Buy or Renovate Real Estate to Rent
If you want to buy or renovate real estate and then rent it out, and you already have some experience and rental income in this regard, Terabank's investment mortgage loan will help you achieve your goal.
Investment mortgage loans are disbursed to individuals residing in Georgia. In the process of reviewing the loan, the bank also takes into account the rent that you will receive in the future by renting out the purchased or renovated commercial space.
*The effective interest rate is calculated for 100,000 GEL. Term - 84 months.
Investment Mortgage Loan Conditions:
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Purpose
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Real estate purchase/renovation for future rental
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Loan amount
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Minimum - 1,000 GEL
Maximum - individually
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Loan maturity
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Minimum - 6 months
Maximum: 240 months in GEL
120 months in foreign currency
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Loan currency
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GEL, USD, EUR
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Annual interest rate
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GEL - refinancing rate from +3.3%
USD - from 7.45% (variable rate tied to LIBOR)
EUR- from 7.10% (variable rate linked to Euribor)
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Effective interest rate
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GEL - from 14.7%
USD - from 7.9%
Euro - from 7.50%
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Loan repayment term
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Equal monthly installments
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Loan security
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Real estate for purchase/renovation
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Income
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Future rent along with existing income
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Loan disbursement fee
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0.5 % (min.50 units)
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Fee for searching information in Credit Info database
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18 GEL/6 USD/6 EUR
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Contribution to the purchase of real estate
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From 0% (determined based on the liquidation value of the property)
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Withdrawal fee
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GEL - 0.20% min. 0.50 GEL
USD / EUR - 0.50% min. 1 GEL (in the relevant currency)
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