Category: Mortgage Loan

The Mortgage Loan Project is implemented by the Bank of Mongolia and commercial banks within the framework of the government\’s integrated housing policy.

Terms and conditions

Mortgage loan	Terms
Maximum limit	150,000,000 MNT
Down payment	Not less than 30% /If you mortgage your home as a down payment, you do not need to follow this percentage
Interest rate /annual/	6.00%
Loan term	Up to 360 months
Commision fee	1% of the loan amount issued up to MNT 1,500,000
Penalty interest rate	Equivalent to 20% of the base interest rate
Loan application fee	10,000 MNT
Credit recording enquiry fee	Individual – 1,000 MNT Corporate – 1,000 MNT

* Effective percentage rate /annual/: 6.09%

Eligibility Criteria

The main borrower/loan applicant has not previously been involved in a subsidized mortgage or rental housing program provided by the State;