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National Mortgage Company EE Improvement Repair Loan, My Roof

1.	Eligibility	RA residents aged 18– 63 who during the loan period will not turn 63 or the loan will be shared by a co-borrower who meets these requirements.
2.	Loan currency	AMD
3.	Loan amount	AMD 3,000,000 – AMD 15,000,000
4.	Loan repayment period	60-84 months
5.	Nominal interest rate per annum	12.5%
		If the borrower's life and property insurance is implemented by the Bank for the borrower (to be implemented started the second year of the loan period)	Mentioned interest rate + 0.4%
6.	Loan-to-Income ratio /OTI/	45%
7.	Loan security	A loan amount from AMD 3 mln to AMD 5 mln, without collateral: at least a surety bond of an individual (if the borrower has no bank loan secured by real property). A loan amount from AMD 3 mln to AMD 7 mln, without collateral: at least a surety bond of an individual (if the borrower has a bank loan secured by real property). A loan amount from AMD 7 mln to AMD 15 mln, the real property under renovation should serve as loan security.
8.	Prepayment penalty	Not applicable
9.	Penalty for late payment of interest and principal amount	For past due principal amount - 0,015 % per day, For past due interest amount - 0,1 % per day.
10.	Loan-to-Value ratio	Up to 70% of the appraised value of the real property
11.	Loan disbursement method	Non-cash In a lump sum or in several tranches
12.	Bank fees	No fees will be charged
13.	Other conditions	At least 30% of the loan amount must be used for energy-efficient improvement of the home/apartment and replacement of old household appliances with new ones. The share of household appliances cannot exceed 10% of the total loan amount. Under the Program, the renovation loan estimate should be prepared using the energy efficiency assessment tool. For the past 12 months the number of days past due should not exceed 30.
14.	Insurance	Insurance of the pledged real property covering at least the loan amount. Borrowers’ life insurance to cover at least the loan amount. In case of acquisition of solar panels: insurance of solar panels to cover the cost of solar panel purchasing.