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 Mongolian citizen aged 18 or older, with full legal capacity, and a permanent resident of Mongolia.
The main borrower has not participated in state-run home mortgage loan or rent-to-own housing programs.
The main and co-borrowers must not have outstanding mortgage loans with government-subsidized interest rates.
Must not have overdue or non-performing loans from banks or financial institutions.
Free of payment and tax arrears as per court decisions.
The loan applicant must have been employed for at least 1 year with the current employer, or be self-employed for 1 year or more.
Household debt-to-income ratio must not exceed 45% of income before taxes and social insurance contributions.
The property purchased with the loan must be insured during the loan term.

Requirements for the purchasing real estate

The property must be a private or public apartment located in Mongolia.
The residential area should not exceed 80 m².
The property should be either new or old, fully connected to engineering infrastructure, and approved for use by the competent authority.
The property must be registered in the state real estate register, with no third-party claims or ownership rights.

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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