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2H19v8h-5.192l-.4-2H7v7.5zm8.65-6.5H18V8h-5.25l-.4-2H7v6h7.25z\"\u002F>",{"left":5,"top":5,"width":43,"height":43,"rotate":5,"vFlip":7,"hFlip":7,"body":44},32,"\u003Cg fill=\"none\">\u003Cpath fill=\"currentColor\" d=\"m31.4 5.4-4.7 22c-.35 1.55-1.25 1.9-2.55 1.2l-7.05-5.2-3.45 3.3c-.35.35-.7.7-1.5.7l.55-7.25L25.85 8.2c.55-.55-.15-.75-.85-.3L8.65 18.2 1.6 16.05c-1.55-.5-1.55-1.55.35-2.25l27.4-10.65c1.35-.4 2.5.3 2.05 2.25\"\u002F>\u003C\u002Fg>",{"left":5,"top":5,"width":43,"height":43,"rotate":5,"vFlip":7,"hFlip":7,"body":46},"\u003Cdefs>\u003CclipPath id=\"a\">\u003Cpath fill=\"#fff\" d=\"M0 0h32v32H0z\"\u002F>\u003C\u002FclipPath>\u003C\u002Fdefs>\u003Cg fill=\"none\">\u003Cg clip-path=\"url(#a)\">\u003Cpath fill=\"currentColor\" d=\"M23.7 12.9h-3.8V7.8H23c.55 0 1-.4 1-1V1.5c0-.55-.4-1-1-1h-3.65c-3.95 0-6.7 2.8-6.7 6.95v5.35h-4.4c-.7 0-1.35.55-1.35 1.35v3.6c0 .7.55 1.35 1.35 1.35h4.3v11.05c0 .7.55 1.35 1.35 1.35h4.7c.3 0 .55-.15.75-.35s.35-.55.35-.85V19.15H23c.65 0 1.15-.4 1.25-1v-.1l.7-3.45c.05-.35 0-.75-.3-1.15-.1-.25-.55-.5-.95-.55\"\u002F>\u003C\u002Fg>\u003C\u002Fg>",{"left":5,"top":5,"width":43,"height":43,"rotate":5,"vFlip":7,"hFlip":7,"body":48},"\u003Cg style=\"transform-origin:1.01222px 1.01222px\">\u003Cpath fill=\"currentColor\" d=\"M24.843 6.234c-1.071 0-1.875.803-1.875 1.874 0 1.07.804 1.874 1.875 1.874s1.874-.803 1.874-1.874-.803-1.874-1.874-1.874M16.408 8.643c-4.418 0-7.898 3.615-7.898 7.9s3.614 7.898 7.898 7.898 7.9-3.615 7.9-7.899-3.482-7.899-7.9-7.899m0 12.987a5.085 5.085 0 0 1-5.087-5.088 5.085 5.085 0 0 1 5.087-5.087 5.085 5.085 0 0 1 5.088 5.087 5.085 5.085 0 0 1-5.088 5.088\"\u002F>\u003Cpath fill=\"currentColor\" d=\"M22.834.343H10.116C4.627.343.343 4.627.343 9.983V22.7a9.6 9.6 0 0 0 9.64 9.639H22.7a9.6 9.6 0 0 0 9.639-9.64V9.983c.134-5.355-4.15-9.64-9.506-9.64m6.56 22.491c0 3.615-2.945 6.694-6.693 6.694H9.982c-3.615 0-6.694-2.945-6.694-6.694V10.116c0-3.615 2.946-6.694 6.694-6.694h12.719c3.614 0 6.694 2.945 6.694 6.694z\"\u002F>\u003C\u002Fg>",{"left":5,"top":5,"width":43,"height":43,"rotate":5,"vFlip":7,"hFlip":7,"body":50},"\u003Cg fill=\"none\">\u003Cpath fill=\"currentColor\" d=\"M9.253 6.667a2.667 2.667 0 1 1-5.333-.003 2.667 2.667 0 0 1 5.333.003m.08 4.64H4V28h5.333zm8.427 0h-5.307V28h5.254v-8.76c0-4.88 6.36-5.333 6.36 0V28h5.266V17.427c0-8.227-9.413-7.92-11.626-3.88z\"\u002F>\u003C\u002Fg>",{"left":5,"top":5,"width":30,"height":30,"rotate":5,"vFlip":7,"hFlip":7,"body":52},"\u003Cg fill=\"none\" stroke=\"currentColor\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\">\u003Ccircle cx=\"12\" cy=\"12\" r=\"10\"\u002F>\u003Cpath d=\"M14.83 14.83a4 4 0 1 1 0-5.66\"\u002F>\u003C\u002Fg>",{"currentArticle":54},{"data":55},{"id":56,"title":57,"description":58,"original_image":59,"thumbnail_image":60,"image_source":61,"description_source":62,"publication_date":63,"views_count":64,"category":65,"topics":68,"author":81,"banners":97,"seo":98},48,"Buying an Apartment with a Mortgage in Yerevan: Which Banks Offer the Lowest Rates","\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Yerevan remains the most expensive city in Armenia in terms of real estate prices. Starting from 2025, the income tax refund program for mortgage borrowers is no longer available in the capital. This makes it especially important to choose a bank that offers a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">low interest rate\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> and \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">minimal extra costs\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — key factors for anyone looking to buy an apartment in Yerevan and avoid excessive overpayments.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">This article explains where to find \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">low-interest mortgages\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, compares loan terms under \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">government programs and standard offers\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, provides practical examples, and outlines \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">additional costs\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> to consider.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">How to Choose a Mortgage with Truly Low Overpayment\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">A low interest rate is important — but it’s \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">not the only factor\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> that makes a mortgage affordable. Banks often advertise attractive rates while hiding \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">fees\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> or \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">limitations\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> in the fine print. Here's what you should pay attention to:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">What Drives the Final Overpayment on a Mortgage?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Effective interest rate\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, not just the nominal one.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> This includes \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">commissions, insurance\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, and other charges — giving you the true cost of borrowing.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Loan term\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> The longer the term, the higher the total overpayment — even at a low rate (unless you plan to repay early).\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Down payment size\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> A larger upfront payment means a smaller loan amount and less interest overall.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Payment type: annuity or differentiated\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> With annuity payments, you mostly pay interest in the early years. With differentiated payments, the principal is repaid faster and overpayment is lower.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Key Factors to Consider When Choosing a Mortgage in Yerevan\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Extra fees\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — such as application processing or account maintenance.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Even with a low interest rate, these fees can significantly increase the total cost.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Insurance requirements\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Whether it’s mandatory or optional — and how much it adds to the overall cost.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Flexible terms\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — including early repayment without penalties, online applications, or joint applications with a spouse.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Government support programs\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> These can significantly reduce your interest rate or offer partial cost reimbursement.