6% Mortgage loan

Loan condition

Down payment guaranteed terms
Available	Rural areas
Loan amount	Up to MNT 150.0 million
Interest rate (annual)	6.0%
Term of loan	Up to 30 years
Down payment	30% and more
Guarantee percent	Up to 60% of down payment
Actual cost of loan /annual/	6.09%
Service fee	From loan amount - 1.0% /max MNT 1,500,000/
Guarantee fee for CGF	50,000 ₮ (1-time payment)
Guarantee commission for CGF	1 percent of the guaranteed loan balance and is paid annually

Requirement

Borrower requirements

Be a citizen of Mongolia who has reached the age of 18, has full legal capacity, and is a permanent resident of Mongolia.
The main borrower has not participated in the state-run home mortgage loan or rent-to-own housing program.
The main and co-borrower must not have outstanding mortgage loans with subsidized interest rates implemented by the government.
To have no overdue and non-performing loans in banks and financial enterprises.
To be free of payment and tax arrears according to the court decision.
The loan applicant must have worked for the employer enterprise for 1 year or more, and if self-employed, must have been engaged in the business for 1 year or more.
Household debt-to-income ratio should not exceed 45 percent of income before social insurance contributions and tax.
The loan financed property, and the borrower should be insured during the term of the loan.

Requirements for the purchasing real estate

Having a private or public apartment located in Mongolia.
Residential area should not exceed 80 m2.
New or old apartments fully connected to the engineering infrastructure and accepted for use by the decision of the competent authority.
Registered in the state register of real estate, the right to claim ownership of property and other property rights to third parties has not arisen.

Required document

The original documents below are required. It includes:

Loan request
Identification card (original copy)
1 pcs of ID photo
Proof of employment with salary amount and years of employment (Statement is valid for 30 days)
Employment contract
Documents confirming household income and business income
If currently owed loan to banks and non-bank financial enterprises, loan contract, collateral agreements, and loan account statements
Apartment sale and purchase agreement
Property real estate certificate for collateral
Other documents required during the research

The following documents can be obtained from the KHUR system by scanning your fingerprints at the bank branch, or you can bring them in original.

A description of whether there are debts or payments from the General Directorate of Public Administration
Copy of marriage certificate or marriage enquiry
Real estate enquiries about whether the loan is placed as collateral
Identification of the resident committee or identification from the public service electronic machine; (Description is valid for 30 days)
Statement of Social Insurance contributions from the electronic machine of public services.

Note: The co-borrower must also prepare the above materials.

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