Terms
tariffs
Buy, build and renovate your apartment with Fast Bank
"National Mortgage Company"
"Affordable Housing for Young Families"
The Bank's internal resources
Acquisition of residential real estate in the Republic of Armenia – apartment, individual residential house (from the primary and secondary markets)
Acquisition of residential real estate in the Republic of Armenia
Acquisition of residential real estate in the Republic of Armenia – apartment, individual residential house (from the primary and secondary markets)
Beneficiary of the state housing program for families displaced from certain regions of the Republic of Artsakh
AMD
120 months
Starting from AMD 2.000.000
Up to AMD 35,000,000
Up to AMD 22,500,000.00
Up to AMD 35,000,000
The minimum amount of the down payment to be made is at least the smaller of the estimated and acquisition values of residential real estate purchased from the primary and secondary markets:
•10 percent in Yerevan
•2.5 percent in the regions of RA
•1 percent if the assistance is provided for the purchase of residential real estate with a mortgage loan in a rural settlement included in the list of settlements of border communities receiving social assistance, approved by Appendix No. 1 to the Decision of the Government of the Republic of Armenia No. 1444-N of 18 December 2014, or if the beneficiary has at least 4 minor children or all family members included in the certificate have attained the age of 65
10%*
• In the case of purchasing real estate in a border settlement of the Republic of Armenia, or purchasing an apartment in a multi-apartment residential building in the primary market in Syunik and Vayots Dzor regions with a mortgage loan, the loan interest rate and the amount of interest rate subsidy are 13%.
• The interest rate and interest rate subsidy for the purchase of residential real estate in a separate rural settlement of the Republic of Armenia included in the list approved by Appendix No. 2 to the RA Government Decision No. 169-Լ of 17.02.2022, is 12%.
10%
13%
10,7%-13,7%
(Subsidized amounts are not included in the calculation)
For principal repayment
For interest repayment
up to AMD 113,000 per month, but not more than a total of AMD 8,000,000
up to AMD 63,000 per month, but not more than a total of AMD 3,648,000
For principal repayment
For interest repayment
For interest repayment
With the bank's internal resources
up to AMD 153,000 per month, but not more than the total of 10,000,000
up to AMD 98,000 per month, but not more than the total of AMD 5,850,000
up to AMD 168,000 per month, but not more than the total of AMD 7,925,000
For principal repayment
For interest repayment
For interest repayment
With the bank's internal resources
up to AMD 200,000 per month, but not more than the total of AMD 12,000,000
up to AMD 140,000 per month, but not more than the total of AMD 8,660,000
up to AMD 202,000 per month, but not more than the total of AMD 9,505,000
For principal repayment
For interest repayment
For interest repayment
With the bank's internal resources
up to AMD 242,000 per month, but not more than the total of AMD 14,000,000
up to AMD 177,000 per month, but not more than the total of AMD 11,085,000
up to AMD 177,000 per month, but not more than the total of AMD 11,085,000
For principal repayment
For interest repayment
For interest repayment
With the bank's internal resources
up to AMD 277,000 per month, but not more than the total of AMD 16,000,000
up to AMD 207,000 per month, but not more than the total of AMD 12,668,000
up to AMD 207,000 per month, but not more than the total of AMD 12,668,000
Monthly assistance limits (principal and interest) do not apply to the first month's scheduled payments.
The state registration fees for property rights as defined in Article 73 of the RA Law "On State Registration of Rights to Property" and the RA Law "On State Duty" are also reimbursed: property rights registration fee: AMD 25,000, and AMD 20,000 state duty, state registration fee for pledge rights: AMD 25,000, and AMD 1,000 AMD state duty.
For state registration of rights to real estate located in border settlements, the fees established by the aforementioned laws are charged at a rate of 50%.
None
None
Not defined
0.1% daily
0.13 % daily
Real estate to be acquired, the right to purchase real estate, and, if necessary, additional residential real estate.
The collateral is subject to appraisal by an independent property valuation agency cooperating with Fast Bank CJSC.
Up to 99%
Up to 90% of the real estate value in Yerevan
Up to 97.5 % of the real estate value in RA regions
- In border settlements - up to 99% of the real estate value (*Border settlements - According to Government Decision No. 1444-Ն from 2014 (Appendix 1.)), and in the case of loans where the beneficiary has at least 4 minor children or all family members included in the certificate are over 65 years old.
- Insurance of the pledged property
Accidental death insurance certificates of the borrower and co-borrowers.
