Number of mortgage loans issued via state line increases in Azerbaijan

4 March 2020 10:00 (UTC+04:00)

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The monthly amount of mortgage loans issued by the state line increased by 1.6 percent or by 22.9 million manat ($13.4 million) in Azerbaijan, exceeding 1.4 billion manat ($823.5 million) as of March 1, 2020, Trend reports referring to the country’s Mortgage Credit Guarantee Fund on Mar. 3.

The number of monthly mortgage loans increased by 360, reaching 28,335.

On March 1, 2020, the amount guaranteed loans amounted to 77.5 million manat ($45.5 million).

The current loan of the fund in circulation is 711,824 manat ($418,720).

Currently, mortgage loans of not more than 150,000 manat ($88,235) are provided for a period of 25 years with a minimum advance payment of 15 percent, and preferential mortgage loans of no more than 100,000 manat ($58,823) are provided with a minimum advance payment of 10 percent with a maximum term of 30 years.

(1 USD = 1.7 AZN on Mar. 3)