6% of the mortgage loan

6% of the mortgage loan

Mortgage loan program jointly implemented by the Bank of Mongolia and commercial banks.
360 months
Max Limit
160 mln ₮
  • Loan amount Up to 160 million MNT
    Term Up to 360 months
    Down payment 30%
    *If additional immovable property is pledged down payment amount can be decreased down to 0%.
    Interest rate (annual) 6%
    Interest rate (annual) 6.09%
    Commission fee 1% of loan amount
    Application fee 20,000 MNT
  • Eligibility criteria for borrower

    • A citizen of Mongolia over the age of 18 with full legal capacity, and has permanent residency in Mongolia;
    • The principal borrower has not previously been involved in a subsidized mortgages or rental housing program provided by the State;
    • No outstanding loans in respect of subsidized mortgages provided by the Government (applicable to co-borrowers)
    • No overdue loans or non-performing loans at any commercial bank or financial institution;
    • Must not have any tax debt and not be liable for payment under any court order;
    • The applicant shall have been of steady employment at the existing place of work for at least the past 12 months or running their business for at least 2 years;
    • The household debt-to-income ratio may not exceed 45.0% of the household’s pre-tax income and social insurance fee;
    • The collateral insurance and life insurance are required until the end of the loan term


    Eligibility criteria for the apartment to be purchased

    • The total area of the residential property to be purchased must not exceed 80 square meters;
    • An apartment must be fully connected to electricity, heating, water and sewage, communications and duly commissioned by the relevant authority;
    • Collateralized real estate shall be registered by the state, not double registered nor legally pursued by the third party whatsoever
    • Loan application /1 passport-sized photo/
    • Handwritten application (Loan amount, term, interest rate, purpose should be clearly stated and signed)
    • Identification card;
    • Residential reference letter from Governor of resident areas;
    • In case of customer has salary income, employment reference;
    • In case of customer has salary income, employment contract /term is valid/;
    • Certified copy of salary transaction if paid by another bank (last 1 year);
    • Documents proving business activities;
    • Evidence of down payment or ability to pay down payment;
    • The sales contract/Apartment sales contract and copy of state registration certificate;
    • In case of new apartment, copy of the State inspection evaluation report of building commissioning
    • HUR reference: Social insurance payment (fingerprints can be read at the bank branch);
    • HUR reference: Marriage registration reference (fingerprints can be read at the bank branch);
    • HUR reference: Real estate registration reference (fingerprint can be read at the bank branch);
    • HUR reference: Property ownership reference (fingerprint can be read at the bank branch);
    • HUR reference: A reference whether have any debt by court decision;
    • A reference whether own real estate obtained from the National Registration Office;
    • Other required documents

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