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Top 5 Tips for Getting a Mortgage in Yerevan Without Overpaying\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Compare total overpayment, not just interest rates\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Don’t rely on the advertised “minimum” rate — focus on the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">maximum effective rate\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which reflects the full cost of the loan.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Consider government support programs — if you’re eligible\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Families displaced from Nagorno-Karabakh, young families, and participants of energy-efficiency initiatives can access mortgages at \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">0.5%–6%\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which is significantly lower than standard market rates.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Review all bank fees\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Make sure the bank doesn’t charge hidden fees for loan issuance, account maintenance, fund transfers, or early repayment.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Request a payment schedule in advance\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Ask for both \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">annuity\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> and \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">differentiated\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> payment schedules, then calculate the total overpayment for each to compare.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Don’t hesitate to negotiate with the bank\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">You might get a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">better rate\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> if your salary is paid into the same bank or if you apply with a guarantor. Always ask about personalized terms.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Explore developer-offered programs\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Yerevan has a booming construction sector. Developers often compete by offering \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">discounts\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> and \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">installment plans\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which can make buying a new home more affordable.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Which Banks Offer the Lowest Mortgage Rates in Armenian Drams in Yerevan?\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The table below lists current offers available in 2025, sorted by \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">maximum effective rate\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> in AMD. All listed programs are denominated in Armenian drams, which is the most convenient option for local residents. Loans in USD and EUR are not included.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Bank\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Program Name\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Max. Effective Rate\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Min. Down Payment\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Max. Term\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Available for Non-Residents\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"2\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Unibank\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"2\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Construction in Border Regions\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"2\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">0.15%\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"2\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">0%\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"2\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">10 years\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"2\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">No\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"3\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Unibank\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"3\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Housing for Families from Nagorno-Karabakh\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"3\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">0.50%\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"3\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">1%\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"3\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">10 years\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"3\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">No\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"4\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Armeconombank\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"4\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Energy-Efficient Renovation\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"4\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">4.68%\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"4\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">0%\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"4\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">7 years\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"4\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">No\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"5\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Armeconombank\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"5\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Housing for Families from Nagorno-Karabakh\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"5\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">5.00%\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"5\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">1%\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"5\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">10 years\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"5\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">No\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"6\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Ameriabank\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"6\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Energy-Efficient Renovation\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"6\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">6.00%\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"6\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">0%\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"6\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">7 years\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"6\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">No\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Note:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> All listed programs are offered in \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which is especially convenient for residents of Armenia. Programs in foreign currencies such as USD or EUR are \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">not\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> included in this comparison.