Mortgage loans
Credit for the purchase and renovation of real estate.
Purchase from a Developer
A Home for Shared Living If you wish to purchase an apartment or a residential house from the primary market, Amio will be by your side, making the process simple and fast.
Interest rate
from 13.4%
Amount
up to AMD 150 million
Term
up to 30 years
Benefits
If a 50% down payment is made, income verification is not required.
No penalties or fines are applied in case of early loan repayment.
No application review or servicing fees are charged.
Loan type - Mortgage loan for the purchase of apartments/residential houses in buildings constructed by a developer (primary market)
Currency- AMD
Term - months 12-360
Furthermore, the loan-to-collateral ratio must be as follows:
- For AMD-denominated loans with a term of 12-240 months - up to 90% of the value of the acquired real estate (right), as stated in the certificate provided by the developer to the customer.
- For AMD-denominated loans with a term of more than 240 months - up to 80% of the value of the acquired real estate (right), as stated in the certificate provided by the developer to the customer.ադրված տեղեկանքում նշված արժեքի մինչև 80%-ը:
Annual Nominal Interest Rate
- With income verification: 13.4%
- Without income verification: 14.5%
Annual Percentage Rate (APR) - 14.09-20.8%
Interest Rate Type
Fixed adjustable interest rate¹
¹The fixed (adjustable) interest rate may be revised starting from the 37th month. The calculation is based on the procedure for setting and changing the AMIO reference rate.
Minimum amount - AMD 5,000,000
Maximum amount³ - AMD 150,000,000
Minimum Down Payment
- With income verification: 10% of the value of the acquired real estate
- Without income verification²: 50% of the value of the acquired real estate
If additional real estate is pledged, no down payment is required. In this case, the combined market value of both properties must be at least 150% of the loan amount³.
²Only the presentation of the borrower’s source of income in the application is required. ³The market value of the acquired property is considered to be the price indicated in the certificate provided by the developer.
Loan Disbursement Method
- One-time
- Non-cash
Maximum Loan-to-Collateral Ratio
- In case of pledging the acquired real estate (right): 90%
- In case of pledging both the acquired and additional real estate, 100% of the purchase price may be financed, provided that the loan amount does not exceed 85% of the combined market value of the acquired and additional properties
Loan and Interest Repayment
At the customer’s choice:
- Annuity payments
- Equal monthly repayment of the principal with monthly repayment of accrued interest
One-time Loan Servicing Fee(charged at disbursement) 0.5%, not exceeding AMD 100,000
Opening/maintenance of bank accounts (one-time), provision of statements, their duplicates, certificates, and other information - According to the Bank's current tariffs
Requirements and conditions for the borrower and co-borrower
Borrower, Co-borrower
- A resident natural person of the Republic of Armenia, aged 21 or older, whose center of vital interests is located in Armenia, and whose age does not exceed 70 years by the loan maturity date⁴
- The number of co-borrowers may not exceed 3 persons
⁴ If the customer turns 70 years old during the loan servicing period and 70% of the principal has been repaid, the application shall not be subject to rejection.
Borrower’s and Co-borrower’s Income
- Primary income (mandatory): taken into account at 100%*
- Secondary income (optional): taken into account up to 60%**
- Declared income (optional): taken into account up to 60%, which may not exceed twice the primary income**. The declared income must be reasonable and realistic for the Bank; otherwise, the Bank reserves the right not to consider it.
- If the customer’s income is derived from salary received from a company founded by the customer, the Bank analyzes the customer’s salary data for at least the last 12 months. If necessary, the Bank may request and analyze the financial statements of the customer’s companies and may replace salary income with dividend income.
Income calculation is carried out in accordance with the Bank’s internal legal acts.
General Principles of Creditworthiness Assessment
The maximum ratio of total debt payments to net income (OTI ratio) must not exceed 55%.
Requirements for the Borrower’s and Co-borrower’s Credit History
- At the time of making the loan approval decision, the current credit obligations (loans, guarantees) of the borrower and the borrower’s spouse must not be overdue or classified as non-performing.
- If the amount of an unpaid obligation under a single loan does not exceed AMD 1,000, such loan is not considered overdue.
- During the last 12 months, the total number of overdue days across all loans (repaid and active) must not exceed 30 calendar days, with the calculation based on the maximum number of overdue days for any single loan within one month.
