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

Renovation loans / within the framework of the programs of the National Mortgage Company, Jerm Ojakh (“Warm House”)


Loan purpose

Energy efficient renovation of residential real property.



RA residents aged 18– 63 who earn their income primarily in Armenia and who during the loan period will not turn 63 or the loan will be shared by a co-borrower who meets these requirements.


Location of the real property

Entire territory of Armenia, except the Kentron community of Yerevan


Loan currency



Loan amount

AMD 275,000 – AMD 3,000,000


Loan repayment period

60 - 84 months


Nominal interest rate per annum



Penalty for late payment of interest and principal amount

For past due principal amount - 0,015 % per day,

For past due interest amount  - 0,1 % per day.


Loan repayment method

«Annuity» or «Flexible»

A 6-month grace period may be granted with monthly interest payment only.


Loan security

Surety of third party(parties) (if appropriate)



  • Insurance of the pledged real property covering at least the loan amount.
  • In case of acquisition of solar panels: insurance of solar panels  to cover the cost of solar panel purchasing.


Other conditions

  • Under the Program, a single unit of real property may be renovated several times using the loan facility amounts, if various repair measures are to be carried out.


Preconditions for loan approval

At least 40% of the loan amount must be used for energy-efficient improvement of the residential property and purchase of relevant materials/accessories, including up to 20% of the loan amount may be used for purchasing energy-efficient household appliances (the list of energy-efficient materials/accessories acceptable for the Program and their mandatory amounts are set forth in Practical Manual developed for the Program). At least 80% of all the measures must be justified by documents supporting the relevant payments. 100% of energy-efficient measures must be supported by documents confirming the relevant payments.


Timeline for making decision on  loan application approval or rejection

  • The decision on approving or declining the loan application will be made within 10 (Ten) business days upon submission of the entire package of required preliminary documents,
  • The loan will be provided within 2 (two) business days after the approval of the loan application.