Global Credit

Home for Youth

State program

 

  Primary market Secondary market
Customer 18 – 35 (including) citizen of RA or non citizen of RA whose spouse is a citizen of RA 
Co-customer Borrower's spouse and each of their family members (family members include the spouse, the borrower's and her spouse's parents, sisters, and brothers)
Loan currency AMD
Loan interest rate 7.5% Yerevan - 7.5% (2% subsidized)` 5.5% 
regions of RA - 8.5% (4% subsidized)` 4.5%
*Annual factual interest rate 5.29% - 9.6% 5.29% - 9.6%
Young family a family where at least one spouse is young, the spouse's total age does not exceed 70 years, or a single parent with a child not older than 35 (included)
Loan aim Acquisition of existing or under construction residential real estate for permanent residence Acquisition of existing (80% more complete) residential real estate for permanent residence
Loan period 120 - 240 months
Loan minimal amount 2,000,000 AMD 2,000,000 AMD
Loan maximum amount 1. 27.5 mln AMD but not mote than 80% of purchased residental real eastate in Yerevan and other regions of RA 1. 22.5 mln AMD but not mote than 70% of purchased residental real eastate in Yerevan and other regions of RA
2. 27.5 mln AMD but not mote than 92.5% of purchased residental real eastate in Yerevan and other regions of RA if satisfied following requirements. 2. 22.5 mln AMD but not mote than 92.5% of purchased residental real eastate in Yerevan and other regions of RA if satisfied at least following requirements
a) In addition to the mortgage of the acquired house or apartment, which is a means of securing the loan, the mortgaged other residential real estate is also pledged, moreover, in case of mortgaging other acquired real estate, the loan amount may not exceed 80% of the total value of the pledged real estate. a) In addition to the mortgage of the acquired house or apartment, which is a means of securing the loan, the mortgaged other residential real estate is also pledged, moreover, in case of mortgaging other acquired real estate, the loan amount may not exceed 70% of the total value of the pledged real estate.
b) In addition to the mortgage of the house or apartment to be purchased as collateral for the loan provided, the borrower shall provide a guarantee from the legal entities occupying the list of 1 to 300 large taxpayers of the Republic of Armenia. b) In addition to the mortgage of the house or apartment to be purchased as collateral for the loan provided, the borrower shall provide a guarantee from the legal entities occupying the list of 1 to 300 large taxpayers of the Republic of Armenia.
c)There is a mortgage liability insurance of 20% of the value of the house or apartment to be purchased, with a difference of 7.5% or more of the down payment made by the borrower [2]. c) There is a mortgage liability insurance of 30% of the value of the house or apartment to be purchased, with a difference of 10% or more of the down payment made by the borrower.
Lending type One time or phased. At the same time, the last stage of the stage loan must be provided in case the real estate has an 80% completion rate. one time
Loan repayment Fully repayable annuity or principal loan with equal repayments Fully repayable annuity or principal loan with equal repayments
Loan security  Pledge of purchased real estate Pledge of purchased real estate
Loan/pledge amount  maximum 80% /92.5%/ maximum 70% /90%/
Early repayment penalty in case of early repayment in the amount of 0.6% of each early repayable amount
Penalty accrued on overdue loan principal, unpaid for each day 0.13% daily
Overdue interest, penalty for each day not paid 0.13% daily
Provision of loan amount after receiving the state registration certificate of the mortgage right pledge maximum in 3 days
Decision making in 3 days after submission of necessary documents
Loan application in 7 days after submission of required documents
Required documents

loan application

Passport and social card with its copy (2 copies), youth birth certificates 

Certificate of residence

References on income (defined reference from the place of salary, other references, etc., which certify the amount of income)

Identity documents of family members with their copies

Marriage / divorce certificate with its copy in 2 copies (if available)

 

Copy of workbook (if available)

 

Copy of employment contract

 

Identity documents of other residential real estate owners with their copy in 2 copies (if available)
Copy of the document certifying the ownership of residential real estate - 2 copies (ownership certificate, etc.)
Copy of the basis for acquiring ownership of residential real estate (decision, contract, etc.)
Reference on Registered Restrictions on Real Estate (Joint Reference)
Bank account

*The actual annual interest rate shows how much the loan will cost you if you make interest payments և other payments on time և. You can get acquainted with the procedure of calculating the annual annual interest rate on the following page.

Information summary

You can get acquainted with the "Financial Assistant" system at the following link: www.fininfo.am

 

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Updated:19/03/2021 16:05:19