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">How Government Programs Reduce Mortgage Rates\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Government subsidies\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> are a real way to reduce your interest rate and monthly payments. Here are the main types of support available:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Program for Families from Nagorno-Karabakh\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — interest rate starting from \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">0.5% annually\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Energy-Efficient Renovation\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — up to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">6%\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, still lower than standard market rates\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Border Region Housing\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — from \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">0.15%\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, available when buying property in designated regions\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">How to Lower Your Mortgage Rate Without a Government Program\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Even if you're \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">not eligible\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> for state support, there are ways to reduce your mortgage rate through \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">personal conditions\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Salary project with the bank\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">If your salary is deposited to the same bank where you apply for the mortgage, your rate may drop by \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">0.5–1 percentage points\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Higher down payment than required\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The more you pay upfront (e.g., 30% instead of the minimum 10%), the lower the bank’s risk — and potentially the lower your rate.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Co-borrowers or guarantors\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Applying jointly with a spouse or parents can improve your loan terms.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Positive credit history\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">If you've had previous loans with no missed payments, the bank is more likely to offer you a reduced rate.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Voluntary life insurance\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Some banks offer interest rate discounts when you opt for comprehensive life and property insurance.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Tip:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Always ask the bank which of these factors can reduce your rate — they might serve as a hidden advantage during negotiations.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Comparison: Standard Mortgage vs. Government-Supported Mortgage\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Even if you apply personal strategies to reduce your rate, \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">government programs remain the most cost-effective\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">. Let’s compare the two:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Parameter\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Standard Mortgage\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Government-Supported Mortgage\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"2\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Interest Rate\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"2\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">From 9–13% annually\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"2\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">From 0.15% to 6%\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"3\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Down Payment\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"3\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">From 10–30%\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"3\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">From 0%\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"4\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Eligibility\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"4\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Open to everyone\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"4\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Only for specific target groups\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"5\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Fees and Expenses\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"5\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Standard\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"5\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Reduced \u002F Subsidized\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">How Government Programs Reduce Mortgage Rates\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Government subsidies\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> are a real way to reduce your interest rate and monthly payments. Here are the main types of support available:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Program for Families from Nagorno-Karabakh\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — interest rate starting from \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">0.5% annually\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Energy-Efficient Renovation\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — up to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">6%\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, still lower than standard market rates\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Border Region Housing\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — from \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">0.15%\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, available when buying property in designated regions\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Mortgage Payment Example: How Much a Family Will Pay for an Apartment in Yerevan\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Let’s look at a typical case: a family plans to buy an apartment in Yerevan for \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 30 million\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">They have savings for a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">20% down payment\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — that’s \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 6 million\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The remaining \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 24 million\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> they plan to borrow via a mortgage for \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">20 years\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> (240 months)\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cbr>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Now let’s compare two scenarios: with and without a government support program.