Purchase of new housing in the regions of the Kyrgyz Republic

Requirements for participants

Participant (target group): All citizens of the Kyrgyz Republic from 21 to 65 years of age* with low and middle incomes, living and working or doing business outside the cities of Bishkek and Osh, having the following income limit (the equivalent in national currency at the National Bank of the Kyrgyz Republic exchange rate at the time of loan application):

•       250 euros for families without children;

•       350 euros for families with one child;

•       400 euros for families with two children;

•       425 euros for families with three children;

•       438 euros for families with four children;

•       450 euros for families with five or more children.

Family status: A participant must have a family, while the participation of citizens who do not have children in the single-parent family, but having one parent is allowed

Work experience:

• Total work experience is at least 3 years or at least one year of work experience in the given organization. Or
• Availability of a valid business at the time of loan application - at least 12 months, if the borrower is an individual entrepreneur engaged in commercial or agricultural activities based on a patent or certificate;
• Availability of a private subsidiary farm at the time of application for a loan - at least 12 months if the borrower is an individual who owns a private subsidiary farm;

Lack of housing**: Absence of own housing in the territory of the Kyrgyz Republic for the participant, the participant's spouse and minor children of the participant

No transactions with housing: No civil law transactions with housing throughout the Kyrgyz Republic for the last 3 years prior to the date of application for participation in the Program on the part of the participant, the participant's spouse and minor children

Other: Participant's ability to pay

* Age of 21 years at the moment of application for participation in housing programs implemented by the State Mortgage Company OJSC and up to 65 years of age at the moment of repayment of the latter

** Participation in housing programs implemented by the State Mortgage Company OJSC is allowed if there is a share of less than 12 sq.m. in the housing inherited by the participant, the participant's spouse and minor children of the participant

Requirements for new housing to be purchased

Collateral: Apartment in a new apartment house or individual new residential house at the place of employment within a radius of 60 km (outside the cities of Bishkek and Osh)

Total area:

• Apartments in apartment buildings - no more than 80 square meters
• Individual residential houses - no more than 150 square meters

Value: Between 10,000 and 30,000 euros per housing unit in the equivalent of national currency at the National Bank of the Kyrgyz Republic rate at the time of the loan application. 

Basic loan terms

Target allocation of the mortgage loan: Purchase of new finished housing (on the primary market), residence in which is a mandatory condition

Loan currency: Kyrgyz som

Max. loan amount: Up to 24,000 euros in national currency equivalent at the NBKR exchange rate at the time of loan application

Loan term: from 5 up to 15 years

Down payment: minimum 20% of the value of the new housing to be purchased*

Interest rate: 10% per annum including sales tax

Commission: Absence of any commission for administration of the mortgage loan and other additional fees

Loan security: Finished housing purchased under a mortgage loan

Insurance: Acquired housing is subject to compulsory annual insurance.

*In the absence of the down payment, it is possible to provide additional collateral at the discretion of the partner bank of the State Mortgage Company OJSC