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Conditions |
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% |
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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 |
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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% |
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Term of loan |
Up to 360 months | Up to 120 months | |||||
| 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 | ||||||
| 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 | ||||||
| Credit database reference fee |
For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT |
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Actual cost /annual/: 21.1%-23.5%