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Option 1: Without Government Support\u003C\u002Fstrong>\u003C\u002Fh3>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Interest rate\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: 12% annually (annuity payments)\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Monthly payment\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: ≈ AMD 264,000\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Total repayment over 20 years\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: ≈ AMD 63.3 million\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Total interest overpayment\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: ≈ AMD 39.3 million\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Option 2: With Government Support\u003C\u002Fstrong>\u003C\u002Fh3>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Interest rate\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: 5% annually (e.g. under energy-efficiency or family support programs)\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Monthly payment\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: ≈ AMD 158,000\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Total repayment over 20 years\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: ≈ AMD 37.9 million\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Total interest overpayment\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: ≈ AMD 13.9 million\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Comparison Table\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Parameter\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Without Program\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"1\" class=\"ql-align-center\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">With Government Program\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"2\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Interest Rate\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"2\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">12% annually\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"2\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">5% annually\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"3\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Monthly Payment\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"3\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">~AMD 264,000\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"3\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">~AMD 158,000\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"4\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Overpayment (20 years)\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"4\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">~AMD 39.3 million\u003C\u002Fspan>\u003C\u002Ftd>\u003Ctd data-row=\"4\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">~AMD 13.9 million\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"5\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Savings\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"5\">\u003Cbr>\u003C\u002Ftd>\u003Ctd data-row=\"5\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">~AMD 25.4 million\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Over AMD 25 million saved\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — that’s practically the cost of a second apartment in the suburbs, a new car, or even a full university education for a child.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">How the Mortgage Income Tax Refund Program Works in Armenia\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Armenia has an \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">income tax refund program\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> for mortgage borrowers. It allows you to recover part of the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">interest paid on your loan\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> through a refund of the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">income tax you've already paid\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — in other words, the government returns the money you paid as tax on your salary.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">What Changed in 2025 in Armenia’s Mortgage Income Tax Refund Program?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Previously, buyers of \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">new apartments in Yerevan\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> could apply for an \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">income tax refund\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which partially compensated for the interest paid on a mortgage. However, \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">as of January 1, 2025\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, the program is \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">no longer available in the capital\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Now, you can benefit from the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">income tax refund\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">only\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> when:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Buying property \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">outside of Yerevan\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Participating in \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">one of the approved government programs\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Key Updates to the Program\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Since 2025\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: The \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">maximum quarterly refund\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is limited to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 750,000\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">From 2027\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: The program will no longer be available in \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Ararat, Armavir, Aragatsotn, and Kotayk regions\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">From 2029\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: It will apply \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">only\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">border communities\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> officially approved by the government\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Exception: Construction Permits Issued Before 2022\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">There’s an important exception:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> If you're buying an apartment in a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">residential complex in Yerevan\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> whose \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">construction permit was issued before January 1, 2022\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">you still qualify\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> for the tax refund.