Mortgage loans 

 (purchase, repair and construction)

Loan purpose Real estate purchase, repair and construction
Loan term       Maximum 120 months
Age of the creditor     from 18 to 65 years old
Loan amount  from 200 to 800,000 USD dollars
Loan annual interest rate
1st option annual 12%
2nd option annual 10%
Loan providing fee(lump sum)* 1% of provided credit
Loan service monthly fees* 0,18% of loan balance
*It’s applied only for 2nd option when the loan is provided with annual 12%   
Loan interests and service fees calculation method Applied on the actual(non-overdue) balance of loan
Loan providing method In cash, lump sum or in phases 
Collateral      
  • Acquired real estate,
  • Additional property can be required by company as an additional collateral.
Acceptable areas of the collateral** Administrative areas of Yerevan(except for Sari Tagh, Kond, Aeratsia and priority considered areas), Surrounding areas of Yerevan (From Yerevan to Abovyan, from Yerevan to Ashtarak), Abovyan, Hrazdan, Tsakhkadzor, Ashtarak(Mughni, Karpi, Parpi, Ohanavan), Ararat, Echmiadzin, Armavir, Artashat, Masis, Dilijan, Gyumri, Vanadzor, Goris, Kapan.
**Categories include main areas acceptable for the company and other areas can be added in each category.
Loan to collateral value maximum ratio

Maximum up to 60% of liquid value of collateral  

Advance purchase up to 40%
Collateral  appraisal  

The collateral should be appraised by the licensed independent appraisal company cooperating with Fast Credit Capital UCO CJSC and/or by the company employee.

 The appraisal by the employee of the organization is free of charge.

Surety (if needed) A legal or physical entity , who the contract of suretyship is signed with and that is jointly and severally liable with the Creditor to the Organization for preformance of obligations of the Creditor (the Credit, the calculated interest, commissions, penalties, fines etc.)
Payment of principal, interests and service fee    Monthly
Payments
  • Principal amount and interest- equally (annuity)
  • Service fee- declining (if any)*
Other additional services provided by third parties* 
  • Joint certificate:10,000-22,000 AMD,
  • Collateral notarization fee:16,000-20,000AMD,
  • Collateral registration state fee:26,000 AMD.
Positive decision and the loan rejection factors Loans are provided to the individuals, who do not have any overdue obligations by the time of applying or the summary overdue obligation days during the previous 12 months before applying doesn’t exceed 60.
Maximum period to make a decision about the loan application and notifying the customer Maximum 7 days 
Overdue principal amount penalty   0,1% daily
Overdue interest penalty      0,2% daily
Overdue service fee penalty* 0,2 % daily
In case of security amount inflation, the borrower, if does not pawn a new property in a month, should pay the penalty  5% of credit balance, lump sum 
Loan provision term Maximum 3 days
Loan providing branches  
* It’s applied only for 2nd option when the loan is provided with annual 12%   

 

 

 

 

 

 

 

 

 

 

 

 

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