1,000,000 - 27,750,000 AMD
5.5% - 9.5% interest rate
120 - 180 months term
FREE OF SERVICE CHARGE
If you need finance for your family
• To purchase apartment or residential house
and you fulfill following conditions
• 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
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Indicators
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Limits
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Borrower (s)
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RA citizen and RA resident individuals
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Loan amount
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1,000,000 - 27,750,000 AMD
|
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Loan Maturity
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120 - 180 months
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Annual interest rate
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• Primary market - 7.5%
• Secondary market - 9.5%
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Annual interest rate subsidy
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• Primary market - Is not foreseeable
• 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
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Annual actual interest rate
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• Primary market
7.90% - 9.60%
• Secondary market
7.91% - 9.55% in Yerevan
5.77% - 7.28% in the regions of Armenia
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Monthly service fee
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Not specified
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Withdrawal fee
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Only non-cash
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Loan repayment
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• Annuity (equal monthly payments)
• Equal monthly payments of the loan amount
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Down payment
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• 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
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Lending territory
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Territory of RA
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Applicable penalties
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Overdue loan amount and overdue interest rates 0.12% per day (maximum 90 calendar days)
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Loan safety
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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
• 80% of the appraised market value / acquisition cost of the real estate property(ies).
• In case of pledging acquired and additional real estate (or mortgage obligation insurance), 92.5% of the appraised market value / acquisition cost of the acquired real estate.
• For acquisition loans, where there is a difference between the appraised market value and the acquisition cost, the lower value shall be used as the basis for the loan-to-collateral ratio.
Secondary market
• 70% of the appraised market value / acquisition cost of the real estate property(ies).
• In case of pledging acquired and additional real estate (or mortgage obligation insurance), 90% of the appraised market value / acquisition cost of the acquired real estate.
• For acquisition loans, where there is a difference between the appraised market value and the acquisition cost, the lower value shall be used as the basis for the loan-to-collateral ratio.
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Other conditions
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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.
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
List of necessary documents
List of documents required to obtain a loan for real estate acquisition
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
