Terms
tariffs
Buy, build and renovate your apartment with Fast Bank
Acquisition of an apartment or residential real estate (secondary market, not directly from the development company).
Acquisition of an apartment or residential house directly from the development company, as well as development activity.
Contract servicemen of the officer and senior non-commissioned officer corpse of the Ministry of Defense of the Republic of Armenia and employees of the National Security Service of the Republic of Armenia
Citizen of the Republic of Armenia having attained the age of 21, whose age at the time of loan repayment must not exceed 70 years*
* Within the framework of the program, a mortgage loan is provided to the borrower (co-borrower) once. In the case of military married couples, a mortgage loan is provided to only one of the spouses.
Family members of a beneficiary serviceman defined by the program**
** Serviceman's family member: spouse, child, parent, siblings of the serviceman and/or the spouse thereof, parent of a serviceman's spouse.
AMD
AMD 4,000,000-25,650,000
AMD 2,500,000
Non-cash
- Lump sum, in case of acquisition
- Lump sum or in installments, in case of development
In case of loan funding in installments:
The last installment shall finance the last stage of construction work and shall not exceed 20% of the loan amount.
Development shall be completed 1 year after providing the last installment of the loan.
In case of provision of the loan lump sum:
The total amount is frozen in the client's bank account and is released at least in 3 installments.
The amount released in each stage shall not exceed 40% of the loan amount, and the amount of the last stage shall not exceed 20% of the loan amount.
The development works must be completed within a maximum of 2 years from the date of loan issuance (regardless of a longer period specified in the development permit).
120-240 months
"National Mortgage Company"
"Affordable Housing for Young Families"
12,5%
10,5%
5% subsidized by the State
7,82%-9,72%
5,67%-7,29%
Annuity
- The real estate being acquired,
- In the case of development, the land plot/semi-constructed structure, where the real estate is being constructed***,
- If necessary, additional residential real estate.
- Real estate being acquired/right to purchase. In the case of pledging the right to purchase, the entire loan amount transferred to the development company's special account is the object of the pledge.
- Additional residential real estate, if necessary.
- 70%,
- Or up to 90%, if in addition to the purchased real estate/pledge, other residential real estate is pledged, or the client uses down payment insurance in the amount of the difference between the established minimum down payment and the actual down payment.
90%
When calculating the loan-to-value ratio, the smaller of the appraised and acquisition values of the real estate/right to purchase is taken as basis.
Organizations cooperating with the Bank do the appraisal of the real estate/right to purchase.
The maximum amount of real estate acquisition and estimated market value shall not exceed AMD 55 million /not defined only in the case of real estate acquisition/
Not Applicable
At least 30% of the acquired real estate value
In case of additional property collateral or mortgage obligation insurance, starting from 10%
At least 10% of the acquired real estate/purchase right value.
By insurance companies cooperating with the Bank
- Pledged property insurance,
- Accident and life insurance of the borrower/co-borrowers (if any),
- Down payment insurance
Insurance costs are covered by the Bank, except for down payment insurance
Up to 45%
Up to 45%
PTI: 35%
- At the time of making a decision on lending, the existing credit obligations (loan, guarantee) of the borrower/co-borrower must be regular and must not be overdue
- The total number of days past due (current and repaid) in the last 12 months must not exceed 30 calendar days
- At the time of making a decision on lending, existing credit obligations (loan, guarantee) of the borrower/co-borrower and the borrower's spouse must be regular and must not be overdue
- The total number of days past due on the loan of the borrower and the spouse thereof (current and repaid) in the last 12 months must not exceed 30 calendar days
If the borrower's outstanding obligation per a single loan does not exceed AMD 1,000 (one thousand), then the loan is not considered overdue.
Within 90 calendar days from the loan issuance date (as of the last installment of the loan, if the loan is provided in installments)
Within 30 days from the loan issuance date
Not required
None
0,1% daily
0,13% daily
Early repayment
- Statement on restrictions: AMD 10,000
- Fee for state registration of rights: AMD 27,000–53,000
- 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, the fees for services provided by them may change
- Stable source of income (including secondary sources of income, and if such is available, the borrower must substantiate it with appropriate documents),
- Positive or neutral credit history,
- Compliance of the collateral with the criteria acceptable to the Bank,
- Reliable and complete documents.
- Negative credit history
- Insufficient income
- High-risk source of income of the client
- Unreliable information provided by the borrower
- Compliance of the collateral with the criteria acceptable by the Bank
- The buyer and the seller of the real estate are the same family members.
RA Government Decision No. 1091-N of 22 August 2019
Details of refinancing of the Program "Affordable Housing for Servicemen" as offered by "Home for Youth" RCO CJSC
"State Support for Servicemen" Program offered by the "National Mortgage Company" RCO CJSC
"Mortgage Loan Refinancing Procedure" offered by "Home for Youth" RCO CJSC
"Mortgage Loan Refinancing Procedure" established by the "National Mortgage Company" RCO CJSC
! Cases not regulated by these terms and conditions are governed by the terms and conditions of STATE SUPPORT FOCUS PROGRAM FOR THE ACQUISITION OF AN APARTMENT OR RESIDENTIAL HOUSE OR THE CONSTRUCTION OF A RESIDENTIAL HOUSE BY CONTRACT SERVICEMEN OF OFFICER AND SENIOR NON-COMMISSIONED OFFICER CORPS.
*** In the case of development, the Program is available upon a construction permit for the construction of a residential house on a land plot adjacent to the house or land plot designed for residential construction, as registered in the name of the serviceman with the right of ownership (joint or shared ownership) (construction can be carried out by a legal entity or an individual entrepreneur).