Terms
tariffs
Buy, build and renovate your apartment with Fast Bank
Residential or commercial real estate acquisition (including parking lot)***, development, renovation or loan transfer from another financial institution
Resident and non-resident
Individuals aged 18-65
AMD
USD*
36-240 months
Moreover, renovation loans with a term of more than 120 months can be provided if the client or the person running the joint household has another mortgage loan
3,000,000-200,000,000 AMD
8,000-500,000 USD
13,5%**
10%
14,47%
10.56%
Annuity/Differentiated
(equal monthly payment of principal and/or interest)
Non-cash:
Lump-sum for acquisition and refinancing;
Lump-sum or in installments for renovation and development.
None
None
None
None
0.1% daily
0.13 % daily
Real estate to be acquired, developed or renovated/right to purchase and/or other real estate
Minimum sales price of the property being purchased
10% - In the case of purchasing property from the development company.
20% - In case of purchasing property from the secondary market, if the property being purchased is in Yerevan.
30% - in case of purchasing property from the secondary market, if the property is in a region.
30%
90% - in case of purchasing property from a development company, renovating property in a dilapidated condition, and in case of development loans.
70% - in case of purchasing property from the secondary market, if the property being purchased is in Yerevan.
70% - in case of renovation loans and acquisition of property from the secondary market, if the property is located in a region.
70%
In the case of acquisition loans, if the maximum loan-to-value ratio is 50%, then simplified income-expense analysis is performed (for loans of up to AMD 30 million or of equivalent value in USD).
In the case of purchasing property from the primary market, no property appraisal is performed; the basis for the appraised value is the value indicated in the sales price statement.
In the case of purchasing property from the secondary market, the pledged property is appraised by an independent appraiser cooperating with the Bank, with the appraised value being the smaller of the acquisition and appraised values.
• Statement on restrictions: AMD 10,000,
• Fee for state registration of rights: AMD 26,000–52,000,
• 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.
OTI≤ 60%
Individual/legal entity (by 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,
• Days past due (current and repaid) in the last 12 months must not exceed 30 days
* Foreign currency loans are provided to:
- only non-resident individuals; in addition, co-borrowers must also be non-residents.
**In case of purchasing property (right to purchase) from the "Ord Development" development company in an apartment building under construction at 1 Tigranyan Street, Deadlock 1, Yerevan, the nominal interest rate of the loan is 13%.
*** A prerequisite for granting a mortgage loan for the purchase of a parking space is the availability of a mortgage loan at the Bank for an apartment (right of purchase) at the same address.
! Before signing the agreement, the Organization will provide to you an Individual Key Fact Statement for the mortgage loan, which summarizes essential terms of the loan to be extended to you.
The client receives the offer to sign a contract seven days in advance, and a seven-day cooling-off period.