State program for displaced people from Artsakh

Under the “State support program for providing access to affordable housing to families displaced from certain regions of the Republic of Artsakh”, the Company is offering the following loan products to purchase an apartment or single-family house or to construct a single-family house with the following conditions.

State program for displaced people from Artsakh

State program for displaced people from Artsakh

Under the “State support program for providing access to affordable housing to families displaced from certain regions of the Republic of Artsakh”, the Company is offering the following loan products to purchase an apartment or single-family house or to construct a single-family house with the following conditions.

Beneficiaries

Persons defined by Article 4 of Government decision N 169-L dating February 17, 2022

Loan amount

  • Maximum AMD 35 million in case of standard loans,
  • Maximum AMD 45 million in case of energy efficiency loans (Im Taniq loan product)

Loan term

Minimum of 10 years

OTI*

Maximum of 45%

Annual interest rate

Defined by PFIs․ On average, it is 10.00%

Interest rate type

Fixed

Loan currency

AMD

Insurance

  • Pledged property insurance, whose coverage must be at least equal to the loan amount exceeding the State support amount.
  • Insurance that will pay the mortgage loan if the borrower dies from a casualty. The coverage must be at least equal to the loan amount exceeding the State support amount.

Down payment

  • In Yerevan, minimum 10%
  • In RA regions, minimum 2.5%
  • In RA border settlements, minimum 1%****

Collateral

  • In case of purchase of a house, property to be purchased,
  • In case of single family house construction, land or the building under construction.

*OTI calculation includes monthly payments of all the loans that a borrower has, including the mortgage loan.

**The Company does not pay and under any circumstances has no obligation to pay either interest rate or principal support amount to beneficiaries from its own resources. It is the obligation of the State to do so.

*** If the loan amount does not exceed the State support amount, no insurance is required.

****Down payment is set at 1% also in cases where the beneficiary has at least 4 minor children or all family members included in the certificate are over 65 years old.