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National Mortgage Company in cooperation with the French Development Agency is implementing a program aimed at providing better housing by making energy efficient improvements to new and existing apartments/houses. Targeting around 3000 low- and middle-income families, the program aims to make renovation loans available to households and encourage the use of energy saving technologies and equipment, which, in turn, lowers utility bills for households.
Jerm Ojakh micro-loans
| Micro-loan terms | |
| Loan Amount |
From AMD 275,000 up to AMD 2.2 million |
| Loan Term | Min 5 years |
| Interest rate | Max 14% annually |
| Pledge |
No need |
| Grace period |
From 6 months up to 12 months |
| Grant |
10% from the initial amount of the loan (is directed to the repayment of the loan principle, if the requirements are met) |
Jerm Ojakh Energy-Efficient loans
| Energy-efficient loan terms | |
| Loan Amount |
From AMD 2.2 million up to 5.5 million |
| Loan Term | Min 10 years |
| Interest rate | Max 11% annually |
| Pledge |
Property to be renovated |
| Grace period |
From 6 months up to 24 months |
| Grant | 5% from the initial amount of the loan (is directed to the repayment of the loan principle, if the requirements are met) |
At least 70% of the loan amount spent on acquiring materials for renovation must be used to buy energy saving materials and technologies.
The Company refinances renovation loans with the following terms
| Property Renovation loan terms | |
| Loan Amount |
Up to AMD 35 million (max AMD 25 million refinanced by NMC) |
| Loan Term | Min 5 years |
| Interest rate | Defined by PFI (around 12%-14% annually) |
| Pledge |
Property to be renovated |
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In case of any inconsistency between the published Armenian and English versions, the Armenian version prevails.
Updated 18.05.2018 15:09
