Mortgage loans for acquisition of apartments at 130/2 Verin Antarayin Street


Borrower

 

RA citizen and resident individual aged 20 (twenty)

Borrower age shall not exceed 55 (fifty-five)

Co-borrower

RA citizen and resident individual aged 20 (twenty), who is the member of the Borrower family and whose age shall not exceed 55 (fifty-five) 

Loan purpose

Apartment acquisition

Currency

AMD

USD

Maximum loan amount

AMD 25.000.000 (twenty-five million)

USD 350.000 (three hundred and fifty thousand)

Maximum loan-to-value ratio

AMD - up to 70% of the market value.

USD - up to 80% of the market value. If the customer pledges one more real estate in Yerevan, thus, depending on the results of appraisal of additional property, the Borrower may be disbursed a loan of up to 100%.

Loan security

Property to be acquired, as well as additional property, if available. 

Maximum loan maturity

AMD –  up to 240 months

USD –  up to 180 months

Annual interest rate 

AMD – 10.5%

USD – 8.8%

Loan repayments

AMD –  annuity

USD –  annuity or even amortization of the principle 

Principle and interest repayments

Monthly

Insurance

Mandatory, every year.

For AMD loans – insurance against accidents and insurance of the property to be acquired against the loan outstanding amount.

For USD loans –insurance of the property to be acquired only against the loan outstanding amount.

Penalty on past-due principle 

0.1% daily

Penalty on past-due interest

0.2% daily

Annual interest rate on past-due principle  

Interest rate provided for by agreement continues to be in effect 

Requirements to the credit history of the Borrower, Co-borrowers and Guarantors if any 

Lack of past-due or classified liabilities within 12 months prior to the loan application (except for repaid guarantees) as well as the total of past-due liabilities shall not exceed 30 days                           

Credit rating

In compliance with the Procedure on Mortgage Lending.

Application processing fee

AMD 5.000 (five thousand)

Loan service fee

Upfront fee in the amount of 0.5% of the loan amount on the loan disbursement date, AMD 50.000 minimum and AMD 100.000 maximum  

Monitoring

In compliance with the procedure effective at the Bank




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