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- Affordable Housing for Youth
- Mortgage loans for the purpose of apartment acquisition in new-built residential buildings and buildings under construction within the frame of implementation of state target program”Affordable Housing for Youth”
- Property Acquisition
- Repair or Construction
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Mortgage Loans
Conditions Currency of the loan AMD; USD Minimum loan amount 100,000 AMD Minimum loan amount 13% Loan account minimum service charge* 1% Method of loan principal and interest repayment Monthly – annuity method or regular payment (at the wish of the customer) 100% 5 years (60 months) 17% Loan account service charge* 1%, min. 20.000 AMD Method of loan principal and interest repayment Monthly – annuity method or regular payment (at the wish of the customer) In case of the breach of the schedule set by the contract, the following penalties will be applied. The interest, set forth in the Contract, becomes inoperative in regard to the overdue loan starting from the date of delay and the bank interest settlement rate, set by the Central Bank of Armenia, is calculated from the date of delay until the termination date of the overdue liability. In case of delay in loan repayment Penalty – amounting to 0,2 per cent of overdue Loan – for each day of the delay In case of delay in interest payment Penalty – amounting to 0,2 per cent of overdue Interest – for each day of the delay Pledged property annual insurance ** Accident In the full amount of the provided loan Real estate In the amount of the market value Pledged property evaluation by an independent appraiser** Mandatory Early, partial or full repayment of the loan No penalties Term of making decision for loaning 10 business days Loans are provided in cash from the Company’s cashier desk or in a non-cash way from the Company’s bank account. -
Mortgage Loans
Currency of the loan AMD; USD Minimum loan amount AMD 1,000,000 Maximum loan amount AMD 25,000,000 AMD Maximum loan period 20 years (240 months) Loan/ loan coverage maximum ratio on the assumption of pledge assessed market price *** 70% Loan minimum annual interest rate 13% Loan account minimum service charge* 1% Method of loan principal and interest repayment Monthly – annuity method or regular payment (at the wish of the customer) In case of the breach of the schedule set by the contract, the following penalties will be applied. The interest, set forth in the Contract, becomes inoperative in regard to the overdue loan starting from the date of delay and the bank interest settlement rate, set by the Central Bank of Armenia, is calculated from the date of delay until the termination date of the overdue liability. In case of delay in loan repayment enalty – amounting to 0,2 per cent of overdue Loan – for each day of the delay In case of delay in interest payment Penalty – amounting to 0,2 per cent of overdue Interest – for each day of the delay Pledged property annual insurance ** Accident In the full amount of the provided loan Real estate In the amount of the market value Pledged property evaluation by an independent appraiser** Mandatory Early, partial or full repayment of the loan No penalties Term of making decision for loaning 10 business days Loans are provided in cash from the Company’s cashier desk or in a non-cash way from the Company’s bank account. -
Mortgage Loans
Currency of the loan AMD Loan debtor Eligibility criteria: Citizens of Armenia aged over 18 purchasing apartments in new-built residential buildings and buildings under construction situated at 8/2 Adonc st., 6/1 Adonc st. and 27 Azatutyan ave., Yerevan. Loan/ loan coverage maximum ratio on the assumption of pledge assessed market price 70% Minimum loan period 10 years (120 months) Maximum loan amount 20,000,000 AMD, but not exceeding 70% of cost of apartment to be purchased Method of loan disbursement Non-cash – Amount borrowed is transferred to the current account of ‘’Mikshin’’ LLC. Loan minimum annual interest rate 10.5% Loan account service charge* Not required Loan account service charge* 1% Method of loan principal and interest repayment Monthly – annuity method or regular payment (at the wish of the customer) Loan account service charge* Apartment to be purchased. Note: in case of apartments under construction collateralization is made upon completion of construction and submission of ownership certificate in the name of seller. In case of breach of schedule set by the contract, the following penalties will be applied The interest, set forth in the Contract, becomes ineffective in regard to the overdue loan starting from the date of delay and the bank interest settlement rate, set by the Central Bank of Armenia, is calculated from the date of delay till the termination date of overdue liability. Pledged property evaluation by an independent appraiser** Mandatory Insurance of Insurance of pledged real estate. Borrower and co-borrower (s) life insurance. In case of delay in loan repayment Penalty – amounting to 0,2 per cent of overdue Loan – for each day of the delay In case of delay in interest payment Penalty – amounting to 0,2 per cent of overdue Interest – for each day of the delay Early, partial or full repayment of the loan No penalties Term of making decision for loaning 5 business days Loans are provided in cash from the Company’s cashier desk or in a non-cash way from the Company’s bank account. -
Mortgage Loans
Conditions
Currency of the loan AMD; USD Maximum loan period 15 years (180 months) Minimum loan amount 100,000 AMD Maximum loan period 25,000,000 AMD Loan minimum annual interest rate 13% Loan account monthly service charge AMD 2,000 Method of loan principal and interest repayment Monthly – annuity method or regular payment (at the wish of the customer) Loan security Loan/ loan coverage maximum ratio on the assumption of pledge assessed market price *** 70% a/ in case of a loan amounting up to AMD 1,000,000 or equivalent foreign currency Guarantee of at least 2 physical and/or legal entities or other acceptable pledge b/ for the part of the loan exceeding AMD 1,000,000 or equivalent foreign currency Real and/or movable estate or other acceptable pledge In case of the breach of the schedule set by the contract, the following penalties will be applied. The interest, set forth in the Contract, becomes inoperative in regard to the overdue loan starting from the date of delay and the bank interest settlement rate, set by the Central Bank of Armenia, is calculated from the date of delay until the termination date of the overdue liability. In case of delay in loan repayment Penalty – amounting to 0,2 per cent of overdue Loan – for each day of the delay In case of delay in interest payment Penalty – amounting to 0,2 per cent of overdue Interest – for each day of the delay Insurance of Pledged real estate. Loan debtor and co-debtor life insurance debtor and co-debtor life insurance Pledged property evaluation by an independent appraiser** Mandatory Pledged property annual insurance ** Accident In the full amount of the provided loan Real estate In the amount of the market value Method of loan principal and interest repayment Monthly – annuity method or by means of loan principal regular repayments Early, partial or full repayment of the loan No penalties Term of making decision for loaning 5 business days Loans are provided in cash from the Company’s cashier desk or in a non-cash way from the Company’s bank account.
* is charged one-time at the moment of loaning ** Pledged property and accident insurance (“ROSGOSSTRAKH ARMENIA” “NAIRI INSURANSE” ) and assessment are realized by the specialized organizations (“Pledge assessment price range” ) as per their statutory tariffs. *** Loan/loan coverage maximum ratio 90% is possible, if apart from the acquirable property other real estate is also pledged.
