| |
Washington Capital
(Standart program)
|
Washington Capital
(The youth program)
|
Converce Bank |
Arm. Business Bank |
First Mortgage Corp. |
ACBA Credit Bank |
Artsakh Bank |
VTB Bank |
|
Minimal Amount of Loan, $ |
20,000,000 |
11,000,000 |
- |
80,000,000 |
20,000,000 |
40,000,000 |
100,000,000 |
30,000,000 |
|
Maximal term, years |
10-15 |
10-15 |
10-15 |
10 |
10-15 |
0,25-10 |
15 |
10-15 |
|
Interest rate, annual |
12-14 |
8,5 |
16 |
15 |
min. 12 |
14-16 |
18 |
12-17 |
|
PURPOSE OF THE LOAN:
|
|
apartment purchase |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
|
house purchase |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
|
land purchase |
NO |
NO |
NO |
NO |
NO |
NO |
NO |
NO |
|
renovation of an apartment |
YES |
- |
YES |
YES |
YES |
YES |
YES |
YES |
|
renovation of a house |
YES |
- |
YES |
YES |
YES |
YES |
YES |
YES |
|
house construction |
NO |
- |
NO |
NO |
NO |
NO |
NO |
NO |
|
LOCATION OF REAL ESTATE
|
|
Center of Yerevan |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
|
Suburbs of Yerevan |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
|
Other cities |
NO |
- |
YES |
-
|
NO |
YES |
No |
YES |
|
Other requirements for Real Estate
Building must not be in emergency condition |
|
Downpayment by borrower |
10-30% |
30% |
min.30% |
min.40% |
25-30% |
min.30% |
50% |
30% |
|
Duration of Loan Consideration, days |
3 |
3 |
3 |
3 |
3 |
3 |
3 |
3 |
|
Duration of Loan Final Approval, days |
10 |
10 |
- |
- |
7 |
5 |
- |
- |
|
Duration of providing Funds for Final Settlement, days |
15 |
15 |
15 |
15 |
15 |
15 |
15 |
15 |
|
Real Estate Insurance Requirement |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
|
Borrower's Life Insurance Requirement |
YES |
YES |
YES |
- |
NO |
YES |
NO |
YES |
|
OTHER REQUIREMENTS FOR BORROWER: |
|
Permanent residency |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
|
Permanent job |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
YES |
|
Additional guarantees |
NO |
NO |
YES |
NO |
NO |
NO |
NO |
NO |
|
Appraisal of Real Estate |
Independent organization |
Independent organization |
Independent organization |
Independent organization |
Independent organization |
Independent organization |
Independent organization |
Independent organization |
|
Commission fee by bank |
1 % |
- |
- |
YES |
1 % |
50,000 |
- |
- |
|
Penalty for early repayment of the Loan |
YES |
- |
NO |
YES |
- |
- |
- |
0,5 |
|
|