Mortgage loan calculator
Your loan
Monthly payment
235 733֏ /mo
Goes toward your principal21 131 ֏9%
Interest to the bank209 589 ֏89%
Insurance and servicing5 013 ֏2%
First payment. Later the interest share falls and the principal share grows.
Rate14.25%
Loan amount20 000 000 ֏
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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
14.25%Annual Percentage Rate
Nominal rate12.75%
Fees and insurance+1.50 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
56 811 948 ֏Principal 20 000 000 ֏ plus everything above it
Loan amount20 000 000 ֏
Total cost of credit36 811 948 ֏
Minimum income required523 851 ֏
184 % 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 | 2 768 638 | 2 536 116 | 232 522 | 84 000 | 19 767 478 | |
| 2 | 2 768 638 | 2 506 176 | 262 462 | 83 023 | 19 505 016 | |
| 3 | 2 768 638 | 2 467 916 | 300 722 | 81 921 | 19 204 294 | |
| 4 | 2 768 638 | 2 428 520 | 340 117 | 80 658 | 18 864 177 | |
| 5 | 2 768 638 | 2 382 529 | 386 108 | 79 230 | 18 478 069 | |
| 6 | 2 768 638 | 2 331 736 | 436 901 | 77 608 | 18 041 167 | |
| 7 | 2 768 638 | 2 270 069 | 498 568 | 75 773 | 17 542 599 | |
| 8 | 2 768 638 | 2 203 825 | 564 813 | 73 679 | 16 977 787 | |
| 9 | 2 768 638 | 2 127 451 | 641 187 | 71 307 | 16 336 600 | |
| 10 | 2 768 638 | 2 042 025 | 726 612 | 68 614 | 15 609 987 | |
| 11 | 2 768 638 | 1 941 483 | 827 155 | 65 562 | 14 782 833 | |
| 12 | 2 768 638 | 1 830 648 | 937 990 | 62 088 | 13 844 843 | |
| 13 | 2 768 638 | 1 703 813 | 1 064 825 | 58 148 | 12 780 018 | |
| 14 | 2 768 638 | 1 560 869 | 1 207 769 | 53 676 | 11 572 249 | |
| 15 | 2 768 638 | 1 395 762 | 1 372 875 | 48 603 | 10 199 374 | |
| 16 | 2 768 638 | 1 210 871 | 1 557 767 | 42 837 | 8 641 607 | |
| 17 | 2 768 638 | 1 000 229 | 1 768 409 | 36 295 | 6 873 198 | |
| 18 | 2 768 638 | 761 758 | 2 006 880 | 28 867 | 4 866 318 | |
| 19 | 2 768 638 | 489 422 | 2 279 216 | 20 439 | 2 587 102 | |
| 20 | 2 768 638 | 181 536 | 2 587 102 | 10 866 | 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
21 618 585 ֏
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.