate is more stable compared to individual market interest rates, since it takes into account more comprehensively how the economic environment and interest rates are shaped, follows the market situation at a calm pace and is not swayed by temporary fluctuations in the individual interest rates.

KPB is variable interest. For the client, Coop Pank’s base rate is fixed for three months at a time, changing if KPB has changed during the three months after it was fixed last under the agreement.

Currently, the base rate is 4.25%.

Base rate history

Starting date End date Base rate
22.06.2023   4,25%  
06.03.2023 21.06.2023 3,75%  
01.11.2022 05.03.2023 2,70%  
07.07.2016 31.10.2022 1,20%
18.04.2016 06.07.2016 1,30%
12.02.2016 17.04.2016 1,40%