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

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

The loan products are disbursed by the 8 Partner Financial Institutions (the list of partners is defined at the end of the webpage).

Both the EE housing loans, and the regional housing loans are offered with at least one percent less interest rate under the Program, compared to the standard mortgage loans. Below are the terms of the loan products offered.

Housing energy efficiency loans
Regional loans
EE construction loans

This loan product is for construction of a house, which is eligible under the standards of this program. Mainly, the house is considered as EE, if the its EE class is C+ or more, or the result is positive, when it is calculated with the EE measurement questionaire designed for the 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 the loans in regions and with loan amount under AMD 2 mln, movable collateral or third party guarantee can be considered instead of mortgage.

EE purchase loans

This loan product is for purchase of a house or an apartment, which is eligible under the standards of this program. Mainly, the house is considered as EE, if the result is positive, when calculated with the EE measurement questionaire designed for the Program.

If the apartment is in a building, which has EE class of C+ or more, 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 11.5%-13% annualy)
Down payment minimum 30%
Pledge* 

the real estate to be purchased

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

EE renovation loans

This loan product is for EE improving of an apartment or house.

Minimun 40% of the loan amount should be used for EE improvement or home appliances replacement of the house or apartment.

EE improvement includes:

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

The list of home appliances, which can be purchased or replaced within this loan product should have high energy efficiency:

  • refregirator,
  • washing machine (including dish-washer),
  • heating boiler, air-conditioning system,
  • LED lamps.

 

EE renovation loans' terms
Amount

from AMD 5 mln up to AMD 25 mln 

Maturity minimum 5 years
Interest rate Defined by PFI  (around  11.5%-14% 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 11.5%-14% 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  11.5%-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 11.5%-13% 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 01.02.2017 10:35