2 types of mortgages for the villagers / 700 thousand Tomans installments for the villagers!
According to Tejarat News, villagers who want to buy or build a house can have two options Rural mortgage One is the government’s plan to build four million units and the other is a 100 million rural housing loan.
Loan of 250 million Tomans
Villagers can now register for the Housing Leap Plan. In this plan, a loan of 250 million Tomans has been considered for the villagers.
The Housing Leap Plan is a government plan to build four million housing units over the next four years. One of the groups that can register in this project is the villagers.
The interest rate on the loan has been set at 18 percent by the Monetary and Credit Council, but the Minister of Roads has stated that the interest rate is lower for the low-income groups. One of the predictions is that a loan of 250 million Tomans for the villagers will be calculated with a 5% interest rate.
If this loan is given to the villagers with a 5% interest rate, it will be considered as a kind of Qarz al-Hasna loan. Also, considering the long-term installments of 20 years (240 months), this loan seems to be economical.
If the interest rate is 5% for this Rural mortgage To be calculated, rural applicants must pay a monthly installment of one million and 650 thousand tomans.
However, if this interest rate is not calculated or one of the applicants is not considered one of the low-income deciles by the government, this loan must be returned to the bank at an interest rate of 18%, in which case the installments will be calculated at three million and 858 thousand Tomans.
Loan of 100 million Tomans
It was in June of this year that the previous government announced the increase of rural mortgages to 100 million Tomans to the Ministry of Roads and Urban Development and the Housing Foundation. This loan was 50 million tomans last year.
Previously, the repayment period of this facility was 15 years, which has been increased to 20 years. Also, considering that the interest rate of this loan is 5%, so its monthly installments reach 660 thousand Tomans.