Affordable Housing programme

Mortgage lending under the Programme of the Government of the Kyrgyz Republic “Affordable Housing 2015-2020”. The programme enables the staff of budget-funded organizations to borrow mortgage loan to purchase finished housing, co-invest in the construction of multi-story apartment building or construct house on the own land plot.

Who is eligible to participate in the programme?

Individuals, who work in state institutions, provided that they meet the following criteria:

  • length of service at the latest job of at least 1 year or the total length of service of at least 3 years
  • no housing possessed by the applicant and his/her spouse, as well as minor children of the applicant
  • no civil and legal transactions pertaining to the residential premise for the past 3 years prior to the date of submitting Programme application
  • applicant’s solvency
  • positive credit history

Loan purpose

  • Purchase of residential immovable property:
    • in multi-story apartment buildings, the total apartment area should not exceed 80 square meters
    • individual residential house with the total area not to exceed 150 square meters
  • co-investment of multi-story apartment building construction or purchase of finished apartment in a non-commissioned apartment building
  • construction of individual residential house, if there is a land plot in the population center of residence.

Mortgage loan conditions

  • Loan period – up to 15 years, in case of individual housing construction – credit line for a period not to exceed 18 months
  • Loan amount: KGS 200,000 – KGS 3,000,000
  • Loan currency–KGS only
  • Interest rate:
    1. purchase of finished residential immovable property:
      • 10% p.a. with applicants contribution of 10% to 20%
      • 9% p.a. with applicant’s contribution of 21% to 30%
      • 8% p.a. with applicant’s contribution of 31% and more
    2. housing construction
  • 12% p.a. with applicant’s contribution of at least 20% of estimated housing cost. Following the construction completion and housing commissioning, the interest rate will constitute 8% p.a. until the end of loan period.
  • Mandatory insurance of the immovable property, purchased under the programme

Requirements applicable to borrowers:

  • Borrower and guarantor should be at least 25 years old at the time of mortgage loan borrowing and not older than 65 at the time when the last mortgage loan installment is repaid.
  • Permanent income. Salary and/or any types of business, including personal household, may be considered as additional income.
  • House construction estimate availability, in case of individual housing construction.
  • Guarantee of 1 person having stable income and immovable property.
  • Experience in entrepreneurship of 3 or 6 months (if any).

List of documents:

  • passport copy of borrower and spouse, of guarantors (if any) and collateral provider with spouse, if the collateral provider is a third party;
  • documents on the family status of borrower and collateral provider, if any;
  • notarized consent of spouse to provide housing as collateral;
  • copy of passport of the current housing owner (seller) and notarized spouse’s consent to sell housing;
  • documents evidencing the income of applicant, guarantor. Therewith, the length of service at the latest (current) job should be at least one year or total length of service should be at least 3 years
  • documents evidencing 3 month experience in entrepreneurship;
  • document for the immovable property provided as collateral (technical passport, title documents, statement issued by the State Registry on no restrictions);
  • extract from the Unified state registry of rights in mortgage property, specifying information on the imposed encumbrances (restrictions) on immovable property;
  • statement on rights in mortgage property previously registered within the territory of the Kyrgyz Republic based on the data of the Unified immovable property information system (UIIS) for the past 3 years;
  • State certificate of private ownership right in land plot in case of individual construction
  • Co-investment agreement, if housing under construction is purchased

Approval of loan disbursement is confirmed by the State Mortgage Company, which, in its turn, is entitled to decline the disbursement of loan subject to reasonable grounds.

Expenses associated with the formalization and registration of mortgage loan agreements, as well as insurance and CIB inquiries are borne by borrower.

For detailed information on the eligibility requirements of the Programme of the Government of the Kyrgyz Republic “Affordable Housing 2015-2020” please go to: http://gik.kg/

* effective interest rate:

  1. purchase of finished residential immovable property:
  • 10.47% p.a. with applicants contribution of 10% to 20%
  • 9.38% p.a. with applicant’s contribution of 21% to 30%
  • 8.30% p.a. with applicant’s contribution of 31% and more
  1. housing construction
  • 12.68% p.a. with applicant’s contribution of at least 20% of housing estimate value. 14.93%

**Interest rate and repayment schedule depend on the requested loan amount, period, solvency, collateral provided etc. At your request, sales officer will provide you with the repayment schedule pursuant to the amount you request and subject to the conditions above.