Below-mentioned EE and regional housing loans are offered under the Housing finance, 4th phase, program, which is financed by German KfW bank and implemented by the Company. The objectives of the Program are:

  • Develop overall mortgage market in the Republic of Armenia,
  • Develop housing finance in regions, and
  • Develop EE standards in housing finance. 

Loan products are disbursed by eight Partner Financial Institutions (please, scroll down to see the list of partner institutions).

Interest rate for both EE and regional housing loans is at least one percentage point less as compared to the standard mortgage loans. Please, find the terms of loan products below.

Housing energy efficiency loans
Regional loans
EE construction loans

This loan product is designed for the construction of a house, which meets the eligibility criteria set by the program. A house is considered EE, if either its EE class is at least C+ or it complies with the requirements of the EE measurement questionnaire designed specifically for this program.

EE construction loans' terms
Amount

up to AMD 25 mln 

Maturity minimum 10 years
Interest rate Defined by PFI  (around 11.5%-14% annualy)
Pledge* 

Land or the building under construction, additional property

*For a regional loan whose amount does not exceed AMD 2 million, movable collateral and/or third party guarantee can be considered instead of a property.

EE purchase loans

This loan product is designed for the purchase of a house or an apartment, which meets the eligibility criteria set by the program. A house is considered EE, if it complies with the requirements of the EE measurement questionnaire designed specifically for this program. If the apartment is in a building, which has EE class of at least C+, no EE evaluation is needed.

EE purchase loans' terms
Amount

up to AMD 25 mln 

Maturity minimum 10 years
Interes rate Defined by PFI  (around 10%-12% annualy)
Down payment minimum 30%
Pledge* 

the real estate to be purchased

*For a regional loan whose amount does not exceed AMD 2 million, movable collateral and/or third party guarantee can be considered instead of a property.

EE renovation loans

This loan product is designed for EE improvement of an apartment or a house.

Minimum 40% of the loan amount should be used for EE improvements, replacement or purchase of home appliances. In addition, the amount spent on home appliances cannot exceed 15% of the overall EE improvement expenses.

EE improvements include:

  • replacement of windows and main entrance door,
  • installation or replacement of heating system,
  • isolation of outer walls, roof and floor,
  • installation of solar water heaters and solar PV panels, and
  • purchase or replacement of home appliances.

Home appliances, which can be purchased or replaced within this loan product should have high energy efficiency and have EE class of at least A+. The list includes

  • refrigerator,
  • washing machine (including dish-washer),
  • heating boiler and air-conditioning system, and
  • LED bulbs.

The minimum requirements for EE eligibility regarding materials, equipment and home appliances are presented in the refinancing act on “Housing financing, 4th phase”.

 

EE renovation loans' terms
Amount

from AMD 5 mln up to AMD 25 mln 

Maturity minimum 5 years
Interest rate Defined by PFI  (around  10%-13% annualy)
Pledge 

the real estate to be renovated

 

Regional construction loans

Planning to construct a new home or complete the construction of your house which is still in construction process in regions of RA? This type of loan is right for you.

The real estate under construction should be in regions, in order to be eligable for this loan product.

Regional construction loans' terms
Amount

up to AMD 25 mln 

Maturity minimum 10 years
Interest rate Defined by PFI  (around 11%-13% annualy)
Pledge* 

Land or the building under construction, additional property

*For the loans in RA regions and with loan amount under AMD 2 mln, movable collateral or third party guarantee can be considered instead of mortgage.

Regional renovation loans

Planning to renovate your house or apartment, or improve your living conditions in regions of RA? This type of loan is right for you.

The real estate under renovation should be in regions, in order to be eligable for this loan product.

Regional renovation loans' terms
Amount

from AMD 5 mln up to AMD 25 mln 

Maturity minimum 5 years
Interest rate Defined by PFI  (around  11%-14% annualy)
Pledge 

the real estate to be renovated

Regional purchase loans

Planning to purchase your house or apartment in regions of RA? This type of loan is right for you.

The real estate to be purchased should be in regions, in order to be eligable for this loan product.

Regional purchase loans' terms
Amount

up to AMD 25 mln 

Maturity minimum 10 years
Interes rate Defined by PFI  (around 10%-12% annualy)
Down payment minimum 30%
Pledge* 

the real estate to be purchased

*For the loans in RA regions and with loan amount under AMD 2 mln, movable collateral or third party guarantee can be considered instead of mortgage.

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Updated 31.10.2018 11:48