Mortgage / RENOVATION LOANS

Loan Calculator










Annuity Reducing

AFFORDABLE HOUSING FOR YOUNG FAMILY

1,000,000 - 27,750,000 AMD

From 4% to 7.5% -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 - 8% 

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 

4.2% - 7.96%

Loan disbursement fee 

0.8% lump sum of loan amount

Minimum  30,000 AMD 

Monthly service fee

No charge

Loan application review fee

5,000 AMD

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

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. 

 

 

 

Loan / Collateral value ratio

 

In case of real estate

 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


 

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.  

c) 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. 

 

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
 

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.