Reduced Interest Rates and Down Payments on Mortgages
Effective August 1, 2018 Evocabank will start extending mortgage loans on more attractive terms which is a result of the recent revision of the bank's lending terms and conditions.31.07.2018
For AMD-denominated mortgages under National Mortgage Company Program:
- In case of purchase and development -10.8% compared to the previous 12%,
- Renovation- 11.8% compared to the previous 13%.
For AMD-denominated mortgages under Housing for Yound Families program:
- 6.8% compared to the previous 8%, of which 2% is subsidized in Yerevan and 4% - in marzes.
For mortgages to be extended from the Bank's own resources:
- Euro-denominated mortgage loans - 7%-10% compared to the previous 8%-10%;
- Minimum down payment:
- Purchases on the primary market- starting 10%
- Purchases on the secondary market - starting 15%
- Pledging extra real property - starting 0%.
New lending terms and conditions apply for the loan applications filed after August 1, 2018.