VTB Bank (Armenia) Mortgages

• Mortgage for primary housing (new developments) - rate, amount, term, down payment
• Mortgage for secondary housing - rate, amount, term, down payment
• Mortgage refinancing - terms, minimum rate
• State-supported mortgage - if applicable for the bank
• Construction mortgage - if applicable

• Apartment in a new development (primary market)
• Apartment on the secondary market
• Private house / cottage
• Land plot (depends on the bank)
• Commercial real estate (depends on the bank)

• Citizenship of the Republic of Armenia (or residence permit - depends on the bank)
• At least 18 years old at the time of application and no older than 63 at the time of loan repayment
• Officially confirmed source of income
• Employment history at the current workplace - from 12 months
• Positive credit history
• Registration in Armenia

Standard package:

• Passport of a citizen of the Republic of Armenia
• Proof of income (bank form or equivalent income statement)
• Employment contract or employment record
• Documents for the property being purchased

Extended package (if required):

• Documents of a co-borrower / guarantor
• Documents for pledged property (if existing real estate is used as collateral)
• Documents confirming the borrower's own contribution

Step 1 - Compare VTB Bank (Armenia) programs with offers from other banks in Armenia on AFM.am

Step 2 - Choose a suitable program and calculate the payment using the mortgage calculator

Step 3 - Prepare the required documents

Step 4 - Submit an online application on the bank's website or visit a branch

Step 5 - Wait for the bank's decision and provide the original documents

Step 6 - Sign the agreement and arrange insurance and the property pledge

• Life and disability insurance
• Property insurance (mandatory)
• Down payment of 30% or more
• Salary customer of the bank
• Electronic registration of the transaction (if supported)

Pros:

• ✓ 2 mortgage programs for different purposes
• ✓ Online application without visiting a branch
• ✓ Decision within 5 business days
• ✓ Early repayment without penalties
• ✓ Possibility of involving a co-borrower

Cons:

• ✗ Mandatory insurance of the pledged property

1. What Mortgage Programs Does VTB Bank (Armenia) Offer?

   VTB Bank (Armenia) offers 2 mortgage programs: mortgages for primary housing, mortgages for secondary housing, refinancing. Rates start from 13.3%, amounts are available up to 200000000 AMD, and terms are up to 30 years.

2. What Is the Minimum Mortgage Rate at VTB Bank (Armenia)?

   The minimum annual rate is 13.3%. The APR for the most favorable programs starts from 12.5%. The final rate depends on the program, amount, term, down payment, and the borrower's credit history.

3. What Is the Minimum Down Payment for a Mortgage?

   The minimum down payment is 10% of the property value. Under some programs, a mortgage without a down payment may be available if existing property is pledged as collateral. Check the exact terms on the VTB Bank (Armenia) website.

4. What Is the Maximum Mortgage Amount Available at VTB Bank (Armenia)?

   The maximum mortgage loan amount is 200000000 AMD. The final limit is determined individually by the bank based on the borrower's creditworthiness and the value of the collateral.

5. What Property Can Be Purchased with a VTB Bank (Armenia) Mortgage?

   The bank finances the purchase of apartments on the primary and secondary markets, private houses, and cottages.

6. What Are VTB Bank (Armenia)'s Requirements for Mortgage Borrowers?

   Citizenship of the Republic of Armenia, at least 18 years old at the time of application and no older than 63 at the time of loan repayment, stable confirmed income, employment history of at least 12 months, and a positive credit history.

7. What Documents Are Required to Get a Mortgage?

   Passport of a citizen of the Republic of Armenia, proof of income, employment contract, and documents for the property being purchased. If a co-borrower is involved, the same package of documents is required from them.

8. How Can I Apply for a Mortgage at VTB Bank (Armenia)?

   On AFM.am, compare all VTB Bank (Armenia) programs with offers from other banks in Armenia. After choosing a program, go to the bank's website to submit an online application or visit the nearest branch.

9. Can I Repay a VTB Bank (Armenia) Mortgage Early?

   Yes, full or partial early repayment is available through the mobile application or at a bank branch. The bank will recalculate the remaining interest as of the repayment date. There are no penalties for early repayment.

10. Is Property Insurance Mandatory for a Mortgage?

    Insurance of the pledged property is mandatory under the legislation of the Republic of Armenia. Life and disability insurance for the borrower is generally optional, but taking out such insurance may reduce the interest rate.