Requirements for an apartment:
- 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.
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.
Transfer of Loan:
Contact the nearest XacBank branch office to request the transfer of loan and present the proof of current income standings.
Click here to download loan transfer application form.
|Loan period||Interest rate|
|Up to 30 years||8% ||30%||1 percent of mortgage disbursement|
A list of required documents for loan transfer:
- Loan transfer application form /application forms/;
- Documents to evidence income and revenues (not needed from applicants that are paid the salary through XacBank branch offices )
- Notarized copies of ID card, ;
- Reference letter from Taxation Authorities on outstanding tax payables of economic entities and businesspersons.
A list of required documents for a new loan:
- Reference from Governor of resident areas ;
- Reference on the apartment ownership shall be obtained from Property Registration Authority, /proof of no pledge with other loan obligations in a bank, non-existence of claims from the third party, and no doubts about proprietorship rights/;
- Economic entities and businesspersons should obtain a reference from the relevant tax authorities on absence of overdue taxation liability;
- Notarized copies of ID Cards for loan applicants and the family members;
- 2 passport sized (3x4 sized) photos (taken within last one year) of the Loan applicant;
- Receipt for down payment or proof of financial capacity to make such a payment /receipt, savings book or contract etc/;
- A notarized copy of ownership certificate;
- Original copy of Apartment Sale and Purchase Agreement signed by and between the Seller and the Loan Applicant;
- Documents to prove income and revenues;