6(+-1)% MORTGAGE

LOAN TERMS:

REQUIREMENTS FOR AN APARTMENT:

REQUIREMENTS FOR THE LOAN APPLICANT

Above 18 years of age, legally eligible, citizen of Mongolia;
No bad record of overdue, bad loans from financial institutions, or debts payable in accordance with court resolution for the past 6 months;
None of family members has outstanding loans from the state loan program for public servants;
Ratio of debts to pre-tax income is 45% ( including monthly payment of consumption and business loans);
Consistent business and salary income;
Stable continuous employment or business activities for the past one year;
Accumulated down payment or ready to pledge an apartment of own proprietorship for the amount of the down payment;
To be not more than 65 years of age upon expiry of the loan terms;
Covered with life and property insurance.

REQUIRED DOCUMENTS:

Notarized ID copy of the applicant;
1 passport-size photo;
Marriage certificate, if applicable;
Residential Reference;
Employee reference letter;
Social Insurance book;
Copy of employment contract;
Business owners to submit documents related to their business operations;
Documents showing an applicant’s capacity to pay off stated down payment;
For newly built apartments, receipt of down payment transaction and reservation contract of the apartment;
For previously used apartments, Certificate of ownership, apartment purchase agreement and reference letter;
State Registry Office References on whether any family member has ownership right immovable property;
Other.

* Both main applicant and co-applicant should complete the same documents.

REQUIRED DOCUMENTS FOR LOAN TRANSFER:

Loan transfer application form;
Documents to evidence income and revenues;
Notarized copies of ID card, ;
Reference letter from Taxation Authorities on outstanding tax payables of economic entities and businesspersons.

Loan request