1,000,000 - 27,750,000 AMD
From 5.5% to 9.5% -interest rate
10-15 years’ term
FREE OF SERVICE CHARGE
If you need finance for your family
• To purchase apartment or residential house
and you fulfill following conditions
• Young family, where each of the partners is at least at the age of 20-35 (inclusively) and RA citizen
• Your accumulative age as married couple does not exceed 65 or
• You are at least at the age of 20-30 (inclusively) both RA citizen and RA resident single parent
then “KAMURJ” UCO offers you loan with following conditions
Loan granting conditions
Indicators
|
Limits
|
Borrower (s)
|
RA citizen and RA resident individuals
|
Loan amount
|
1,000,000 - 27,750,000 AMD
|
Loan Maturity
|
10-15 years
|
Annual interest rate
|
• Primary market - 7.5% • Secondary market - 9.5%
|
Annual interest rate subsidy
|
• Primary market - Is not forseen
• Secondary market -
2% - in case of acquiring a real estate in Yerevan
4% - in case of purchasing a real estate in the regions of Armenia
|
Annual actual interest rate
|
6.7% - 9.93%
|
Monthly service fee
|
No charge
|
Withdrawal fee
|
Only non - cash
|
Loan repayment
|
• Annuity (equal monthly payments)
• Equal monthly payments of loan amount
|
Down payment
|
• Primary market - Minimum 20% of real estate purchase value
In case of pledge of the acquired and additional real estate, at least 7.5% of the purchase price of real estate
• Secondary market - Minimum 30% of real estate purchase value
In case of pledge of the acquired and additional real estate, at least 10% of the purchase price of the real estate
|
Lending territory
|
Territory of RA
|
Applicable penalties
|
Overdue loan amount and overdue interest rates 0.12% per day (maximum 90 calendar days)
|
Loan safety
|
Loan security is the purchased real estate which is considered as collateral. |
Additional Security |
Guarantee for Legal entity and/or individual, pledge of moveable property |
Loan/Collateral value ratio |
Primary market
• In case of pledge of acquired real estate maximum 80% of the estimated market value of the acquired real estate
• In case of pledge of acquired and additional real estate maximum 80% of the market total amount, but not more than 92.5% of the assessed market value of the acquired real estate
Secondary market • 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 estate maximum 70% of the market total amount, but not more than 90% of the assessed market value of the acquired real estate
|
Other conditions
|
Primary market
• The purchase price of the property acquired from the primary market can be up to 30,000,000 AMD and according to the information published by the State Committee of Real Estate Cadastre of Armenia, up to 31,000,000 AMD
Secondary market
• The purchase price of the property acquired from the secondary market can be up to 25,000,000 AMD and according to the information published by the State Committee of Real Estate Cadastre of Armenia, up to 26,000,000 AMD
|
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 in the cooperation with “Home for Youth” UCO CJSC.
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
• 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.
• 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.
• Mortgage liability (in the amount of a down payment) insurance (if any) less paid amount of a down payment in accordance with the tariffs set by the Company's affiliated entities and the UFPC (Unit for financing of the programmatic credits) requirements.
The creditor covers the insurance expenses according to the tariffs of insurance companies.
“KAMURJ” UCO CJSC acts as a beneficiary.
List of necessary documents
List of necessary documents
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.