B2C / Nordheim Business
Why did I create a home loan preparation tool?
An idea started at a Tuleva hackathon became a free workbook for preparing home loan information and comparing offers from banks more clearly.
Applying for a home loan means bringing together a lot of information and documents. When you request offers from several banks, the same preparation may be repeated in different forms. You then have to compare offers that differ in loan amount, repayment schedule, costs and conditions.
This practical problem led to the idea for a tool that Erki Talvik and I began exploring at a Tuleva hackathon. My question was not which bank is always best. I wanted to explore how to help people organise their own information, notice missing answers and discuss differences between offers more clearly.
One preparation process, a clearer conversation with the bank
The hackathon prototype aimed to bring the main parts of a home loan application into one considered workflow. It covered applicants’ details, income, liabilities and credit limits, the property, the down payment and the necessary documents. Where information about a bank was missing or a requirement had not been confirmed, it needed to remain a visible question rather than turning into an unjustified statement of fact.
When assessing an offer, it is important to consider the whole picture: the interest margin, repayment model, initial and ongoing costs, whether the financing is sufficient and the conditions. The idea was to give people a clearer overview and a starting point for asking questions and, if necessary, requesting another offer.
From a hackathon prototype to a free workbook
The application built at the hackathon was a demonstration, not a finished banking service. It used sample data, was not connected to banks and did not submit applications to anyone. I initially explored six Estonian banks, but not all bank-specific information had been fully verified. The tool does not make lending decisions or promise a specific saving.
I continued the idea in a more practical form: Nordheim’s free Excel workbook helps you collect your own and a co-applicant’s information, track documents and compare the offers you receive. There are two workbooks: a simpler V4 to get started and a more detailed V3. Choose one version; there is no need to fill in both. You do not need to send the completed file to Nordheim, and you submit your bank application yourself. The bank confirms its specific requirements.
An independent tool to help you prepare
This is my independent project. Taking part in a Tuleva hackathon does not imply endorsement, cooperation or an official association with Tuleva or any bank. The workbook does not submit an application for you or tell you which offer to accept. Its purpose is to help you arrive better prepared for your conversation with the bank.
Download the free home loan workbook from the Nordheim Business shop.
If you try the tool, I would welcome your feedback. It helps identify which parts are useful in practice and what should be made simpler in the next version.
Thank you to my Tuleva hackathon teammate Erki Talvik for his considerable help in shaping the idea.