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">When choosing new construction, always ask the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">developer\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> for the permit date — it could save you \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">hundreds of thousands of AMD per year\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">To be sure about your eligibility, consult your \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">bank\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> and \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">developer\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — they are required to provide \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">official information\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch4>\u003Cbr>\u003C\u002Fh4>\u003Ch4>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Example\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">If your monthly salary is \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 500,000\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> and your income tax rate is \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">23%\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, the government can refund around \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 115,000 per month\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — that’s \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">nearly half the monthly mortgage payment\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> under a government-supported program.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Can Non-Residents Get a Mortgage in Yerevan?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Most banks in Armenia \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">do not issue mortgages to non-residents\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">. However, there are some \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">exceptions\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> on a case-by-case basis.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Non-residents should be prepared for:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">A higher down payment\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Stricter income verification\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Details vary by bank, so it’s important to consult directly with the institution.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">FAQ: Common Questions About Mortgages in Yerevan\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Q: What documents are required to apply for a mortgage in Yerevan?\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">A:\u003C\u002Fstrong>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Passport\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Proof of income\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Employment contract\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Copy of the property (if already selected)\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Same documents for a co-borrower (if applicable)\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Q: What is the income tax refund program for mortgages?\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">A: \u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">It’s a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">government program\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> that allows you to recover a portion of the interest paid on your mortgage by refunding the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">income tax\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> you’ve already paid. As of 2025, the program is still active, but \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">only for primary market properties\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> and if you're participating in an eligible government program.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Q: Is the tax refund still available for mortgages in Yerevan?\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">A: \u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">As of 2025, \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">the income tax refund does not apply\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> to mortgages for apartments or houses in Yerevan.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Exception\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: If you're buying a unit in a new development \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">with a construction permit issued before January 1, 2022\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, the tax refund remains available.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Q: Can I apply for a mortgage online?\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">A: \u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Yes. Most banks now allow you to submit a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">preliminary application online\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> through their websites.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> You can also apply online via the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Fafm.am\u002Fen\u002Fmortgage-in-armenia\" rel=\"noopener noreferrer\" target=\"_blank\">AFM platform\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> to compare offers from different banks.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Conclusion\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">In 2025, the key strategy isn’t just finding a low interest rate — it’s choosing a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">smart mortgage\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> with \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">minimal total overpayment\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">We compared offers from leading banks — \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Unibank, Armeconombank, and Ameriabank\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">. The \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Fafm.am\u002Fen\u002Fnews\u002Fipoteka\u002Fsamye-vygodnye-ipotechnye-kredity-v-armenii-gde-minimalnye-stavki-i-nulevye-komissii\" rel=\"noopener noreferrer\" target=\"_blank\">lowest effective rates\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> start at \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">0.15%\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> (through government programs), while \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">standard market offers\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> can reach up to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">12% annually\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">What really matters is the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">effective interest rate\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, not the nominal one — it reflects the true cost of borrowing. Total mortgage cost is also affected by fees, loan term, payment type, and insurance. Even with a low nominal rate, your overpayment could be high if you ignore these factors.