How do I apply for the state mortgage and what documents are needed?
The state mortgage (Fund money, ~8% a year, up to 25 years) is obtained through one of the Fund's authorised banks: preliminary assessment at the bank, then documents uploaded to the Fund's electronic system, valuation and insurance of the apartment, notarisation and disbursement by the Fund. The standard set: ID card, income certificate or ASAN Finance consent, family composition certificate, the apartment's title extract and valuation report.
The state mortgage accounts for most housing loans in Azerbaijan because it is far cheaper than commercial mortgages. The process has two sides: the bank checks you (income, history) and the Fund checks the apartment and the cap. The typical timeline is 3–6 weeks; most delays come from incomplete documents and title problems with the apartment. Below is the step-by-step process and the documents needed at each stage.
What you need
- 1 Borrower: ID card, official income (ASAN Finance / certificate), family composition certificate, marriage certificate (if any)
- 2 Apartment: title extract from the state property register, technical passport, seller's ID, certificate of no debts or liens
- 3 Valuation report (from an appraiser accepted by the Fund) and home insurance
- 4 Down payment: usually 15% for the standard mortgage (10% for the subsidised one)
Bank offers that fit this case
| Bank | Loan | Rate | Term | |
|---|---|---|---|---|
Yelo Bank
|
Yelo - Dövlət İpotekası | 8% | 300 mo. | Details |
Unibank
|
Unibank - Dövlət İpotekası | 8% | 300 mo. | Details |
Rabitəbank
|
Sərfəli ipoteka krediti | 8% | 300 mo. | Details |
ATB Bank
|
ATB Güzəştli İpoteka | 4%% | 360 mo. | Details |
Xalq Bank
|
Daxili İpoteka | 9%% | 264 mo. | Details |
|
Xalq Bank
|
ARİKZF hesabına ipoteka | 7%% | 300 ayadək mo. | Details |
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VTB Bank
|
VTB İpoteka | 8% | 300 mo. | Details |
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ASB Bank
|
İpoteka krediti | 7%-dən başlayaraq% | 300 ayadək mo. | Details |
Sample calculation
Estimated figures for 100 000 AZN over 300 months at ~4% effective rate. The exact number depends on the bank.
How to apply?
What to watch for?
- ✓ Get pre-approval from the bank first, then look for an apartment; you can then negotiate confidently on timing and amount.
- ✓ All owners listed in the title extract must consent; if a minor is an owner, guardianship authority permission is required.
- ✓ If the valuation comes in below the sale price, you will have to cover the difference with your down payment; keep a reserve.
- ✓ Compare the fees and insurance terms of several authorised banks: the Fund's rate is the same, the bank costs differ.
Frequently asked questions
For how many years is the state mortgage granted?
Usually up to 25 years for the standard mortgage and up to 30 for the subsidised one. The borrower must be under 65 at maturity, which can shorten the real term.
Can I submit documents to the Fund myself?
No; applications go only through an authorised bank, which uploads the documents to the Fund's electronic system. You can track the process in your e-ipoteka account.
Which apartments can be bought with the state mortgage?
Apartments with a title extract, meeting the Fund's age and area requirements, free of liens and debts. Buildings under construction are possible only in projects accepted by the Fund.
Related questions
Useful links
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