Requirements and Conditions for the Collateral
Collateral Object
- The acquired real estate (right to acquire real estate)
- In the case of loans without a down payment, additional real estate collateral is also required
Developer
Financing may be provided with:
- Developers cooperating with the Bank Appendix 1
- Developers not cooperating with the Bank
In the latter case, the loan amount provided to the customer is frozen at 100% in the developer’s special account (opened with the Bank or another bank).
Additional Conditions
Application Rejection
The application will be rejected if the customer does not meet the Bank’s established criteria for:
- Creditworthiness
- Solvency
- Loan eligibility
The Bank has the right to:
- Continue to apply the interest calculation provided by the Agreement to the overdue loan.
- In terms of overdue interest, the Bank charges the Borrower a penalty in the amount of 0.13% of the overdue amount for each day of delay. -- In case of overdue obligations, repayments are made in the following order:
- Penalty/penalties
- Interest charges
- Principal amount
**IN CASE OF NON-FULFILLMENT OR INCOMPLETE FULFILLMENT OF THE OBLIGATION BY THE BORROWER, AFTER 3 WORKING DAYS, THE LENDER SENDS THAT DATA TO THE CREDIT BUREAU, WHERE THE CREDIT HISTORY OF THE BORROWER IS FORMED. THE BORROWER HAS THE RIGHT TO GET HIS CREDIT HISTORY FROM THE CREDIT BUREAU ONCE A YEAR FOR FREE.
ATTENTION: A BAD CREDIT HISTORY CAN HINDER YOU WHEN GETTING A LOAN IN THE FUTURE.
The Bank is entitled to impose a forfeiture on the collateral without applying to court.
In the event of foreclosure on the pledged real estate, if the proceeds from the sale do not fully satisfy the secured claim, the difference will be collected from the borrower’s other assets.**
Other Customer Expenses
- Collateral valuation expenses: AMD 15,000–25,000, according to the rates of appraisal companies cooperating with the Bank
- Notary expenses: AMD 15,000–25,000
- Cadastral registration expenses (state registration of rights): For apartment acquisition: AMD 72,000–73,000 In other cases: AMD 27,000–28,000
- Unified certificate: AMD 10,000
- Property insurance against fire and other risks: 0.15% of the outstanding loan balance, according to rates of insurance companies cooperating with the Bank
- Accident insurance expenses: 0.15% of the outstanding loan balance, according to rates of insurance companies cooperating with the Bank
Loan Application Review Period
Up to 7 business days
Classification of Borrower’s and Co-borrower’s Primary and Secondary Income
Primary income includes:
- Salary and equivalent payments (bonuses, incentives, etc.)
- Military pension
- Business income supported by tax reports
Secondary income includes:
- Income from rentals
- Regular cash transfers
- Business income
Other loans
Purchase from a Developer
A Home for Shared Living If you wish to purchase an apartment or a residential house from the primary market, Amio will be by your side, making the process simple and fast.
Interest rate
from 13.4%
Amount
up to AMD 150 million
Term
up to 30 years
Benefits
If a 50% down payment is made, income verification is not required.
No penalties or fines are applied in case of early loan repayment.
No application review or servicing fees are charged.
Loan type - Mortgage loan for the purchase of apartments/residential houses in buildings constructed by a developer (primary market)
Currency- AMD
Term - months 12-360
Furthermore, the loan-to-collateral ratio must be as follows:
- For AMD-denominated loans with a term of 12-240 months - up to 90% of the value of the acquired real estate (right), as stated in the certificate provided by the developer to the customer.
- For AMD-denominated loans with a term of more than 240 months - up to 80% of the value of the acquired real estate (right), as stated in the certificate provided by the developer to the customer.ադրված տեղեկանքում նշված արժեքի մինչև 80%-ը:
Annual Nominal Interest Rate
- With income verification: 13.4%
- Without income verification: 14.5%
Annual Percentage Rate (APR) - 14.09-20.8%
Interest Rate Type
Fixed adjustable interest rate¹
¹The fixed (adjustable) interest rate may be revised starting from the 37th month. The calculation is based on the procedure for setting and changing the AMIO reference rate.
