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Individual loans provided to individuals by products / Terms and Tariffs /

Housing mortgages for non-resident individuals

1.	Loan purpose	The loan is provided for the purchase of residential real estate: apartment, private house, residential house (from the primary and secondary market)
2.	Eligibility	Non-residents aged 18-63 who during the debt service period will not turn 63, or the loan will be shared by a non-resident co-borrower who meets these requirements.
3.	Loan currency	USD, Euro
4.	Loan amount	AMD 2.000.000- AMD 80.000.000 in foreign currency equivalent (USD or Euro)
5.	Loan repayment period	60 - 180 months
6.	Nominal (fixed) interest rates per annum ^[1]	USD	9.2% - 12%
		Euro	8.2% - 11%
7.	Nominal (floating) interest rates per annum ^[2]	USD	Started at 9.2% (fixed component: started at 8.2 %+ variable component)
		Euro	Started at 7.7% (fixed component: started at 7.7 % + variable component)
		The maximum and minimum range of flo10.ating rate fluctuations		+4%
		The variable component of the floating interest rate will be revised on the forthcoming revision date following the expiration of the 36^th month of the loan agreement (for renovation – 12^th month), thereafter, every 6 months with application of the rate (published on the Bank’s website) effective at the moment of revision. You can get acquainted with the procedure for calculating the floating interest rate here.
8.	Penalty for early loan repayment	Not applicable
9.	Penalty charged for late payment of loan principal and/or interest	For past due principal - 0.015% per day, For past due interest - 0.1% per day.
10.	Loan repayment method	Annuity or equal principal repayments; payments should be made on a monthly basis.
11.	Loan security	An apartment or single-family home in Yerevan. Right of first offer – in case of purchasing an apartment from developers cooperating with the Bank. Apart from pledging real property, the borrower may be required to provide a surety bond as well.
12.	Loan-to-value ratio ^[3]	Up to 70% of the appraised value
13.	Insurance	Annual insurance of the real property is required to cover the outstanding loan balance.
14.	Loan disbursement method	Non-cash (the loan amount will be credited to the seller’s account).
15.	Creditworthiness assessment	The borrower should not have sub-standard loans for the past 1 year, nor should the number of overdue days exceed 30.
16.	Other provisions	The Borrower must make a down payment ^[4], which will be frozen in the Bank until the loan is disbursed. In case of purchasing the real property in the primary housing market, as a document confirming the down payment the Borrower can submit the developer’s receipt stating the advance payment and/or advance payment agreements/contracts The Pledger and the Borrower should be the same person. The Customer should indicate the income sources.
17.	Timeframe for making decisions on approving or rejecting the loan application	The decision on approval or rejection of the loan application is made within 10 (ten) business days upon submission of the full package of preliminary documents required by the Bank. The loan is provided to the Borrower in case of the Bank’s positive decision within 2 (two) business days upon completion of the pledging process.

[1] In case the property insurance is executed by the Bank rather than by the customer (is implemented starting the second year of the loan agreement), the mentioned interest rate + 0.2%.

[2] In case the property insurance is executed by the Bank rather than by the customer (is implemented starting the second year of the loan agreement), the mentioned interest rate + 0.2%

[3] In calculation of the Loan-to-Value ratio, we take into consideration the real property appraisal and acquisition value, whichever is less.

[4] At the amount of difference between the acquisition value and loan amount.