Loan Calculator

Annuity Reducing

Energy Efficient Housing Loan

2-35 million AMD

9%-10% - interest rate

5-20 years’ term

Without a service fee


If you need money for Energy Efficient (EE) residential real estate

      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 with the following conditions.


Loan granting 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

For Energy Efficient residential real estate renovation/improvement from 5-35 mln AMD
For Energy Efficient residential real estate obtaining/construction from 3-35 mln AMD

Loan/ collateral value ratio 

 In case of renovating, 70% of the  estimated market value

In case of pledging the acquired real estate, maximum 70% of the estimated  market/acquisition  value of the obtaining  real estate

In case of purchasing loan and in case of difference between the estimated market and acquisition values, the basis  taken for loan/collateral value ratio, is  the minimum base.

In case of reconstructing and additional real estate, 70% of the total  estimated market values.

Down payment 

Minimum 30% of obtaining real estate price in case of real estate pledge

Loan repayment

5 - 15 years  ( for EE residential real estate renovating/improving)

10 - 20 years  (for EE residential real estate obtaining/constructing)

Grace period

Up to 12 months grace period after providing the loan. If a borrower’s income derives from the agriculture, the loan repayments (principal repayment of the loan) can be tailored to the borrower’s cash flows (to seasonal income). Furthermore, the number of the repayments should not be less than 4 times a year. In all cases, monthly interest payment is mandatory

Annual interest rate

9% (for EE residential real estate obtaining/constructing)

10% ( for EE residential real estate renovating/improving)

Annual actual interest rate

9.5% - 10.85%

Granting fee

Lump Sum 0.8% of loan amount  

(Minimum 30,000 AMD)

Loan servicing monthly fee

Free of charge 

Loan application review fee

5,000 AMD

Cash withdrawal fee

0.20%, excluding the acquisition of real estate loans which is provided only by non-cash

Payment mode

 Annuity (equal monthly payments)

 Equal monthly payments of loan amount

Applicable penalties Overdue loan amount and overdue interest rates 0.12 per day (maximum 90 calendar days)

Lending territory 

Territory of RA 

Basic Security

Renovating, improving, obtaining, reconstructing residential real estate pledge. In case of loans for reconstruction, the pledge of another residential real estate is considered as an additional.

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.


Those customers who applied to other financial organizations for credit and  their loan request has been rejected, or Customer’s incomes (its structure) are at risk, or there is a negative/ neutral credit history, but the risks, mentioned above, are weighted by the Company, and a positive decision is made on the loan, the loan interest rate can be set to 1 (one) percentage point higher.

The peculiarities of the loans provided in the regions are represented in the conditions of Regional Housing Loan

Other Conditions


Credits, provided for the reconstruction, are given in a phased manner, moreover, the latest phase of which must be no more than 20% of the loan amount.


The amount of the loan, in case of loans for reconstruction, may not exceed 80% of the budget amount of the execution of reconstruction works.




The peculiarities of the loans granted for the purpose of EE renovating/improving of the residential real estate.


  • At least 40% of the loan, granted for the EE improvement of the house/ apartment, should be used for the purpose of EE improvement of the house or apartment and for the replacement of the old household appliances (acquisition of the new ones), (other costs having no direct connection but associated with the Energy Efficiency, may be included in the EE calculation of cost increase efficiency up to 15% of the total loan amount). Moreover, the mentioned amount can not be used only for the purchase of household appliances.

  • Energy Efficient improvement includes the replacement of old windows, door and heating system with a new one, insulation of external walls, roof and floor (if the lower area is not residential), installation of electricity power generating devices including solar water heaters and solar photovoltaic panels.

  • The list of household appliances, which can be replaced (achieved) by the loan, includes a refrigerator, washing machine (including dishwasher), boiler, an air conditioner, Led lamps all matching the high standards of Energy Efficiency.



The peculiarities of the loans provided for the purpose of purchasing an EE residential real estate.




The peculiarities of the loans provided for the purpose of reconstructing an EE residential real estate.



        Reckoning of costs for  EE Apartment/ House renovation


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.




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)     The additional mortgage is insured when required

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


“KAMURJ” UCO CJSC acts as a beneficiary. 

List of necessary documents 

Required documents in case of building

Required documents in case of renovation

Required documents in case of obtaining


Actual Annual Interest Rate


ATTENTION: Annual real rate shows how much the loan will cost to you after paying the interest rate and other payments in defined deadlines and amounts. You can find the calculation order of annual real interest rate in the following address 8/01.


ATTENTION: The lender provides the information about the borrower’s obligations to the Credit Registry of the Central Bank of Armenia.


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.