Minimum amount - AMD 5,000,000
Maximum amount³ - AMD 150,000,000
Minimum Down Payment
- With income verification: 10% of the value of the acquired real estate
- Without income verification²: 50% of the value of the acquired real estate
If additional real estate is pledged, no down payment is required. In this case, the combined market value of both properties must be at least 150% of the loan amount³.
²Only the presentation of the borrower’s source of income in the application is required. ³The market value of the acquired property is considered to be the price indicated in the certificate provided by the developer.
Loan Disbursement Method
- One-time
- Non-cash
Maximum Loan-to-Collateral Ratio
- In case of pledging the acquired real estate (right): 90%
- In case of pledging both the acquired and additional real estate, 100% of the purchase price may be financed, provided that the loan amount does not exceed 85% of the combined market value of the acquired and additional properties
Loan and Interest Repayment
At the customer’s choice:
- Annuity payments
- Equal monthly repayment of the principal with monthly repayment of accrued interest
One-time Loan Servicing Fee(charged at disbursement) 0.5%, not exceeding AMD 100,000
Opening/maintenance of bank accounts (one-time), provision of statements, their duplicates, certificates, and other information - According to the Bank's current tariffs
Requirements and conditions for the borrower and co-borrower
Borrower, Co-borrower
- A resident natural person of the Republic of Armenia, aged 21 or older, whose center of vital interests is located in Armenia, and whose age does not exceed 70 years by the loan maturity date⁴
- The number of co-borrowers may not exceed 3 persons
⁴ If the customer turns 70 years old during the loan servicing period and 70% of the principal has been repaid, the application shall not be subject to rejection.
Borrower’s and Co-borrower’s Income
- Primary income (mandatory): taken into account at 100%*
- Secondary income (optional): taken into account up to 60%**
- Declared income (optional): taken into account up to 60%, which may not exceed twice the primary income**. The declared income must be reasonable and realistic for the Bank; otherwise, the Bank reserves the right not to consider it.
- If the customer’s income is derived from salary received from a company founded by the customer, the Bank analyzes the customer’s salary data for at least the last 12 months. If necessary, the Bank may request and analyze the financial statements of the customer’s companies and may replace salary income with dividend income.
Income calculation is carried out in accordance with the Bank’s internal legal acts.
General Principles of Creditworthiness Assessment
The maximum ratio of total debt payments to net income (OTI ratio) must not exceed 55%.
Requirements for the Borrower’s and Co-borrower’s Credit History
- At the time of making the loan approval decision, the current credit obligations (loans, guarantees) of the borrower and the borrower’s spouse must not be overdue or classified as non-performing.
- If the amount of an unpaid obligation under a single loan does not exceed AMD 1,000, such loan is not considered overdue.
- During the last 12 months, the total number of overdue days across all loans (repaid and active) must not exceed 30 calendar days, with the calculation based on the maximum number of overdue days for any single loan within one month.
Requirements and Conditions for the Collateral
Collateral Object
- The acquired real estate (right to acquire real estate)
- In the case of loans without a down payment, additional real estate collateral is also required
Developer
Financing may be provided with:
- Developers cooperating with the Bank Appendix 1
- Developers not cooperating with the Bank
In the latter case, the loan amount provided to the customer is frozen at 100% in the developer’s special account (opened with the Bank or another bank).
Additional Conditions
Application Rejection
The application will be rejected if the customer does not meet the Bank’s established criteria for:
- Creditworthiness
- Solvency
- Loan eligibility
The Bank has the right to:
- Continue to apply the interest calculation provided by the Agreement to the overdue loan.
- In terms of overdue interest, the Bank charges the Borrower a penalty in the amount of 0.13% of the overdue amount for each day of delay. -- In case of overdue obligations, repayments are made in the following order:
- Penalty/penalties
- Interest charges
- Principal amount
**IN CASE OF NON-FULFILLMENT OR INCOMPLETE FULFILLMENT OF THE OBLIGATION BY THE BORROWER, AFTER 3 WORKING DAYS, THE LENDER SENDS THAT DATA TO THE CREDIT BUREAU, WHERE THE CREDIT HISTORY OF THE BORROWER IS FORMED. THE BORROWER HAS THE RIGHT TO GET HIS CREDIT HISTORY FROM THE CREDIT BUREAU ONCE A YEAR FOR FREE.
