6% mortgage loan

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6% mortgage loan

XacBank provides mortgage loans with an annual interest rate of 6%, under the housing loan program jointly implemented by the Government of Mongolia and the Bank of Mongolia.

Loan size

Up to MNT 150 million

Loan period

Up to 30 years

Annual interest rate

6.0%

Requirements

For living purposes;

Up to 80 sq. m sized apartments;

Issued the Apartment Ownership Certificate (Real Estate Certificate);

No third party claims against proprietorship rights of the apartment.

Loan terms

Requirements for the Loan Applicant

Transfer of Loan

Loan terms

Required documents

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.

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