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There is a credit core rating in Norway which is used by all financial institutions in assessing an individuals capacity to borrow and repay the loans. For new residents, some banks require to have at least 150,000 and above yearly income to apply for a loan. It really depends on which bank you choose and its best to check and thoroughly read their requirements respectively. Once you meet their requirements, everything is easily assessed and processed electronically.

If you are getting bank loan to purchase residential property, it is important to possess sufficient egenkapital.  The magic number is 25%.  If you already possess 25% of egenkapital of total value of the property (including Fellesgjeld), the banks are more likely to give you a loan and a lower interest rates.  15% is usually the minimum required egenkapital by most banks.

so far, based on my experience, people who are less than 35 years old get the lowest interest rate.  At the moment, interest rate can be as low as 2%.

Hi - could you direct me to names of banks that I should meet ... I am on a work permit(3+ years) and looking to buy a Home using a bank loan

Any banks will do.  You can start with the bank you open bank account with for your salary.

There are DNB, Nordea, Sparebank etc etc.  There are a lot more other banks but these are the ones I know.

How come that you loved for more than 3 years without a knowledge in local banks?