For the first time, VTB Bank (Armenia), within the framework of cooperation with the insurance company Sil Insurance, begins to provide mortgage loans with low prepayment within the framework of the program “Housing for young families” with the condition of insurance of prepayment.

This type of insurance makes it possible to reduce the amount of the prepayment in the framework of the “Housing for young families” mortgage program and set it at 10% without the need to provide additional collateral for real estate. Until now, low prepayment under the “Housing for young families” mortgage program was possible only if additional real estate was provided as an additional collateral.

The insurance premium is 2% per annum of the difference between the minimum required prepayment and the actual prepayment that the client is ready to make, and is paid by the client at the time of receiving the loan. It is noteworthy that as soon as the value of the loan / collateral reaches 70% as a result of subsequent repayments of the loan (80% when purchasing property from the developer), the insurance premium is no longer paid, i.e. the insurance is valid until the client with his payments (including after receiving the loan) reaches the required prepayment amount.

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