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"National Mortgage Company" Program

"National Mortgage Company" Program

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Through ARARATBANK mortgage lending you can acquire the apartment you want provided that either you or co-borrower is at least 20 years. It is to be recalled that mortgage loans in AMD shall be disbursed from the funds of the National Mortgage Company RCO CJSC

  • Currency

    AMD

  • Minimum amount

    AMD 2000000

  • Maximum amount

    AMD 25,000,000

  • Maturity

    60-240 months

Conditions

Please follow the Armenian version

Required documents

Please follow the Armenian version

Useful information
  • The annual actual interest rate shows how much the loan will cost the customer for interest and other payments in the defined terms and amounts. You can get acquainted with the annual actual interest rate calculation here.
  • After the authorized body has made a loan decision, the borrower shall be notified about it within one day. After the loan disbursement decision has been made, the required documents shall be collected and the loan shall be disbursed within 15 days. If the loan is not disbursed within the mentioned period, the decision made by the authorized body shall be deemed as void and shall be submitted to the authorized body for a second consideration, in case the loan application is subject 

The loan application will be approved if:

  1. the customer has submitted the complete package of documentation and the loan application.
  2. the query made to “ACRA Credit Reporting” credit bureau shows that the potential borrower and/or co-borrower and/or potential guarantor did not have classified liabilities and/or on the whole were not at least 30 days past due within the past 24 months prior to the query.
  3. the ratio of monthly loan repayments, monthly insurance fees of the borrower’s and co- borrower's property and other long-term monthly expenses of the borrower/co-borrower and guarantor to the net income of the borrower/co-borrower and guarantor does not exceed 45 (forty-five) percent.
  4. the appraised value of the Collateral or Collaterals meets the requirements.
  5. both the borrower’s, co-borrowers’ and guarantor’s revenues meet the requirements.
  6. the body authorized to take loan decisions within the Bank approved the loan application.

 

The loan application will be rejected if:

  1. the customer fails to submit all documents necessary for getting the loan.
  2. the query made to “ACRA Credit Reporting” credit bureau shows that the potential borrower/co-borrower and/or potential guarantor had classified liabilities and/or on the whole were at least 30 days past due within past 24 months prior to the query.
  3. the appraised value of the Collateral or Collaterals is insufficient.
  4. both the borrower/co-borrower and/or guarantor revenues are insufficient.
  5. the borrower/co-borrower and/or guarantor submit false documents and/or information.
  6. the rejection base of loan application is available in the loan historical database, which is not removed.
  7. the body authorized to take loan decisions rejected the loan application.
  8. the loan has been approved, but the customer has failed to present himself/herself within 15 days after approval or has failed to present the necessary documents.
Attention

Please follow the Armenian version

Loan amount

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Annual interest rate

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Financial assistant
ABC finance

Page updated 14.10.2019 | 16:34

In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.