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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":87,"banners":103,"seo":104},45,"How the Mortgage Income Tax Refund Program Works in Armenia: Terms and Changes Starting from 2025","\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Mortgage Income Tax Refund Program\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is currently one of the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">most beneficial government support tools\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> for citizens purchasing real estate in Armenia. It allows you to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">reclaim a significant portion of mortgage interest payments\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, effectively bringing your interest rate \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">close to 0%\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);\">In this article, we explain \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">who is eligible\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">how the refund mechanism works\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);\">what has changed since January 1, 2025\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">What Is the Mortgage Income Tax Refund Program?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">This is a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">state program\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> launched on \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">November 1, 2014\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which allows citizens to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">recover the amount paid in mortgage interest\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> through an \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">offset against personal income tax (PIT)\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);\">If you are \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">officially employed\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> and pay income tax in Armenia, the government will \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">refund the interest amount you’ve paid to the bank\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, up to the amount of your annual tax liability.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Who Is Eligible for the Program?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Current eligibility criteria:\u003C\u002Fstrong>\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);\">You are a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">citizen of Armenia\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);\">another country\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> planning to buy property in Armenia.\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);\">You are purchasing a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">newly built apartment from a developer\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);\">building a private home\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> yourself.\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);\">For purchases 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);\">, the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">construction must have started before January 1, 2022\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);\">You are \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">officially employed\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> and pay \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">personal income tax\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> in Armenia.\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);\">You are \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">45 years old or younger\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> at the time of application.\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);\">Starting from \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">January 2025\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, the property \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">must be located outside Yerevan\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">. Previously, properties in the capital were also eligible.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Can Foreign Citizens Receive a Tax Refund on a Mortgage in Armenia?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Yes\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, foreign citizens \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">can participate\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> in the income tax refund program \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">if they meet the following 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);\">Tax residency\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: You must be a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">tax resident of Armenia\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which means residing in the country for \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">at least 183 days within a calendar year\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>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Official employment\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: You must have a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">formal employment contract\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);\">pay income tax\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> in Armenia.\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);\">Property purchase\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: You must purchase \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">newly built housing\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> that meets the program’s requirements.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Therefore, foreign nationals who are \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">tax residents\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);\">officially employed in Armenia\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> may benefit from the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">mortgage income tax refund program\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, as long as their property meets the criteria.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">How Does the Income Tax Refund Mechanism Work?\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"ordered\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">You take out a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">mortgage loan\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> from any bank, under any program.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"ordered\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">You begin \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">paying interest\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> on the loan and \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">paying income tax\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> simultaneously.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"ordered\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The government \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">reimburses the interest payments\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> you make — up to the amount of income tax you paid — \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">on a quarterly basis\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"ordered\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The refund continues \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">as long as you pay both mortgage interest and income tax\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> in Armenia.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Ch4>\u003Cbr>\u003C\u002Fh4>\u003Ch4>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Example 1:\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">If you paid \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 1,200,000\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> in income tax over the year and your annual mortgage interest was \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 1,000,000\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, you would receive \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">the full AMD 1,000,000 back\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Example 2:\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">If you paid \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 700,000\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> in income tax and your mortgage interest was \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 1,000,000\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, you would only get \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 700,000 refunded\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);\"> The remaining \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 300,000 is not compensated\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);\">does not carry over\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> to the next year.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The government does \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);\"> refund the full amount of mortgage interest — it only refunds \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">up to the total amount of income tax you paid\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> for the year.