*In the amount of the remaining loan amount (the amount of assistance to be provided by the state is not included in the calculation of the remaining loan amount)
- No insurance is provided in case of loans with the bank's internal resources.
A family (including one person) residing in certain regions of the Republic of Artsakh as of September 27, 2020 or registered in the Republic of Artsakh, having actually resided there for at least the last three months or having actually resided there for the last three years and displaced as a result of the war unleashed by Azerbaijan on September 27, 2020, including a child born in the family after September 27, 2020, with the exception of families (persons) who were sent to the Republic of Artsakh within the framework of any program before September 27, 2020 and have resided there for the last three months. The mandatory residence requirement applies to at least one family member. Absent family members are considered beneficiaries and are included in the family if their absence is due to treatment or study, or military service in the Armed Forces of the Republic of Armenia and other troops, or serving a sentence of imprisonment.
Grandchildren were born in the family, as well as any person who actually (permanently) resided in the family during the specified period (civil spouses, stepchildren, etc.).
The ownership right to the acquired residential real estate is registered in the name of all members of the beneficiary family who have citizenship of the Republic of Armenia (except for children and co-borrowers who are not family members).
At the time of applying for the loan, the borrower/co-borrowers must not have any overdue or existing credit obligations classified as more stringent than "standard".
According to the requirements of the "Mortgage Loan Refinancing Procedure" of Housing for Youth, in the calculation of monthly repayments, the amount obtained from the difference between the loan contract amount and the amount of assistance provided by the state can be accepted as the loan amount.
At the time of loan issuance, existing loans and guarantees provided against liabilities of other persons must not be overdue or classified as controlled or in more stringent classes
* If the amount of unpaid liability of the borrower on one loan does not exceed AMD 1,000 (one thousand), then the given loan is not considered overdue (the provision of the clause does not apply in case of existing overdue)
According to the Mortgage Loan Refinancing Procedure of the Program. Moreover, the amount obtained from the difference between the loan amount as mentioned in the contract and the amount of assistance provided by the state can be accepted as the amount of monthly repayments on the loan.
Non-cash
• Lump sum or in installments, in case of acquisition
"Annuity" (equal monthly repayment), in which the principal and accrued interest are included in variable proportions.
• Assistance for the purchase of residential real estate in Yerevan or the construction of an individual residential house is provided exclusively to those individuals and their families who were registered in Yerevan before residing in the Republic of Artsakh.
•Assistance for the purchase of residential real estate or the construction of an individual residential house in the regional settlements of the Republic of Armenia is provided exclusively to those persons and their families who were not registered in the Republic of Artsakh before residing in the Republic of Artsakh.
• If during the term of the mortgage loan the ownership right to residential real estate is registered in the name of other persons (except family members) (regardless of the size of the share), the payment of financial assistance ceases in full, and the amounts of state assistance paid at that moment are not subject to refund to the state.
• In the event that the beneficiary has overdue obligations for more than 90 days within the framework of monthly payments made during the term of the mortgage loan, the payment of financial assistance shall be completely suspended; the amounts of state assistance paid at that moment shall not be subject to refund to the state.
• In the event of alienation of residential real estate during the term of the mortgage loan, the amount of state assistance is subject to return to the state, in a mutually agreed manner or through judicial proceedings.
• The real estate acquired after September 27, 2020 was not owned by any member of the beneficiary family, including not owned by joint ownership.
• Compliance of the collateral with the Bank's requirements
•Other factors
• Non-compliance with the terms of the loan
• The customer has overdue and/or special class credit obligations/guarantees
• Insufficient income (in case of income review)
• Insufficient level of creditworthiness
• Insufficient level of collateral liquidity from the bank's point of view
• Unwanted customer for the bank
• Providing false or unreliable information
• Availability of information that casts doubt on the loan repayment
• Absence of customer email
• Other grounds
The decision to grant or reject a loan is made within a maximum of 5 (five) business days, after fully submitting the initial documents required by the bank for decision-making.
30 calendar days from the date of the positive decision on loan issuance
1 business day
Cases not regulated by these terms and conditions are regulated in accordance with the procedure and conditions established by the “State Assistance to Ensure Affordable Housing for Families Displaced from Certain Regions of the Republic of Artsakh” program.
! Before signing the contract, the Organization will provide you with an individual mortgage loan essential terms sheet, which presents the essential terms of the loan to be provided to you.