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Apartment Mortgage Loan |
Conditions |
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MNT |
USD |
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| Maximum loan amount |
Up to 500,000,000 MNT or equivalent USD
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| A credit analysis is conducted using a standard form that examines the borrower’s ability to pay and the financial difficulties the borrower may face, and the borrower’s total monthly loan and interest payments, debt-to-income ratio is not more than 60% | |||||||
| Down Payment | 20% | ||||||
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0% down payment required if an additional property is mortgaged
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| Loan interest | Advance payment /Proportion of the price of the apartment/ |
20.0%-29.9% of the value of the additional mortgage or the apartment |
30.0%-39.9% | 40.0%-49.9% |
50.0% or more
|
If an additional apartment is mortgaged
|
20% or more |
| Loan interest /month/ |
1.80% |
1.70% | 1.65% | 1.60% | 1.35% |
1.00% |
|
| Loan interest /annual/ |
21.6% |
20.4% | 19.8% | 19.2% | 16.2% |
12.0% |
|
| Term of loan |
Up to 360 months |
Up to 120 months |
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| Service fee |
1% of the loan amount or the maximum amount is 1,500,000 MNT or equivalent currency |
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| Increased interest |
Equal to 20 percent of the loan interest |
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| Fee of Changes to the Original Loan Term |
Up to 1% of the loan balance / Maximum amount 1,000,000 MNT |
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| Application Fee |
10,000 MNT |
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| Credit database reference fee |
For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT |
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Actual cost /annual/: 19.3%-21.7%
