Mortgage / RENOVATION LOANS
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Loan Calculator
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Renovation loan NEW HOUSE2 - 45 million AMD 12.5% - 14% interest rate 120 - 240 months term Without a service fee
If you need money for habitual real estate • obtaining 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
The program is implemented by the “National Mortgage Company” UCO CJSC funding. 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. Insurance Property insurance, accident insurance for the borrower/co-borrowers, and, if necessary, advance payment insurance, in accordance with the tariffs set by the Company’s partner organizations and the CBA requirements. 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 Other Conditions • Construction loans are provided in phases, with the last phase not exceeding 20% of the loan amount. • For construction loans, within one month after the last phase, the borrower must ensure the installation of the roof, exterior doors, and windows of the under-construction property. • Construction works must be fully completed within one year after the disbursement of the last loan phase. • The loan amount for construction loans cannot exceed 80% of the preliminary estimate for the construction works. • Construction loans are not eligible for refinancing if the land plot’s designated use has been changed in the past year. • Under this program, co-borrowers may only be family members. • For acquisition loans under this program, ownership may only be held by members of the same family. • For acquisition loans, the maximum property acquisition value is AMD 55,000,000. • For construction loans under this program, at least one owner of the property under construction must be the Borrower or Co-borrower.
Energy Efficiency (EE) Requirements
• Acquisition loans – EE certificate issued by an organization accepted by the CBA, confirming that the building’s EE class is at least B, or that the building is thermally insulated with installed exterior doors and windows. • Renovation loans – total costs of energy efficiency measures must be at least 30% of the total. The share of household appliances cannot exceed 10% of the total loan amount. All EE measures included in the preliminary renovation estimate, as well as minimum requirements for household appliances, must comply with the minimum technical requirements set by the CBA’s Residential Loan Refinancing Regulation. • Construction “Green” mortgage loans – walls, roof insulation, windows and glassed areas, and exterior doors of the under-construction residential building must comply with the Green Standards. Compliance with at least three of these criteria qualifies the loan as an EE construction loan. • For residential EE renovation and EE construction loans, a completed EE assessment tool must be submitted. • If total energy efficiency costs are 90% or more, the loan qualifies as a Green renovation mortgage loan, provided that household appliances and heating systems are not financed in the preliminary estimate.
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
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