Mortgade


Terms and conditions of mortgage loans disbursed for the purpose of acquiring apartments directly from a construction company 

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

USD

Maximum loan amount

USD 150.000 (one hundred and fifty thousand)

Maximum loan-to-value ratio

Up to 70% of the market value

Loan security

Property to be acquired

Stage of completion of collateral

80-100%

Loan maturity

Up to 180 months

Annual interest rate

1-5 years  10% (ten percent), thereafter 8% + 6 (six) monthly LIBOR

Down payment

  1. To the AMD account opened in the name of buyer in the bank
  2. Reference on down payment from the construction company  shall be submitted

Loan repayments

Annuity, equal amortization

Principle and interest repayments

Monthly

Insurance

Mandatory, annually.
Property insurance only in the amount of outstanding loan

Penalty on past-due principle

0.1% daily

Penalty on past-due interest

0.2% 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 

Loan processing fee

AMD 10.000 (ten thousand)

Monitoring

In compliance with the procedure effective at the Bank 

Loan processing fee

1% of the loan amount, at least AMD 30,000 and maximum AMD 100,000




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