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Let’s recap with a real example:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Apartment price: \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 30 million\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Without government support\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: monthly payment ≈ \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 264,000\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">With government support\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: monthly payment ≈ \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 158,000\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Total savings over 20 years\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: over \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 25 million\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">If you’re not eligible for a state program, you can still reduce your rate by:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Increasing your \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">down payment\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Enrolling in a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">salary project\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Adding a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">co-borrower or guarantor\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Getting \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">voluntary insurance\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">In 2025, the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">income tax refund\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is available \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">only in the regions\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, and only if you're part of a government program. In \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Yerevan\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, it’s only allowed for properties with a construction permit \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">issued before January 1, 2022\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Pro tip:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Don’t just look for the lowest rate — look for a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">smart mortgage\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> that factors in \u003C\u002Fspan>\u003Cem style=\"background-color: transparent; color: rgb(0, 0, 0);\">all\u003C\u002Fem>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> costs. This strategy won’t just save you a few percent — it could save \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">millions of drams\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> and offer \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">peace of mind\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> for years to come.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Use AFM to find the best mortgage — get personalized recommendations and avoid unnecessary overpayments.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>","\u002Fcontent\u002Fuploads\u002Fnews\u002F4b9b1721-3a5f-47df-be51-8c278fbc754e.webp","\u002Fcontent\u002Fuploads\u002Fnews\u002Fthumbnails\u002F4b9b1721-3a5f-47df-be51-8c278fbc754e.webp","Pexels",null,"2025-04-14 00:00:00",5770,{"title":66,"slug":67},"Journal","journal",[69,72,75,78],{"title":70,"slug":71},"Mortgage","mortgage",{"title":73,"slug":74},"Ameriabank","ameriabank",{"title":76,"slug":77},"Armeconombank","armeconombank",{"title":79,"slug":80},"Unibank","unibank",{"first_name":82,"last_name":83,"full_name":84,"avatar":85,"email":86,"slug":87,"company":88,"phone":62,"title":89,"description":90,"position":91,"position_description":92,"social_links":93},"Roman","Galstyan","Roman Galstyan","\u002Fcontent\u002Fuploads\u002Favatars\u002F274267e71693c296cc5de71da4c6d5b1.webp","romangalstyan.afm@gmail.com","roman-galstyan","AFM","About the author","\u003Cp>\u003Cspan style=\"color: rgb(0, 0, 0); background-color: transparent;\">A specialist with six years of professional experience, including four years in the financial sector. Previously collaborated with international organizations and contributed to the preparation of analytical materials and reviews. At AFM, Roman focuses on clearly explaining financial products, comparing terms, and creating practical content that helps users make informed and well-considered decisions.\u003C\u002Fspan>\u003C\u002Fp>","AFM article and news Author","\u003Cp>Creates clear, verified and up-to-date content about financial products, markets, and initiatives in Armenia.\u003C\u002Fp>",[94],{"name":95,"link":96,"status":5},"linkedin","",[],{"title":99,"description":100,"keywords":101},"Mortgage in Yerevan 2025: Lowest Bank Rates and Best Government Programs","Compare mortgage rates in Yerevan, find out where to get a loan at 0.15% per year, which banks offer the best terms, and how to save millions of AMD in 2025.",[102,103,104],"mortgage in Yerevan","mortgage interest rate​ in Yerevan","government mortgage program",{"left":5,"top":5,"width":30,"height":30,"rotate":5,"vFlip":7,"hFlip":7,"body":106},"\u003Cpath fill=\"currentColor\" d=\"M5 19v-8.692q0-.384.172-.727t.474-.565l5.385-4.078q.423-.323.966-.323t.972.323l5.385 4.077q.303.222.474.566q.172.343.172.727V19q0 .402-.299.701T18 20h-3.384q-.344 0-.576-.232q-.232-.233-.232-.576v-4.769q0-.343-.232-.575q-.233-.233-.576-.233h-2q-.343 0-.575.233q-.233.232-.233.575v4.77q0 .343-.232.575T9.385 20H6q-.402 0-.701-.299T5 19\"\u002F>",{"left":5,"top":5,"width":30,"height":30,"rotate":5,"vFlip":7,"hFlip":7,"body":108},"\u003Cpath fill=\"none\" stroke=\"currentColor\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"m9 18l6-6l-6-6\"\u002F>",{"left":5,"top":5,"width":110,"height":110,"rotate":5,"vFlip":7,"hFlip":7,"body":111},14,"\u003Cg fill=\"none\">\u003Cpath fill=\"currentColor\" d=\"M7 11.529c-4.33 0-6.475-4.135-6.562-4.31a.51.51 0 0 1 0-.437C.525 6.607 2.669 2.494 7 2.494s6.475 4.113 6.563 4.288a.51.51 0 0 1 0 .437c-.088.175-2.231 4.31-6.563 4.31M1.444 7c.481.81 2.363 3.544 5.556 3.544S12.075 7.81 12.557 7C12.075 6.191 10.194 3.457 7 3.457 3.807 3.457 1.925 6.19 1.444 7\"\u002F>\n    \u003Cpath fill=\"currentColor\" d=\"M7 8.86A1.86 1.86 0 0 1 5.14 7c0-1.028.832-1.86 1.86-1.86S8.86 5.973 8.86 7 8.027 8.86 7 8.86m0-2.735A.88.88 0 0 0 6.125 7c0 .481.394.875.875.875A.88.88 0 0 0 7.875 7 .88.88 0 0 0 7 6.125\"\u002F>\u003C\u002Fg>"]