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Mortgage loan |
Terms |
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MNT |
USD |
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Maximum limit |
Up to 500.000.000 MNN or equivalent of USD | ||||||
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The loan analysis will be conducted using a standard form. The loan analysis will examine the borrower’s ability to repay the loan and assess the financial difficulties that the borrower may face. The total loan and interest payments of the borrower on a monthly basis shall not exceed 60% of debt-to-income. |
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Down payment |
20% |
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If additional property is pledged the down payment amount can be decreased down to 0% |
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Interest rate |
Down payment /Percentage of housing value / |
Additional pledged property or 20.0%-29.9% of the amount | 30.0%-39.9% | 40.0%-49.9% | 50.0% or above | Additional property pledged |
20% or above |
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Interest rate/monthly/ |
1.80% | 1.70% | 1.65% | 1.60% | 1.35% | 1.00% | |
| Interest rate/annually/ | 21.6% | 20.4% | 19.8% | 19.2% | 16.2% |
12.0% |
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Terms |
Up to 360 months |
Up to 120 months |
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Service fee |
1% of the loan amount /maximum MNT 1,500,000/ or equivalent currency |
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Penalty interest rate |
Penalty interest rate /equivalent to 20% of base interest rate/ is added to the base interest rate |
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Fee for changing the original loan terms |
1% of the loan balance |
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Loan application fee |
10,000 MNT | ||||||
| Credit recording enquiry fee /during loan analysis procedure/ |
Individual – 1,000 MNT Corporate – 1,000 MNT |
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* Effective percentage rate /annual/: MNT 20.40%-21.86%