Mortgage loan calculator
Your loan
Monthly payment
228 643֏ /mo
Goes toward your principal22 303 ֏10%
Interest to the bank201 370 ֏88%
Insurance and servicing4 970 ֏2%
First payment. Later the interest share falls and the principal share grows.
Rate13.68%
Loan amount20 000 000 ֏
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%
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mo.
Loan-to-value ratio — 80.00 %. Above 70 % some banks raise the rate by 0.7 points.
Where the money goes
What the rate is made of
13.68%Annual Percentage Rate
Nominal rate12.25%
Fees and insurance+1.43 pp
Your deal terms: −0.25 ppThis is the name the law gives it and the figure your contract will carry. It includes everything you pay for the loan.
Total amount payable
55 110 391 ֏Principal 20 000 000 ֏ plus everything above it
Loan amount20 000 000 ֏
Total cost of credit35 110 391 ֏
Minimum income required508 096 ֏
176 % more than you borrowed, over 20 years
How the debt is repaid
Interest, principal and the outstanding balance, year by year
| Year | Payments, ֏ | Interest, ֏ | Principal, ֏ | Insurance, ֏ | Balance, ֏ | Principal share |
|---|---|---|---|---|---|---|
| 1 | 2 684 080 | 2 435 801 | 248 279 | 84 000 | 19 751 721 | |
| 2 | 2 684 080 | 2 405 049 | 279 030 | 82 957 | 19 472 691 | |
| 3 | 2 684 080 | 2 366 242 | 317 838 | 81 785 | 19 154 853 | |
| 4 | 2 684 080 | 2 326 256 | 357 824 | 80 450 | 18 797 029 | |
| 5 | 2 684 080 | 2 279 876 | 404 204 | 78 948 | 18 392 825 | |
| 6 | 2 684 080 | 2 228 828 | 455 251 | 77 250 | 17 937 574 | |
| 7 | 2 684 080 | 2 167 361 | 516 719 | 75 338 | 17 420 855 | |
| 8 | 2 684 080 | 2 101 501 | 582 579 | 73 168 | 16 838 276 | |
| 9 | 2 684 080 | 2 025 989 | 658 091 | 70 721 | 16 180 185 | |
| 10 | 2 684 080 | 1 941 894 | 742 186 | 67 957 | 15 437 999 | |
| 11 | 2 684 080 | 1 843 531 | 840 549 | 64 840 | 14 597 450 | |
| 12 | 2 684 080 | 1 735 540 | 948 540 | 61 309 | 13 648 910 | |
| 13 | 2 684 080 | 1 612 593 | 1 071 487 | 57 325 | 12 577 423 | |
| 14 | 2 684 080 | 1 474 689 | 1 209 390 | 52 825 | 11 368 033 | |
| 15 | 2 684 080 | 1 316 249 | 1 367 831 | 47 746 | 10 000 202 | |
| 16 | 2 684 080 | 1 139 659 | 1 544 421 | 42 001 | 8 455 782 | |
| 17 | 2 684 080 | 939 476 | 1 744 603 | 35 514 | 6 711 178 | |
| 18 | 2 684 080 | 713 957 | 1 970 123 | 28 187 | 4 741 055 | |
| 19 | 2 684 080 | 457 696 | 2 226 384 | 19 912 | 2 514 671 | |
| 20 | 2 684 080 | 169 409 | 2 514 671 | 10 562 | 0 |
What refines the calculation
Salary is paid into this bankSalary project−0.25 pp
You arrange the insurance yourselfRather than through the bank−0.05 pp
Down payment 10 points above standardDiscount for a low loan-to-value ratio−0.50 pp
Secondary marketProperty not from a developer+0.30 pp
No energy efficiency certificateClass below B+0.50 pp
Differentiated scheduleInstead of annuity+0.50 pp
No early repayment feeThe bank charges a rate premium for this+0.50 pp
The bank insures the down paymentWhen the down payment is below the minimum+0.55 pp
Loan-to-value ratio above 70 %Or the payment exceeds 50 % of income+0.70 pp
Loan above AMD 35 million or property above AMD 55 millionThe largest single markup+2.50 pp
These are what turn the advertised rate into the contract rate. Under CBA Regulation 8/01, point 4, mandatory fees enter the APR calculation.
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Shirak, Lori, Tavush, Gegharkunik, Vayots Dzor, Syunik. Ends for loans received from 01.01.2029.
New build, bought directly from the developerThe secondary market is outside the programme
Formal employment and income tax paidThe refund comes out of your own tax and cannot exceed it
Property price no higher than AMD 55 millionThe statutory price ceiling for the programme
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Refunded over the whole term
21 415 241 ֏
No more than the interest paid and no more than your tax
Questions about this calculation
Answers with references to the legislation. Open as many as you like.
- The advertised rate is interest only. The contract carries the Annual Percentage Rate, which includes everything you pay for the loan: the disbursement fee, appraisal, notary, cadastre and mandatory insurance. Then there is the accrual itself: interest is charged monthly while the rate is expressed per annum, and intra-year compounding adds a little more. So even with zero fees, 12.50 % per annum comes to 13.24 % APR.RA Law on Consumer Crediting, Art. 14; CBA Board Regulation 8/01, point 4 — the payments included in the calculation
- It is the single figure that reduces every condition of a loan to one number, so two offers from different banks are comparable only through it. The bank must state it in the contract, and you must write it in by hand. The formula is set by law, not by the bank.RA Law on Consumer Crediting, Art. 13 and Art. 14; CBA Board Regulation 8/01, point 3 — the formula
- Fees and insurance are ranges taken from the published tariffs of nine Armenian banks. A bank changes them by board decision on any day, which is why they are fields here: enter the figures from your own offer and the calculation becomes yours rather than an average. No daily source for rates exists — the Central Bank compiles them monthly, and banks themselves change tariffs less often than daily.
- Anyone formally employed and paying income tax in Armenia who buys a new build directly from the developer within the AMD 55 m price ceiling. The refund comes out of your own tax and cannot exceed it: if AMD 300,000 was withheld from you in a quarter, no more than AMD 300,000 comes back, even if you paid more interest. The upper limit is AMD 750,000 per quarter.RA Tax Code, Art. 160, part 2, point 2.1; RA Government Decision No. 1321-Ն of 05.10.2017
- The programme is being wound down on a schedule fixed in the Tax Code, so the dates are known in advance. In Yerevan the refund is already gone — for contracts from 1 January 2025, except buildings permitted before 2022. In Aragatsotn, Ararat, Armavir and Kotayk it ends for loans received from 1 January 2027. In the remaining regions, from 1 January 2029. Border settlements on the Government list keep the right with no end date. A contract signed before the cut-off keeps the refund for the whole loan term.RA Tax Code, Art. 160, part 2, point 4, sub-points «ե» and «զ»
- Yes, and this is your right under the law rather than a courtesy: you may terminate a consumer credit contract unilaterally and without giving any reason within seven working days of signing it, unless the contract itself allows a longer period. You return the money and pay interest only for the days you actually used it, at the annual percentage rate stated in the contract. The bank may not demand any other compensation for the termination.RA Law on Consumer Crediting, Art. 9 — the right to terminate within seven working days
This calculation is indicative and is not an offer from a bank. Final terms are set by the bank after assessing your solvency, the collateral and your credit history. Rates, fees and insurance are bank tariffs rather than statutory figures: a bank changes them by board decision, and the values here should be checked with your own bank.