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Central Bank to finance 80 percent of mortgage loan www.montsame.mn
Bank of Mongolia made the following amendments to the regulation on mortgage loans. Therein:
The Bank of Mongolia will finance 80 percent of the total funds for the mortgage program, and commercial banks will provide the remaining 20 percent starting this October.
The increased amount of a loan to be issued through the source of BoM does not exceed MNT150 million in Ulaanbaatar and MNT100 million in rural areas starting from October 1, 2022.
It was decided that If families moving to rural areas get a mortgage loan with an annual interest rate of 6 percent, the Loan Guarantee Fund can give a guarantee on a certain part of their 30 percent advance payments
Published Date:2022-10-04