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The refund is strictly \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">limited to the amount of tax paid\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Program Terms\u003C\u002Fstrong>\u003C\u002Fh2>\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);\">Conditions\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"2\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Maximum loan amount\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"2\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Not limited (the benefit applies to properties valued up to AMD 55 million)\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"3\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Interest rate\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"3\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The full amount of paid interest is refunded — effective rate = \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">0%\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"4\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Down payment\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"4\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Not set by the program (depends on bank terms)\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"5\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Loan term\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"5\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">No restrictions\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd data-row=\"6\">\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Additional benefits\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd data-row=\"6\">\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Income tax refund on the amount of interest paid\u003C\u002Fspan>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Bank Requirements for Down Payment\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Most banks in Armenia require a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">down payment ranging from 10% to 30%\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> of the property’s value. For example:\u003C\u002Fspan>\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);\">ACBA Bank\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Ardshinbank\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Ameriabank\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — minimum down payment typically \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">10–15%\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);\">\u003Ca href=\"https:\u002F\u002Fwww.inecobank.am\u002Fhy\u002FIndividual\u002Fmortgage-loans\" rel=\"noopener noreferrer\" target=\"_blank\">Inecobank\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AraratBank\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — depending on income and type of property, the down payment may reach \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">up to 30%\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">In some cases, especially under \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">government programs\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, banks may offer \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">preferential terms\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, such as \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">reduced or deferred down payments\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);\">However, not everyone is able to save up such an amount immediately — this is especially true for \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">young families\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);\">first-time homebuyers\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">. In such cases, there are \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">alternative solutions\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> available.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">What If You Don’t Have Enough for a Down Payment?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">If you don’t have the required amount for a down payment, the following options may help:\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);\">Collateral in the form of other property\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — if you or your relatives own another apartment or commercial property, it can be used as security for the loan.\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);\">Adding a co-borrower\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — this increases the family’s total solvency and can positively affect loan terms.\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);\">Installment plan or subsidy from the developer\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — some developers offer to split the down payment into parts or cover part of it through agreements with partner banks.\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);\">Support programs\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — youth, family, and regional support programs often provide more favorable conditions.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Who Are Co-Borrowers and Why Is It Beneficial?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Co-borrowers\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> are individuals who share legal responsibility with the main borrower for loan repayment. In most cases, this is a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">spouse\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, but it may also be another \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">close relative\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);\">Benefits of co-borrowers:\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);\">Improve the overall \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">creditworthiness\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> of the family\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);\">May help you qualify for a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">larger loan\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);\">better terms\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> (e.g., lower rate or smaller down payment)\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);\">Share \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">legal responsibility\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> for the mortgage\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">What Changed on January 1, 2025?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">According to a government decision, starting \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">January 1, 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);\">program no longer applies to the purchase of newly built apartments in Yerevan\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">What does this mean?\u003C\u002Fstrong>\u003C\u002Fh4>\u003Ch4>\u003Cbr>\u003C\u002Fh4>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">If you signed the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">purchase agreement before December 31, 2024\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, you retain the right to receive income tax refunds \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">for the full term of the mortgage\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);\">If you sign the agreement \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">after January 1, 2025\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">:\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\" class=\"ql-indent-1\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">When purchasing \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">housing in Yerevan\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">no tax refund\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> will be available.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\" class=\"ql-indent-1\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">When purchasing \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">housing in regions\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> or in \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">buildings where construction began before 2022\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — the program \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">will still apply\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">What Is the Main Benefit of the Program?\u003C\u002Fstrong>\u003C\u002Fh3>\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);\">You \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">pay less interest\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> to the bank (depending on how much income tax you pay).\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 \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">longer the loan term\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> (e.g. 15–20 years), the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">greater the benefit\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);\">You can \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">save hundreds of thousands of drams each year\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — and use that money for \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">renovations, furniture, or early loan repayment\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Ch4>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Example:\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Let’s say you take out a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">mortgage for AMD 25 million\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, with 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);\"> (AMD 6.25 million), at an \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">8% annual interest rate\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);\">20 years\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);\"> In this case, you pay the bank around \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 2 million per year in interest\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);\">If your \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">annual gross income\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 4.8 million\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> (about \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 320,000 net per month\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">), your annual income tax would be \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 960,000\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — and you would receive \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">the full AMD 960,000 back\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> every year.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">This effectively reduces your \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">interest rate close to 0%\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">How to Use the Program?