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HOW MANY YEARS ARE MORTGAGE LOANS GIVEN?
⚡️QUESTION;
I wanted to buy a house on a subsidy basis. If I am paid a subsidy for a portion of the down payment of the house I am receiving, how long do I have to pay the rest of the fees?
⚡️ANSWER;
Presidential Decree No. PF-11.03.2021 of 6186 stipulates that the Ministry of Finance will allocate funds to commercial banks and mortgage loans to the population by commercial banks for a period of 6 years (including the twentieth year) with a grace period of 20 months.
🟢 According to the above basis, you can pay the remaining payments of the house for 20 years. Your payment schedule will show how much you have to pay each month for 20 years based on the value of your home.