Loans - ԿԱՄՈՒՐՋ վարկային կազմակերպություն

Mortgage / RENOVATION LOANS

Loan Calculator

Mortgages with OWN RESOURCES

5 - 45 million AMD

19% - 20% interest rate

120 - 240 months’ term

Without service fee

If you need money for 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 - 70 years old
Loan amount	5,000,000 - 45,000,000 AMD
Loan/ collateral value ratio	• In case of renovating real estate 60% 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 an additional pledge
Loan repayment	120 - 180 months for real estate renovating/improving 120 - 240 months for real estate obtaining/constructing
Annual interest rate	20% for real estate renovating/improving 19% for real estate obtaining/constructing
Annual actual interest rate	22.05% - 22.49% for real estate renovating/improving 20.84% - 21.28% for real estate obtaining/constructing
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, and reconstructing, if available, more residential real estate collateral too
Additional Security	Guarantee for a 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

Requirements for the Borrower’s Credit History

• At the time of the loan decision, the borrower’s existing credit obligations must not be overdue.

• The total number of overdue days for all loans (repaid and active) over the past 12 months must not exceed 30 calendar days.

Other Conditions

Construction loans are provided in phases, with the final phase not exceeding 20% of the total loan amount.

For construction loans, the loan amount may not exceed 80% of the estimated cost of the construction works.

Loans granted for the acquisition of real estate under construction (including property in an under-construction apartment building) are also provided in phases.

Other Fees

Property insurance – 0.16% of the loan amount

Accident insurance – 0.16% of the loan amount

Notarization – AMD 26,000

State registration of property rights – AMD 72,000

Unified certificate – AMD 10,800

Appraisal – AMD 15,000

For additional residential real estate pledged (per property)

Notarization – AMD 13,000

State registration of property rights – AMD 26,000

Unified certificate – AMD 10,800

Appraisal – AMD 15,000

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