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Col>\u003Cli data-list=\"ordered\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Check your eligibility\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">: under 45 years old, buying \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">newly built housing\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, construction started \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">before 2022\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> (or property \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">outside Yerevan\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">).\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"ordered\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Apply for a mortgage\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> at a bank.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"ordered\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Use the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AFM platform\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, \u003C\u002Fspan>\u003Ca href=\"https:\u002F\u002Fafm.am\u002Fen\u002Fmortgage-in-armenia\" rel=\"noopener noreferrer\" target=\"_blank\" style=\"background-color: transparent; color: rgb(0, 0, 0);\">section \u003C\u002Fa>\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\">“Mortgage”\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, to compare all offers in Armenia — it’s fast and easy to find the most favorable terms.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"ordered\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Submit your application\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> to the Tax Service along with copies of your mortgage agreement and required documents.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"ordered\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Receive your refund quarterly\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — directly to your card.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">How Many Families Have Used the Program?\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">According to Armenia’s Ministry of Finance, \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">more than 38,000 families\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> have used the program since its launch in \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">2014\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);\">Preliminary estimates show that the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">average annual refund\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> ranges from \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AMD 500,000 to AMD 1.2 million\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, depending on the borrower’s income.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Tips for Those Planning to Take Out a Mortgage\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);\">If you're considering buying in the regions\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, the program \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">remains active after 2025\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>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Analyze long-term real estate trends\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">. Study forecasts on property prices and rental rates — this will help you assess whether it’s a smart time to buy.\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);\">Don’t focus only on the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">purchase price\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — consider the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">potential tax refund on interest\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which can save you \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">up to 30–40% of the total loan cost\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> over time.\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);\">Plan your budget with future income changes in mind\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">. For long-term mortgages, it's important to prepare for potential increases or decreases in income to avoid financial stress later.\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);\">Explore early repayment options\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">. This can significantly reduce overpayment on interest, especially if your loan allows \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">extra payments without penalties\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Want more ways to save on interest rates? Check out our article for additional tips.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Conclusion\u003C\u002Fstrong>\u003C\u002Fh2>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">mortgage income tax refund program in Armenia\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is a powerful tool to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">reduce your financial burden\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> when purchasing a home. \u003C\u002Fspan>It is compatible with \u003Ca href=\"https:\u002F\u002Fafm.am\u002Fen\u002Fnews\u002Fipoteka\u002Fipoteka-s-gospodderzhkoj-v-armenii-polnyj-obzor-vseh-dejstvuyushih-programm\" rel=\"noopener noreferrer\" target=\"_blank\">all government support programs\u003C\u002Fa>, including the \u003Ca href=\"https:\u002F\u002Fafm.am\u002Fen\u002Fnews\u002Fipoteka\u002Fgosprogramma-energoeffektivnogo-remonta-kak-sekonomit-na-remonte-i-snizit-scheta-za-kommunalku\" rel=\"noopener noreferrer\" target=\"_blank\">energy-efficient renovation program\u003C\u002Fa>.\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Thanks to the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">interest reimbursement mechanism\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, you may end up \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">paying little to no interest at all\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which is especially beneficial for \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">long-term loans\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);\">The program is available to citizens purchasing \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">new housing\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> and meeting certain conditions — including being \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">under 45 years old\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);\">Important change:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Since \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">January 1, 2025\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, the program no longer applies to new builds in Yerevan — unless construction started before 2022. In this case, or when buying property in \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">regional areas\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, the benefit still applies.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">If you're struggling with the down payment, there are \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">alternative solutions\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — such as \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">using other property as collateral\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);\">adding co-borrowers\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which can improve your chances of loan approval.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">One of the program's key advantages is that it’s \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">compatible with other support programs\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which means \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">even more savings\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">. Plus, you can use it with \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">any bank in Armenia\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>If you want to \u003Ca href=\"https:\u002F\u002Fafm.am\u002Fen\u002Fnews\u002Fipoteka\u002Fkak-kupit-kvartiru-v-erevane-poshagovoe-rukovodstvo\" rel=\"noopener noreferrer\" target=\"_blank\">buy an apartment in Yerevan\u003C\u002Fa>, check out our step-by-step guide.\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Share this information\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> with your friends and loved ones — someone close to you may need this opportunity right now.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Use \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AFM\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> to find the most \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">affordable mortgage\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — get personalized recommendations and take your next step toward \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">owning a home without overpaying\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">!\u003C\u002Fspan>\u003C\u002Fp>","\u002Fcontent\u002Fuploads\u002Fnews\u002F5900a594-b53f-4fb6-88e4-269aecf6afc4.webp","\u002Fcontent\u002Fuploads\u002Fnews\u002Fthumbnails\u002F5900a594-b53f-4fb6-88e4-269aecf6afc4.webp","Pexels",null,"2025-04-14 00:00:00",16093,{"title":66,"slug":67},"Journal","journal",[69,72,75,78,81,84],{"title":70,"slug":71},"Mortgage","mortgage",{"title":73,"slug":74},"Acba Bank","acba-bank",{"title":76,"slug":77},"Ameriabank","ameriabank",{"title":79,"slug":80},"Araratbank","araratbank",{"title":82,"slug":83},"Ardshinbank","ardshinbank",{"title":85,"slug":86},"Inecobank","inecobank",{"first_name":88,"last_name":89,"full_name":90,"avatar":91,"email":92,"slug":93,"company":94,"phone":62,"title":95,"description":96,"position":97,"position_description":98,"social_links":99},"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>",[100],{"name":101,"link":102,"status":5},"linkedin","",[],{"title":105,"description":106,"keywords":107},"Mortgage Income Tax Refund in Armenia: Terms and 2025 Changes Explained","Learn how the mortgage income tax refund works in Armenia and what changes will take effect starting 2025. Discover who is eligible, how much can be refunded, and regional limitations.",[108,109,110,111,112],"mortgage income tax refund Armenia","how tax refund works with mortgage","Armenia mortgage tax benefit 2025","income tax return for mortgage Armenia","mortgage support Armenia",{"left":5,"top":5,"width":30,"height":30,"rotate":5,"vFlip":7,"hFlip":7,"body":114},"\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":116},"\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":118,"height":118,"rotate":5,"vFlip":7,"hFlip":7,"body":119},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>"]