Mortgage loans for acquisition of apartments in a multistory building at 11/3 Gyurjyan St.


Mortgage loans for acquisition of apartments in a multistory building at 11/3 Gyurjyan St. 

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 50.000 (fifty thousand)

Maximum loan-to-value ratio

Up to 70% of the market value for AMD

Up to 80% of the market value for USD

 

Loan security

Property to be acquired

Loan maturity

 

AMD – 240 months

USD – 180 months

Annual interest rate

 

AMD – 11% (twelve percent)

1-5 year` 9%, then 7% + 6 Monthly LIBOR

Loan repayments

Annuity

Principle and interest repayments

Monthly

Insurance

Mandatory, annually.

In AMD – insurance against accidents in the amount of outstanding loan and property insurance from the appraised market value

In USD – property insurance only in the amount of outstanding loan

Penalty on past-due principle

0.3% daily

Penalty on past-due interest

0.5% daily

Annual interest rate on past-due principle

CBA bank reference rate

Requirements to the credit history of the Borrower and Co-borrowers

Lack of past-due or classified liabilities within 12 months prior to the loan application 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 70.000 minimum and AMD 120.000 maximum

Monitoring

In compliance with the procedure effective at the Bank

 

The actual annual interest rate is calculated as follows:

Suppose a customer is disbursed a mortgage loan of AMD 25.000 000 for apartment acquisition at 156 months’ maturity, 12% annual interest rate and annuity payment.   

Costs incurred by the Customer are:   

Application processing (consideration) fee - AMD 5.000
Collateral appraisal fee - AMD 20.000
Consolidated reference fee - AMD 10.000
Pledge fee - AMD 89.000

Upfront fee (Loan service fee) – AMD 120.000

Insurance – AMD 91.000 of the market value and from outstanding amount

Annual actual interest rate of the given loan will make 12, 99 %

 

 

 

SMS service

terms and conditions

* card expiry

* loan or overdraft maturity upon customer request

* (line of credit) overdraft repayment date and amount drawn from the account  upon customer request   

* annual service fee

* loan or overdraft monthly repayment  upon customer request

 

 

 

    AMD 30.00

 

 

 




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