Mortgage is a real estate secured long-term loan that is disbursed for buiding a house or purchasing land.
Loan interest rate | From 11.5% GEL / from 7.5% USD / from 5.5% EUR |
Effective interest rate | From 13.05% in GEL / from 8.63% in USD / from 6.48% in EUR |
Minimum loan amount | GEL 10,000 |
Maximum loan amount | GEL 1,300,000 or equivalent in other currency |
Maximum loan term | 20 years |
Loan currency | GEL, USD, EUR |
Grace period | 0-6 months |
Downpayment | From 0% |
Upfront commission fee | From 0.5% |
Pre-payed fee | 0% - 2% |
Real estate insurance | 0.3% |
Life insurance | 0.4% |
Special note | Loans up to GEL 200,000 are issued in national currency |
Loan collateral:
Real estate owned/to be purchased by the borrower, or real estate owned by a third person