ATTENTION: A BAD CREDIT HISTORY CAN HINDER YOU WHEN GETTING A LOAN IN THE FUTURE.
The Bank is entitled to impose a forfeiture on the collateral without applying to court.
In the event of foreclosure on the pledged real estate, if the proceeds from the sale do not fully satisfy the secured claim, the difference will be collected from the borrower’s other assets.**
Other Customer Expenses
- Collateral valuation expenses: AMD 15,000–25,000, according to the rates of appraisal companies cooperating with the Bank
- Notary expenses: AMD 15,000–25,000
- Cadastral registration expenses (state registration of rights): For apartment acquisition: AMD 72,000–73,000 In other cases: AMD 27,000–28,000
- Unified certificate: AMD 10,000
- Property insurance against fire and other risks: 0.15% of the outstanding loan balance, according to rates of insurance companies cooperating with the Bank
- Accident insurance expenses: 0.15% of the outstanding loan balance, according to rates of insurance companies cooperating with the Bank
Loan Application Review Period
Up to 7 business days
Classification of Borrower’s and Co-borrower’s Primary and Secondary Income
Primary income includes:
- Salary and equivalent payments (bonuses, incentives, etc.)
- Military pension
- Business income supported by tax reports
Secondary income includes:
- Income from rentals
- Regular cash transfers
- Business income
Other loans
Purchase from a Developer
A Home for Shared Living If you wish to purchase an apartment or a residential house from the primary market, Amio will be by your side, making the process simple and fast.
Interest rate
from 13.4%
Amount
up to AMD 150 million
Term
up to 30 years
Benefits
If a 50% down payment is made, income verification is not required.
No penalties or fines are applied in case of early loan repayment.
No application review or servicing fees are charged.
Loan type - Mortgage loan for the purchase of apartments/residential houses in buildings constructed by a developer (primary market)
Currency- AMD
Term - months 12-360
Furthermore, the loan-to-collateral ratio must be as follows:
- For AMD-denominated loans with a term of 12-240 months - up to 90% of the value of the acquired real estate (right), as stated in the certificate provided by the developer to the customer.
- For AMD-denominated loans with a term of more than 240 months - up to 80% of the value of the acquired real estate (right), as stated in the certificate provided by the developer to the customer.ադրված տեղեկանքում նշված արժեքի մինչև 80%-ը:
Annual Nominal Interest Rate
- With income verification: 13.4%
- Without income verification: 14.5%
Annual Percentage Rate (APR) - 14.09-20.8%
Interest Rate Type
Fixed adjustable interest rate¹
¹The fixed (adjustable) interest rate may be revised starting from the 37th month. The calculation is based on the procedure for setting and changing the AMIO reference rate.
Minimum amount - AMD 5,000,000
Maximum amount³ - AMD 150,000,000
Minimum Down Payment
- With income verification: 10% of the value of the acquired real estate
- Without income verification²: 50% of the value of the acquired real estate
If additional real estate is pledged, no down payment is required. In this case, the combined market value of both properties must be at least 150% of the loan amount³.
²Only the presentation of the borrower’s source of income in the application is required. ³The market value of the acquired property is considered to be the price indicated in the certificate provided by the developer.
Loan Disbursement Method
- One-time
- Non-cash
Maximum Loan-to-Collateral Ratio
- In case of pledging the acquired real estate (right): 90%
- In case of pledging both the acquired and additional real estate, 100% of the purchase price may be financed, provided that the loan amount does not exceed 85% of the combined market value of the acquired and additional properties
Loan and Interest Repayment
At the customer’s choice:
- Annuity payments
- Equal monthly repayment of the principal with monthly repayment of accrued interest
One-time Loan Servicing Fee(charged at disbursement) 0.5%, not exceeding AMD 100,000
Opening/maintenance of bank accounts (one-time), provision of statements, their duplicates, certificates, and other information - According to the Bank's current tariffs
Requirements and conditions for the borrower and co-borrower
Borrower, Co-borrower
- A resident natural person of the Republic of Armenia, aged 21 or older, whose center of vital interests is located in Armenia, and whose age does not exceed 70 years by the loan maturity date⁴
- The number of co-borrowers may not exceed 3 persons
⁴ If the customer turns 70 years old during the loan servicing period and 70% of the principal has been repaid, the application shall not be subject to rejection.
