Mortgage is a real estate secured long-term loan that is disbursed for house renovation.
Loan interest rate | 10% GEL / 7% USD / 5.2% EUR |
Effective interest rate | 10.93% in GEL / From 7.66% in USD / From 5.53% in EUR |
Minimum loan amount | GEL 10,000 |
Maximum loan amount | GEL 1,000,000 or equivalent in other currency |
Maximum loan term | 15 years |
Loan currency | GEL, USD, EUR |
Downpayment | From 0% |
Upfront commission fee | From 0.5% |
Pre-payed fee | 0% - 2% |
Insurance | Real estate (0.3%) |
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