Announcement

Collapse
No announcement yet.

About 500 Young Families In Armenia Can Obtain Apartments By Governm

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • About 500 Young Families In Armenia Can Obtain Apartments By Governm

    ABOUT 500 YOUNG FAMILIES IN ARMENIA CAN OBTAIN APARTMENTS BY GOVERNMENT PROGRAM

    ARKA
    Feb 20, 2010

    YEREVAN, February 20. /ARKA/. "About 500 young families in Armenia
    can obtain apartments by government program "Available apartments
    for young families", said Mher Yedigaryan, Executive Director of
    Universal Credit Organization (UCO) "Apartments for the youth".

    "Demand of participation in the program will be rather big. The number
    of beneficiaries will be about 300 families as charter capital of our
    UCO is 3 billion drams. But I am confident that not all beneficiaries
    will take credits in maximum amount.

    Due to it, their number can vary from 300 to 500", said Yedigaryan. On
    January 20, 2010 the Government of Armenia approved the program
    "Available apartments for young families". According to the
    requirements of the program, young families where the age of couples
    does not exceed 60 years and where each of them is not more than 35
    years of age, as well as the age of single parent does not exceed 30
    years of age can be considered beneficiaries. Maximum credit amount
    is 16 million drams. UCO "Apartments for the youth" was registered and
    awarded by the license of Armenian Central Bank on February 16, 2010.

    The program "Available apartments for young families" consists of two
    components and is aimed at the provision of mortgage loans to young
    families for buying apartment by available prices.

    "The first component of the program is funding of percent rates by
    the government. Second component is provision of cheap resources
    to credit organizations, on the account of which creditors can give
    credits to young families by available prices", said Yedigaryan.

    Beneficiaries should apply to the banks, pass preliminary qualification
    and in accordance with the defined criteria they will receive mortgage
    loans at low interest rates. After it UCO will re-fund the credits.

    Credits will be provided to the families by percent rate of 10.5%,
    from which 2% will be subsidized by the Government of Armenia.

    Pre-payment size will be 30%.

    Families wanting to get credit should follow certain conditions;
    especially their monthly income should be not less than 300-350
    thousand drams. This amount will include not only the income of the
    family but also relatives assisting them. ($1 - 381.58 drams)
Working...
X