Apartment purchase loan
Loan Purpose:
This loan designed for individuals with a steady source of income to finance the purchase of an apartment.
Loan condition:
Loan amount: Maximum loan amount MNT 100,000,000 in UB, 30,000,000 rural area with 70% loan to value
Interest rate:
| Down payment |
Loan term |
| up to 120 months |
| 30-39% |
2.1% /25.2% per annum/ |
| 40-49% |
2.0% /24% per annum/ |
| above 50% |
1.9% /22.8% per annum/ |
Fees and commissions:
Loan application fee: 15,000 MNT 15 USD
Acceptance fee: 1.0% of advanced amount
Requirements:
• Permanent residency in the area.
• The apartment to be purchased must be chosen beforehand.
• Ability to pay at least 30% of total home value.
• Steady income; e.g., salary or business income sufficient to repay the loan principal plus interest expenses according to the payment schedule specified in the loan agreement.
• The property should not be subject to any on-going or pending legal claim. |
