BANKS REFINANCE HOUSING LOANS OF 507.7 BILLION TOGROG

Ulaanbaatar /MONTSAME/ Commercial banks have received low interest housing loan applications totaling one trillion togrog. After a careful consideration over the new requests, the banks decided to grant mortgage totaling 999.7 billion togrog to 17 thousand 867 applicants. Since commencing the annual 8% mortgage program last June, the banks have received requests to refund already awarded housing loans of 845.8 billion togrog, which have been delivered under the Government program to stabilize the mortgage system of the nation. Refunding requests for the loans totaling 507.7 billion from 17 thousand 786 citizens have been approved by the commercial banks.