Online Mortgage Calculator
Calculate your monthly payment considering the down payment and term, and compare mortgage programs from all Armenian banks.
Calculation results
Find a mortgage
Choose the best terms from top Armenian banks
Payment schedule
| Date | Balance, ֏ | Interest, ֏ | Principal, ֏ | Payment, ֏ |
|---|---|---|---|---|
Oct 2026 payment 1 | 19 979 782 | 200 000 | 20 218 | 220 218 |
Nov 2026 payment 2 | 19 959 362 | 199 798 | 20 420 | 220 218 |
Dec 2026 payment 3 | 19 938 738 | 199 594 | 20 624 | 220 218 |
Jan 2027 payment 4 | 19 917 907 | 199 387 | 20 831 | 220 218 |
Aug 2046 payment 239 | 217 324 | 4 332 | 215 886 | 220 218 |
Sep 2046 payment 240 | 0 | 2 173 | 217 324 | 219 497 |
Mortgages in Armenia: Key Facts
Number of Offers
195
Min. Down Payment
from 0%
Max. Loan Amount
to 500 000 000 AMD
Banks on the Platform
16
Mortgage programs of Armenian banks based on your parameters
Energy-efficient renovation
0% - 16.63%
9% - 18%
to 10 000 000֏
from 0%
Energy-efficient renovation
0% - 10.31%
13% - 14%
to 10 000 000֏
from 0%
Mortgage loan for families from Artsakh
0% - 13%
10% - 13%
to 45 000 000֏
from 1%
Construction in border areas
0.01% - 0.15%
13%
to 21 000 000֏
from 0%
Housing for families from Nagorno-Karabakh.
0.02% - 0.5%
8% - 13%
to 16 000 000֏
from 1%
Housing for families from Nagorno-Karabakh.
2% - 5%
10% - 13%
to 16 000 000֏
from 1%
Affordable Housing for Young Families
2.85% - 8.66%
6.5% - 7.5%
to 27 750 000֏
from 7%
Affordable Housing for Young Families
3.16% - 11.75%
7% - 7.5%
to 27 750 000֏
from 7%
Housing for Young Families
3.28% - 9.98%
6.8% - 7.5%
to 27 750 000֏
from 7%
Affordable housing for young families
3.31% - 8.08%
7% - 7.5%
to 27 750 000֏
from 7%
Loans for Young Families
3.85% - 12.54%
7.3% - 9%
to 27 750 000֏
from 10%
Affordable housing for young families.
4.4% - 8.9%
7.5%
to 27 750 000֏
from 7%
Affordable Housing for Young Families
4.46% - 9.98%
from 3.8%
to 22 500 000֏
from 30%
Apartment for Young People
4.88% - 7.1%
8.3%
to 22 500 000֏
from 10%
Housing for military personnel.
5.67% - 9.72%
10.5% - 12.5%
to 25 650 000֏
from 10%
Affordable housing for military personnel
6.22% - 6.55%
11%
to 25 650 000֏
from 10%
for Military Personnel
6.23% - 10.58%
11% - 13%
to 25 650 000֏
from 0%
Mortgage Loan for Military Personnel
6.3% - 11.6%
11%
to 25 650 000֏
from 10%
Affordable housing for military personnel.
6.59% - 8.14%
11%
to 25 650 000֏
from 0%
Housing for military personnel.
6.6% - 7.3%
11%
to 25 650 000֏
from 10%
Housing for military personnel.
6.66% - 8.61%
11% - 13%
to 25 650 000֏
from 10%
Affordable Housing for Young Families
7.45% - 8.33%
6.9% - 7.5%
to 27 000 000֏
from 10%
House construction in border areas.
7.52% - 17.21%
13%
to 21 000 000֏
from 0%
Housing for Young Families
7.8% - 8.17%
7.5%
to 22 500 000֏
from 10%
Housing for Young Families
7.8% - 8.09%
7.5%
to 27 750 000֏
from 7%
News about mortgages
New Housing Program for Displaced Persons from Artsakh to Launch in Armenia
Total loan volume in Armenia has reached a historical high
Ardshinbank becomes the market leader by number of mortgage products in Armenia according to AFM analysis for January 2026
Real estate prices in Armenia increased by 5.5% year-on-year – Central Bank
VTB Bank changed mortgage loan terms and conditions
Citizens of Armenia will be able to pay off their loans using income tax funds
| Mortgage Purpose | Value |
|---|---|
| Secondary Market Housing (without state program) | from 10.7% |
| New Construction (without state program) | from 12.05% |
| "Affordable Housing" Program | from 2.85% |
| Zero Down Payment (with state program) | from 0% |
Step 1
Specify Property Parameters
Select the property type, enter the price, desired down payment, and loan term. If you know the rate of a specific bank, enter it. You can find current mortgage rates in Armenia in the block above.
