Loans - ԿԱՄՈՒՐՋ վարկային կազմակերպություն

Mortgage / RENOVATION LOANS

Loan Calculator

Renovation loan NEW HOUSE

Up to 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)	RA citizen and RA resident individual (s)
Age limitation	Borrower’s age at the moment of applying minimum 18, maximum 60
Loan amount Standard	Up to 35 mln AMD
Loan amount For Energy Efficient	Up to 45 mln AMD
Loan/ collateral value ratio	• In case of renovating real estate 70% of the market value • In case of pledge of acquired real estate maximum 70% of the estimated market value of the acquired real estate • In case of pledge of acquired and additional real estates maximum 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 loan in case of difference estimated acquisition and market values is based on minimum for loan/collateral value ratio • 70% of the estimated market total amounts of under construction and additional real estates
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 and 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	Free of charge
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.

Necessary requirements for Borrower’s Credit history

• Loan obligations should not be overdue at the moment of loan granting decision

• The number of overdue days for the last 12 months (repaid and acting) must not exceed 30 days of the schedule.

Insurance

a) The real estate insurance with appraised marked value in accordance with the tariffs and UFPC (Unit for financing of the programmatic credits) requirements established by the companies cooperating with the Company.

b) Insurance against accidents for the Borrower and co-borrowers (if any) within the rest amount of the loan in accordance with the tariffs and UFPC (Unit for financing of the programmatic credits) requirements established by the companies cooperating with the Company.

The creditor covers the insurance expenses according to the tariffs of insurance companies.

“KAMURJ” UCO CJSC acts as a beneficiary.

Penalty payment

If the borrower does not perform his loan repayment liabilities in time, or does it partially (according to the agreement between the Creditor and the Borrower), the borrower is obliged to pay fines to the creditor. Starting from the default day 0,2 percent of the overdue amount will be calculated for each day as a penalty.

If the borrower does not perform his loan interest rate payment liabilities in time, or does it partially (according to the agreement between the Creditor and the Borrower), the borrower is obliged to pay fines to the creditor. Starting from the default day 0,3 percent of the overdue interest amount will be calculated for each day as a penalty.

List of necessary documents

R equired documents in case of building

Required documents in case of renovation

R equired documents in case of obtaining

ATTENTION: If you do not perform your whole liabilities within 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.