Mortgage Loans with 10% Down Payment and no Extra Collateral
Evocabank has revised the terms and conditions of mortgage loans to set up a lower portion of down payment.30.10.2018
From now on, loans under Affordable Housing for Young Families and National Mortgage Company will be advanced at 10% down payment; no extra collateral will be neeeded.
For loans under Affordable Housing for Young Families the total age of married couples is increased to reach 70.
Annual interest rate under Affordable Housing for Young Families program is set up as follows:
- 2.8% - in case of puchasing real property in marzes (provinces),
- 4.8% - in case of purchasing an apartment in Yerevan.
Loans under National Morgage Company programs are advanced at the interest rates as follows:
- 10.8% - for purchase or development of real property in Yerevan,
- 9.8% - for purchase or development of real property in marzes.
The loan repayment period under both programs is 15 years max.
As to the mortgage loans funded at the expense of the Bank's own resources, they are advanced with 0% of down payment – in case of pledging extra residential property.