Minister of Finance Ch. Khurelbaatar established a working group to study access to Ipotek loans and improve the loan's systems.
The working group is going to present the results of its findings to Cabinet this week. Analysts predict that the loan's down payment requirement will be 25 percent of the property's value and that the annual interest rate will be set at 7.5 percent. State budget funding of 120 billion MNT has been earmarked for Ipotek loan financing in 2018.
Minister of Finance Ch. Khurelbaatar established a working group to study access to Ipotek loans and improve the loan's systems.
The working group is going to present the results of its findings to Cabinet this week. Analysts predict that the loan's down payment requirement will be 25 percent of the property's value and that the annual interest rate will be set at 7.5 percent. State budget funding of 120 billion MNT has been earmarked for Ipotek loan financing in 2018.