A mortgage is a loan advanced to the customer to buy or construct a house, or buy a condominium unit. The customer takes a mortgage to pay up to 80% of the property price, and then pay it back to the bank over a period of up to 25 years. Mortgage has three sub types:
Home Loan is loan for the purchase or construction of a house for living purpose.
Home Investment Loan is for the purchase of an additional house for investment purpose.
Home Equity Loan is a loan secured by equity value in the house for renovation or for personal use. Home Equity Loan is capped at USD100,000 or KHR400,000,000.
Mortgage is available in USD and KHR. If the renovation is extensive, the borrower can opt for Home Loan, instead of Home Equity, to get more favorable loan conditions.