Terms
tariffs
Development of a residential house in border and Isolated residential areas
Construction/continuing development of separate residential houses in border and separate rural areas
Individuals aged 18-65
Spouses registered with Civil Status Registration Authorities, who have at least one minor child*** and are citizens of the Republic of Armenia, or
Spouses registered with Civil Status Registration Authorities, who have no minor children*** and are citizens of the Republic of Armenia, and whose combined age does not exceed 75 (inclusive), or
A single parent (widow/ widower) being a citizen of the Republic of Armenia and having at least one minor child
In case of separate residential areas:
- Spouses registered with the Civil Status Registration Authorities, with at least one child under the age of 13, having RA citizenship, who have not been registered in Yerevan during 1 year prior to application for the program;
- Spouses registered with the Civil Status Registration Authorities, with at least one child under the age of 13, having RA citizenship, at least one of them meeting the requirements of a teacher.
After the loan application is approved, the loan is provided exclusively after the applicant is granted the status of a beneficiary by the Unified Social Service.
AMD
120 months
AMD 1,000,000-16,000,000
In the case of Baghanis, Berkaber, Kirants and Voskepar residential areas of Tavush region, the maximum loan amount is AMD 21,000,000
13%
13,92%
This does not include subsidy amounts
Amount of support
Up to AMD 277,000 monthly, but not to exceed AMD 16,000,000 overall
Up to AMD 203,000 monthly, but not to exceed AMD 12,668,000 overall
Up to AMD 366,000 monthly, but not to exceed AMD 21,000,000 overall
Up to AMD 266,000 monthly, but not to exceed AMD 16,626,000 overall
Monthly support limits (on the principal and interest) are not included in the payments for the first month, as set forth in the payments schedule
Annuity
(equal monthly payment of principal and interest)
Non-cash, in installments
Furthermore, each subsequent allocation is made only if the loan amounts of the previous installment have been used for the intended purpose.
None
None
None
None
0,1% daily
0,13% daily
Land unit designated for development or semi-constructed structure**
Other real estate if necessary
Non-applicable
By an independent appraiser cooperating with the Bank
Support on the mortgage loan terminates in the following cases:
- in case of full repayment of the loan
- in case of registering title over the property in the name of other persons during the loan term (regardless of the share)
- in case of overdue liabilities on the loan in excess of 90 days during the loan term
- in case of reaching the limit on the total amount of monthly repayments by the State
The amount of the loan provided is subject to return to the State by the beneficiary in a mutually agreed manner or by judicial procedure:
in the event of death of the beneficiary (borrower) during the loan term, if the beneficiary's heir is
not the beneficiary's spouse or child
- the loan amount has been used for purposes other than its intended purpose
- no completion certificate has been provided for the property constructed by the beneficiary within 3 years after granting the loan
- Statement on restrictions: AMD 10,000,
- Fee for state registration of rights: AMD 26,000–53,000,
- Fee for notary certification: AMD 12,000-30,000,
- Pledged property appraisal fee: AMD 15,000-25,000.
Regardless of fees paid to third parties as specified in these terms, fees for services provided by them may change.
Individual/Legal entity
(based on the decision of the authorized body approving the loan)
At the time of loan issuance, existing loans and guarantees provided against the obligations of other persons must not be overdue or classified as controlled or under stricter categories.
Title to the real estate under development is registered in the names of beneficiaries.
Within 36 months after extending the loan, but no later than the provision of the final tranche
* The list of residential areas is set out in "Appendix 1".
** Mortgage loan may be provided to continue construction if in the section "Additional Notes and Information" of the State Registration Certificate of rights to a semi-finished building the degree of completion is indicated as up to 80% finished, or as unfinished or semi-constructed.
*** A parent with a minor child (children) is deemed as a beneficiary if the child (children) is the RA citizen. Moreover, if a foreign country has been mentioned as the place of state registration of birth of a child (children), then the parent is considered as a beneficiary if the Republic of Armenia passport has been issued to the child (children).
! If not regulated by the provisions herein, as well as the terms of the program are regulated by the RA Government Decisions No. 842-Լ of 9 June 2022 and No. 1562-Լ of 6 October 2022.