4 - 45 million AMD
12.5% - 14 interest rate
5 - 20 years term
Without service fee
If you need money for habitual real estate
• obtaining
• reconstructing
• renovating / improvement
and you can mortgage renovated, purchased real estate or land which is the destination of building real estate then “KAMURJ” UCO offers you credit wit following condition.
Loan granting conditions
| INDICATOR |
CONDITIONS
|
|
Borrower (s)
|
Citizens and residents of the Republic of Armenia
|
|
Age limitation
|
18 - 60 years old
|
|
Loan amount Standard
|
4,000,000 - 35,000,000 AMD
|
|
Loan amount For Energy Efficient
|
5,000,000 - 45,000,000 AMD
In the case of renovation and improvement of residential real estate, the maximum amount is 35,000,000 AMD
|
|
Loan/ collateral value ratio
|
• In the case of renovating real estate 70% of the market value
• In case of a pledge of acquired real estate maximum of 70% of the estimated market value of the acquired real estate
• In case of pledge of acquired and additional real estate maximum of 70% of the market total amount, but not more than 90% of the estimated market valuated of the acquired real estate
• In case of obtaining a loan in case of difference estimated acquisition and market values are based on the minimum loan/collateral value ratio
• 70% of the estimated market total amounts of under construction and additional real estate
|
|
Down payment
|
Minimum 30% of obtaining real estate price in case of real estate pledge
Minimum 10% of obtaining real estate price in case of obtaining an additional pledge
|
|
Loan repayment
|
5 - 15 years ( for real estate renovating/improving)
10 - 20 years (for real estate obtaining/constructing)
|
|
Annual interest rate Standard
|
13% (for real estate obtaining/constructing)
14% ( for real estate renovating/improving)
|
|
Annual interest rate For Energy Efficient
|
12.5% (for real estate obtaining/constructing)
13.5% ( for real estate renovating/improving)
|
|
Annual actual interest rate
|
13.24% - 14.93%
|
|
Loan servicing monthly fee
|
Not specified
|
|
Payment mode
|
• Annuity (equal monthly payments)
• Equal monthly payments of the loan amount
|
|
Lending territory
|
Territory of RA
|
|
Applicable penalties
|
Overdue loan amount and overdue interest rates 0.12% per day (maximum 90 calendar days)
|
|
Basic Security
|
Renovating, improving, obtaining, reconstructing if available more residential real estate collateral too
|
|
Additional Security
|
Guarantee for Legal entity and/or individual, pledge of moveable property
|
|
Maximum length of decision-making
|
Within 7 days after presentation of all the required documents
|
| Maximum length of loan granting |
Аfter the state registration and submission of the pledge right: 2 working days |
The program is implemented by the “National Mortgage Company” UCO CJSC funding.
List of necessary documents
• List of documents required to obtain a loan for real estate acquisition
• List of documents required when purchasing real estate directly from the developer
• List of documents required to obtain a loan for real estate renovation/improvement
• List of documents required to obtain a loan for real estate construction
ATTENTION: If you do not perform your whole liabilities within the prescribed time, the information about you will be recorded in the Credit Register of the Central Bank of Armenia by the creditor.
WARNING: Your assets (house, car, etc.) may be confiscated if you do not make payments of interest and credit amount within the prescribed time, as well as other regulations specified in the agreement between you and the “KAMURJ” company.
Prices of additional services
