A SOLUTION TO THE HOUSING PROBLEM!
MORTGAGE IN TOLUBAY BANK - IS A SOLUTION YOU ARE READY FOR!
The main advantage of a mortgage is that instead of years of saving up the necessary amount for the purchase of a house, you have the opportunity to live in a new apartment (or house) right away. Moreover, the property purchased with a mortgage is immediately owned by the borrower of the mortgage loan. The borrower and his family members can register in the new house. In addition, mortgages have a number of "advantages": Mortgage borrowers are provided with a property tax deduction, which actually reduces the mortgage interest rate due to the fact that the borrower will not pay income tax for the amount spent on the purchase of a house, and on mortgage interest; long term lending makes mortgage payments are not too large and, therefore, not too burdensome.
Main requirements are as follows: documentary proof of income ( salary, deposits, rental income, other), Kyrgyz citizenship, at least one year of work experience at the one place, ability to provide guarantors for the loan, etc.
Collateral insurance is approximately 0.2% of the property value (depends on the insurance company chosen by the client).
Main benefits:
- Consideration within 1-3 business days;
- No fees for review, cash-out and recalculation of the loan schedule.
Documents to be submitted to the Bank to obtain a mortgage loan:
- Passport (marriage certificate, certificate of marriage dissolution, etc.);
- Documents confirming the size of income and the amount of deductions made by the Borrower, family members, his guarantors for the past 12 months, the documents rlated to the business, etc;
- Documents on acquired real estate;
- Reference from the State Institution "Cadastre" under the State Agency for Land Resources (property);
- Other documents if necessary;
- Repayment of the loan is made by annuity payments.
Terms of the mortgage of the "Tolubay" Bank:
Terms - 5-7 years
- The initial payment - not less than 30%;
- Interest rate in KGS - 17% - 21% ;
- Interest rate in USD - 14% - 18%;
- Effective interest rate in KGS - 18.39% – 23.14%;
- Effective interest rate in USD - 14.93% - 19.56%.