Borrower’s and Co-borrower’s Income
- Primary income (mandatory): taken into account at 100%*
- Secondary income (optional): taken into account up to 60%**
- Declared income (optional): taken into account up to 60%, which may not exceed twice the primary income**. The declared income must be reasonable and realistic for the Bank; otherwise, the Bank reserves the right not to consider it.
- If the customer’s income is derived from salary received from a company founded by the customer, the Bank analyzes the customer’s salary data for at least the last 12 months. If necessary, the Bank may request and analyze the financial statements of the customer’s companies and may replace salary income with dividend income.
Income calculation is carried out in accordance with the Bank’s internal legal acts.
General Principles of Creditworthiness Assessment
The maximum ratio of total debt payments to net income (OTI ratio) must not exceed 55%.
Requirements for the Borrower’s and Co-borrower’s Credit History
- At the time of making the loan approval decision, the current credit obligations (loans, guarantees) of the borrower and the borrower’s spouse must not be overdue or classified as non-performing.
- If the amount of an unpaid obligation under a single loan does not exceed AMD 1,000, such loan is not considered overdue.
- During the last 12 months, the total number of overdue days across all loans (repaid and active) must not exceed 30 calendar days, with the calculation based on the maximum number of overdue days for any single loan within one month.
Requirements and Conditions for the Collateral
Collateral Object
- The acquired real estate (right to acquire real estate)
- In the case of loans without a down payment, additional real estate collateral is also required
Developer
Financing may be provided with:
- Developers cooperating with the Bank Appendix 1
- Developers not cooperating with the Bank
In the latter case, the loan amount provided to the customer is frozen at 100% in the developer’s special account (opened with the Bank or another bank).
Additional Conditions
Application Rejection
The application will be rejected if the customer does not meet the Bank’s established criteria for:
- Creditworthiness
- Solvency
- Loan eligibility
The Bank has the right to:
- Continue to apply the interest calculation provided by the Agreement to the overdue loan.
- In terms of overdue interest, the Bank charges the Borrower a penalty in the amount of 0.13% of the overdue amount for each day of delay. -- In case of overdue obligations, repayments are made in the following order:
- Penalty/penalties
- Interest charges
- Principal amount
**IN CASE OF NON-FULFILLMENT OR INCOMPLETE FULFILLMENT OF THE OBLIGATION BY THE BORROWER, AFTER 3 WORKING DAYS, THE LENDER SENDS THAT DATA TO THE CREDIT BUREAU, WHERE THE CREDIT HISTORY OF THE BORROWER IS FORMED. THE BORROWER HAS THE RIGHT TO GET HIS CREDIT HISTORY FROM THE CREDIT BUREAU ONCE A YEAR FOR FREE.
ATTENTION: A BAD CREDIT HISTORY CAN HINDER YOU WHEN GETTING A LOAN IN THE FUTURE.
The Bank is entitled to impose a forfeiture on the collateral without applying to court.
In the event of foreclosure on the pledged real estate, if the proceeds from the sale do not fully satisfy the secured claim, the difference will be collected from the borrower’s other assets.**
Other Customer Expenses
- Collateral valuation expenses: AMD 15,000–25,000, according to the rates of appraisal companies cooperating with the Bank
- Notary expenses: AMD 15,000–25,000
- Cadastral registration expenses (state registration of rights): For apartment acquisition: AMD 72,000–73,000 In other cases: AMD 27,000–28,000
- Unified certificate: AMD 10,000
- Property insurance against fire and other risks: 0.15% of the outstanding loan balance, according to rates of insurance companies cooperating with the Bank
- Accident insurance expenses: 0.15% of the outstanding loan balance, according to rates of insurance companies cooperating with the Bank
Loan Application Review Period
Up to 7 business days
Classification of Borrower’s and Co-borrower’s Primary and Secondary Income
Primary income includes:
- Salary and equivalent payments (bonuses, incentives, etc.)
- Military pension
- Business income supported by tax reports
Secondary income includes:
- Income from rentals
- Regular cash transfers
- Business income
Other loans
Subject to amendment made to Law on Currency Regulation and Currency Control, the interest amounts accrued on foreign currency loans and deposits, which “AMIO BANK” CJSC has issued or attracted since December 2, 2017, may at your option be repaid in the same currency in which they have been issued or attracted.
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