Conditions
Loan purpose
Residential real estate acquisition
Loan type
Mortgage  loan granted for the acquisition of residential real estate within the framework of "Affordable housing for young families " national target program  
Loan amount
from AMD 500.000 up to AMD  17.500.000
Loan currency
AMD
Prepayment
Minimum 30% or minimum 10% if another residential real estate is pledged by the Borrower  in addition to the residential property or apartment  to be acquired
Annual interest rate
In case of up to 50% (including) loan to pledge value  ratio - 8.5 %  In case of 50%-90% loan to pledge value ratio - 9.0%
Subsidized interest rate
In case of acquiring real estate in Yerevan city - 2% In case of acquiring real estate in RA regions  - 4 %
Loan term
from 144 up to 240 months
Redemption frequency
Monthly
Security
Acquired Real Estate (if necessary other residential real estate, which shall be co-borrower՚s property)
Loan to pledge value ratio
Maximum 70% of the liquidation value of the acquired real estate  Maximum 90% of the liquidation value of the acquired real estate in case of another real estate collateral but the loan amount cannot exceed 70% of the liquidation value of the real estate collaterals
Loan Provision
Cash and cashless
Commission fee
AMD 5000 for the study of the loan application which is non-refundable,  Account service fee per month- 0.05% of loan amount but not more than AMD 10.000 per month.
Loan arrangement is realized
“ARMECONOMBANK” OJSC head office and branches. The loan is presented to the competent body if the applicant credited minimum 10% of the assessed liquidation value of the real estate to the account opened with ARMECONOMBANK OJSC. The credited amount is kept in the account as long as the competent body makes a decision on the loan provision or rejection.  
Decision  period
Up to 10 business day (in case of  mortgage the loan is provided within 2 business days following the receipt of collateral registration right)
 
Updated: 13/08/2018 10:06