a) a family/single parent/widow who at the time of taking the loan has a child under the age of 1, born after September 1, 2021;

b) A family/single parent/widow who at the time of taking the loan has a minor child that was adopted after September 1, 2021.

What documentation will I need? For persons in civil marriage: Civil marriage certificate; For a single parent: Certificate that he/she is not in a registered marriage; A widow's death certificate of his/her husband/wife; Information about children: Birth certificate(s) of children; In case of adoption, the relevant document; In the case of step-child, the status is determined from the birth certificate.

The subsidy is valid for a maximum period of 60 months after the loan is issued. Note: the maximum term of the mortgage loan is 240 months. If the term of the loan issued by the bank is less than 60 months, the agency will end the subsidy according to the relevant term.

To be purchased/constructed real estate, for the subsidy period, should be loaded with mortgage in favor of the bank. For such loans, grace period/ interest distribution is not allowed.

If you have an adopted/acquired child under the age of 1 (spouses both together and separately) you can use the program only once, regardless of the number of loans you have taken within the program.

If you have 3 or more minor children, including those under the age of 1, you can benefit a second time if you give birth and/or adopt 4 or more children after joining the program. In such a case, you can take an additional loan and the total amount of subsidized loans taken by you should not exceed 200 000 GEL.

If the NBG (hereinafter the National Bank of Georgia/NBG) Refinancing Rate is 10% as of the date of payment of the scheduled interest on the loan, the state's share in co-financing will be determined as follows:

If the NBG Refinancing Rate changes during the loan maturity period to 9%, the state's share in co-financing will change to be determined as follows:

If the NBG Refinancing Rate again increases during the loan maturity period e.g. to 13%, the state's share in co-financing will be determined as follows:

Despite the change (decrease/increase) of the NBG Refinancing Rate, the state's maximum share in co-financing will be determined as follows:

If during the loan maturity period the NBG Refinancing Rate drops to 5%, the state co-financing will be temporarily suspended and resumed once the NBG Refinancing Rate increases by more than 5%.

A borrower has the loan in the amount of 200 000 GEL disbursed at the blended rate: 11.4% - during the fixed-rate period and 12.2% - during the indexed-rate period (the Public Index as of the signing of the Agreement plus the Bank interest), as a result of the NBG Refinancing Rate changes the values will change as follows:

If the Refinancing Rate is 10%, the total monthly payment during the fixed period is - 2000 GEL:

If the Refinancing Rate decreases to 9%, the total monthly payment during the fixed-rate period remains the same - 2000 GEL, though the Client's and the Agency's respective shares in the payments (the shares in the interest payable) change:

If the loan is in the indexed-rate period and the current Refinancing Rate is 10%, the loan interest - 12.2%, the total monthly payment - 2500 GEL:

If the Refinancing Rate decreases to 9%, in the indexed-rate period both the monthly interest payable on the loan as well as the borrower's and the Agency's respective shares in interest will change. The loan interest will be 11.2%, and the total monthly payment - 2200 GEL:

Terms and examples of Produce in Georgia's (hereinafter the State/the Agency) share in co-financing of loans disbursed under the subsidy program for developers (on the approval of the State Program for Mortgage Credit Support Mechanism):

If the loan is disbursed at the fixed rate and/or the loan is disbursed at the blended rate and the fixed-rate period starts and the NBG Refinancing Rate as of the date of the loan disbursement was 10%, the state's share in co-financing will be determined as follows: 10% (Refinancing Rate) - 4.25% (no more than 4%) -> 4%.

If the NBG Refinancing Rate as of the date of the loan disbursement was 8%, the state's share in co-financing will be determined as follows: 8% (Refinancing Rate) - 4.25% (no more than 4%) -> 3.75%.

Despite the change of the NBG Refinancing Rate during the fixed-rate period, the Agency's share in co-financing will not change (the NBG Refinancing Rate as of the date of the loan disbursement will apply for the purposes of refinancing).

If the loan is disbursed at the indexed rate and/or the loan is disbursed at the blended interest rate and the indexed-rate period starts, the NBG Refinancing Rate as of the date of the Agency co-financing will change (increase/decrease) by the same percent as the NBG Refinancing Rate.

Example:

If the NBG Refinancing Rate during the indexed-rate period was 10%, the agency's share in co-financing will be: 10% (the Refinancing Rate) – 4.25% (no more than 4%) -> 4%.

If the NBG Refinancing Rate changes (increases/decreases) after the loan disbursement/the change of the interest rate (during the loan maturity period), the Agency's percent (share) in co-financing will also increase/decrease.

Example:

If the NBG Refinancing Rate changes to 8% after the loan disbursement/the change of the interest rate (during the loan maturity period), the Agency's share in co-financing will be determined as follows: 8% (Refinancing Rate) – 4.25% (no more than 4%) -> 3.75%.

If the NBG Refinancing Rate again increases during the loan maturity period e.g., to 9%, the state's share in co-financing will be determined as follows: 9% (Refinancing Rate) - 4.25% (no more than 4%) -> 4%.

Besides, if during the loan maturity period the NBG Refinancing Rate changes to 5%, the state co-financing will be temporarily suspended and resumed once the NBG Refinancing Rate increases by more than 5%.

Examples:

A borrower has the loan in the amount of 135,000 GEL disbursed at the blended rate: 12.5% - during the fixed-rate period and 13.75% - during the indexed-rate period (the Public Index as of the signing of the Agreement plus the Bank interest). The NBG Refinancing Rate at the loan disbursement was 8%. The amount of the payment by the Client/the State is determined as follows:

If the loan was disbursed at the fixed rate, the total monthly payment is 2000 GEL:

Despite the change of the NBG Refinancing Rate during the fixed-rate period, the Agency's share in co-financing will not change (the NBG Refinancing Rate as of the date of the loan disbursement will apply for the purposes of refinancing). The total monthly payment(s) will not change either.

When the loan moves to the indexed-rate period and the Refinancing Rate is 8% and the loan interest rate is 13.75% as of the date of the interest rate change, the total monthly payment is 2600 GEL:

If the loan is disbursed at the indexed rate, and the Refinancing Rate is 10% and the loan interest rate is 15.75% at the loan disbursement, the total monthly payment on the loan is 2800 GEL:

If the Refinancing Rate decreases to 9%, both the monthly interest payable on the loan (amount), as well as the Borrower's and the Agency's respective shares in interest, will also change: The loan interest will be 14.75%, and the total monthly payment will be 2700 GEL.