Mortgage

 Standart mortgage at the expense of the AMF
  Discounted mortgage loan  
  MIDA Mortgage loan




















Standart mortgage at the expense of the AMF


 
Period:

Maximum 25 years

Amount of loan:
Maximum 150 000 AZN
The initial payment:   
At least 15 % of the real estate market value

Interest rate:

Annual 4 %

Payment type:
Annuity
Guarantee:
Private house or apartment
Insurance:

Borrower's life and work capacity are insured;

Not less than the amount of the loan to the property insured mortgage.

Discounted mortgage loan         

 
Period:

Maximum 30 years

Amount of loan: Maximum 100 000 AZN
The initial payment     At least 15 % of the real estate market value

Interest rate:

Annual  4 %

Payment type: Annuity
Guarantee: Private house or apartment
Insurance:

Borrower's life and work capacity are insured;

Not less than the amount of the loan to the property insured mortgage.


Required documents

Main documents which should be provided for getting mortgage loan


•  Documents required for getting mortgage loan

  • Identification card and its’ copy of borrower (joint borrower)
  • Certificate of Marriage (or bill of divorce) (copy of document).
  • Identification cards (copy of document) of adult family members living together with Borrower (joint Borrower)
  • Identification cards or birth certificate (copy of document) of under age family members living together with Borrower (joint Borrower)
  • Labor contract of Borrower (joint borrower) or copy of workbook cofirmed by Human Resources Department of his/her workplace.
  • Documents proving Borrower’s (joint borrower) income (reference from main or if has additional work place, and etc

•  Documents required for official registration of mortgage

  • Document (extract from state registration) proving property right of dwelling area loading by mortgage and technical passport (if required).
  • Document proving not loading of mortgage subject by other obligation and limits.
  • Reference about registered persons on dwelling area loading by mortgage.
  • Copy of husband/wife’s, other registered adult family members’ consent provided to notarial body about mortgage object selling without court and loading by mortgage.  If the owner of mortgage object is under age person, copy of tutorial and guardian bodies’ consent in the frame of his/her interests.
  • Evaluation act of mortgage subject.

•  Documents which should be provided after official registration of mortgage

  • Origin of mortgage agreement (Composite agreement) and mortgage paper, and documents confirming their state registration.
  • Documents confirming insurance of mortgage object from case of Borrower’s death and loose of work ability and payment of insurance payments.
  • Copy of bought dwelling area purchase contract.
  • Copy of identification card of dwelling area seller (for physical persons).

•  Documents which should be provided if Borrower is private owner

  • Certificate about registration of owner in tax authority (copy).
  • Income tax accepted by tax authority or simplified tax declaration.

•  Documents which should be provided additionally if borrower is from social category

Document confirming Borrower’s concern to social category.

Note: Copies of provided documents should be notarized.

MIDA Mortgage loan 

 

Terms

Preferential mortgage

Maximum amount

100 000 AZN

Maximum annual rate

4%

Maximum period

30 years

Down payment

10%

Documents

Documents required for acquiring a mortgage loan

  • Identity card of the borrower (joint borrower) and a notarized copy thereof.
  • Notarized copy of the reference to the marriage (or about the divorce, death of the spouse) and the ID card of the spouse if the borrower is married
  • Reference about being bachelor taken from "State registration of civil status acts" and a document stating that the borrower is unmarried.
  • Notarized copy of identity cards of adult and juvenile family members living together with the borrower (joint borrower).
  • Reference to the family composition of the borrower (joint borrower) from Asan Service center.
  • A document stating that the borrower belongs to a preferential category.
  • The borrower’s (joint borrower’s) contract of employment or a copy of the employment record book verified by the relevant HR Department (each page must be verified)
  • Documents confirming the borrower’s (joint borrower’s) incomes (references from the primary employer and additional employer if applicable, bank extractions from the salary cards etc.)
  • Mortgage property appraisal certificate
  • Documents required if the borrower is an individual entrepreneur
  • Entrepreneur’s certificate of registration by the tax agencies (a copy thereof).
  • Tax report or a simplified tax statement approved by the tax agencies.
  • Financial indicators of the last 24 months taken from the Tax authorities
  • Terms of use
  • The following persons who have an electronic cabinet and has chosen an apartment through "Guzashtli manzil" system have the right to get MIDA mortgage:
  • Following members of young families:
  • Members of martyr’s family (spouse, children);
  • National Hero (themselves, spouse, children);
  • IDPs or persons with an equivalent status;
  • Person who was employed as a public servant for at least 3 years, as well as those who serve for a special type of public service;
  • Teacher working for a general education school for at least 5 years;
  • Person with Ph.D. degree;
  • A person with outstanding athletic accomplishments (honorary physical education and athletic trainers, winners of national competitions (I place), medalist of international competitions (I, II or III place).
  • Person with the degree of doctor of sciences;
  • Person who was employed as a public servant for at least 15 years;
  • Military servicemen of the Republic of Azerbaijan employed in the military service for at least 3 years, including those who are in the reserve forces and those who are retired from military service (except for the active military servicemen), (except for the military servicemen who are in the reserve forces and those who are retired from military service in the cases specified by the clauses 41.0.6, 41.0.7, 41.0.8, 41.0.10, 42.0.3, 42.0.4 and 42.0.5 of the Law “on military title and military service” of the Republic of Azerbaijan);
  • A person with a special title who served for the authorities of internal affairs for at least 3 years.
  • Workers in the scientific sphere for at least 3 years;
  • Note: The family or person having the right to use preferential mortgage loan, may use this right only once.

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