Banks grant mortgage loans to 18,339

Ulaanbaatar /MONTSAME/ Commercial banks of Mongolia have received so far re-financing requests for low interest mortgage loans totaling 846.3 billion togrog. Since commencing the annual 8% mortgage program last June, the banks have received requests to refund already awarded housing loans of 846.3 billion togrog, which have been delivered under the Government program to stabilize the mortgage system of the nation. Refunding requests for the loans totaling 518.7 billion from 18 thousand 166 citizens have been approved by the commercial banks. During the same period, the commercial banks have received low interest mortgage loan applications totaling one trillion togrog. After a careful consideration over the new requests, the banks decided to grant mortgage totaling one trillion 25.8 billion togrog to 18 thousand 339 applicants.