INTEREST RATE OF THE HOUSING MORTGAGE LOANS REDUCED TO 6%
On October 1, 2020, the Governor of the Bank of Mongolia issued Decree A-392 to amend the “Residential mortgage loan financing procedure” to reduce the interest rate of housing mortgage loans to 6%.
Within the amendment, the interest rate of housing mortgage loans has been reduced to 6% since October 1, 2020, and this change will only apply to the new mortgage loans.
“MIK HFC” LLC will purchase and securitize mortgage loans by participating banks under the Affordable Housing Finance Program.
Banks to Provide 6% under the Program:
Please click the following link to see the “Residential mortgage loan financing procedure” approved by the Decree A-295 of the Governor of the Bank of Mongolia dated October 25, 2016.
A-295 /Residential mortgage loan financing procedure/
Click the following link to see the amendments.
А-392 /Changes in Residential mortgage loan financing procedure/
INTEREST RATE OF THE HOUSING MORTGAGE LOANS REDUCED TO 6%
On October 1, 2020, the Governor of the Bank of Mongolia issued Decree A-392 to amend the “Residential mortgage loan financing procedure” to reduce the interest rate of housing mortgage loans to 6%.
Within the amendment, the interest rate of housing mortgage loans has been reduced to 6% since October 1, 2020, and this change will only apply to the new mortgage loans.
“MIK HFC” LLC will purchase and securitize mortgage loans by participating banks under the Affordable Housing Finance Program.
Banks to Provide 6% under the Program:
Please click the following link to see the “Residential mortgage loan financing procedure” approved by the Decree A-295 of the Governor of the Bank of Mongolia dated October 25, 2016.
A-295 /Residential mortgage loan financing procedure/
Click the following link to see the amendments.
А-392 /Changes in Residential mortgage loan financing procedure/
