Mortgage loans to the citizens of other countries and non-resident RA citizens for the purpose of acquisition of residential real estate


Borrower

Citizen of another country and non-resident RA citizen aged 22 (twenty-two)

Borrower age shall not exceed 55 (fifty-five)

Co-borrower

An individual aged 22 (twenty-two), who is the member of the Borrower family and whose age shall not exceed 55 (fifty-five)

Citizen of another country and non-resident RA citizen may act as co-borrowers

Loan purpose

Acquisition of the residential real estate

Currency

USD

Maximum loan amount

USD 200.000 (two hundred thousand)

Maximum loan-to-value ratio

Up to 70% of the appraised liquidation value, in case the Borrower submits documented income.

Up to 50% of the appraised liquidation value, in case the Borrower fails to submit documented income.

Loan security

Property to be acquired

Maximum loan maturity

Up to 180 months

Annual interest rate

1-5 years - 9% (nine percent), thereafter 7% (seven percent) + 6 (six) monthly LIBOR, if the documented income is considered. 

1-5 years - 12% (twelve percent), thereafter 9% (nine percent) + 6 (six) monthly LIBOR, if the documented income is not considered. 

Loan repayments

Annuity or even amortization

Principle and interest repayments

Monthly

Insurance

Mandatory, every year. Insurance of the property to be acquired 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 and Co-borrowers 

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, if the documented (substantiated) income is submitted.  

Application processing fee

AMD 10.000 (ten thousand)

Loan service fee

Upfront fee in the amount of 0.5% of the loan amount on the loan disbursement date, AMD 80.000 minimum and AMD 200.000 maximum 

Monitoring

In compliance with the procedure effective at the Bank




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