Step 2
Review the Calculation Results
The calculator will instantly show the monthly payment, overpayment, and recommended income for mortgage approval. Click "Show Payment Schedule" to see the monthly payment structure.
Step 3
Compare Bank Offers
Below the calculator, you will find current mortgage programs from Armenian banks tailored to your conditions. Click "More Details" to study the terms of a specific bank.
A mortgage calculator is an online tool for the preliminary calculation of mortgage loan parameters. Within seconds, it displays the monthly payment, overpayment amount, total cost of the loan, and the estimated income required for application approval.
The AFM online calculator works for all Armenian banks: you set the parameters and immediately see real mortgage programs that match your criteria. This allows you to not only determine a theoretical payment but also compare which bank offers the most affordable mortgage.
What You Can Calculate:
- Monthly payment for a given property value and interest rate
- Maximum mortgage amount based on your income
- Overpayment across different terms to choose the optimal one
- Savings from early repayment
- New terms for refinancing an existing mortgage
An accurate mortgage calculation depends on five key parameters. Understanding each of them will help you choose the most optimal loan terms.
Property Value
The market price of the apartment or house. The higher the property value at the same down payment level, the more borrowed funds will be required.
Down Payment
Your own funds contributed at the time of purchase. Most Armenian banks require a down payment ranging from 10% to 30% of the property value. The higher the down payment, the lower the interest rate and monthly payment.
Loan Term
The period for which the mortgage is issued. In Armenian banks, this is typically up to 30 years. The longer the term, the lower the monthly payment, but the higher the total overpayment.
Interest Rate
Set by the bank individually; it depends on the mortgage program, down payment size, credit history, and property type.
Payment Type
Annuity (fixed) or differentiated (decreasing). This parameter determines the structure of payments throughout the entire term.
Armenian banks use two mortgage repayment schemes. The choice of scheme affects the monthly payment amount and the total overpayment.
| Parameter | Annuity | Differentiated |
|---|---|---|
| Payment Size | Fixed for the entire term | Decreases every month |
| Overpayment | Higher | Lower |
| Initial Burden | Moderate, predictable | High in the first months |
| Who it suits | Stable income | Income allows paying more at the start |
| Planning Ease | Easy | More difficult |
Example
Initial Data:
- Property value – 25,000,000 AMD
- Down payment – 20% (5,000,000 AMD)
- Loan amount – 20,000,000 AMD
- Term – 15 years (180 months)
- Interest rate – 14%
Annuity Payment
- Monthly payment ~266,000 AMD
- Total overpayment ~27,950,000 AMD
Differentiated Payment
- Monthly payment:
- starting from ~344,000 AMD
- ending at ~112,000 AMD
- Total overpayment ~21,000,000 AMD
Conclusion: Differentiated payments are more profitable in terms of total overpayment. Annuity is more convenient for family budget planning as the payment remains unchanged throughout the entire loan term.
Let's look at how the monthly payment and overpayment change depending on the loan term. Suppose you are buying an apartment worth 25,000,000 AMD. The down payment is 20% (5,000,000 AMD). The mortgage amount is 20,000,000 AMD. The interest rate is 12% per annum. The payment type is annuity.
| Parameter | 10-year term | 15-year term | 20-year term |
|---|---|---|---|
| Monthly Payment | ~287,000 AMD | ~240,000 AMD | ~220,000 AMD |
| Overpayment | ~14,440,000 AMD | ~23,200,000 AMD | ~32,800,000 AMD |
| Total Payment Amount | ~34,440,000 AMD | ~43,200,000 AMD | ~52,800,000 AMD |
The difference is clear: by reducing the term from 20 to 10 years, the borrower saves about 18,360,000 AMD in interest while the monthly payment increases by approximately 67,000 AMD. Use the calculator above to find the optimal balance between payment and overpayment for your situation.
A mortgage overpayment can range from 50% to 100% of the property value itself. However, there are several ways to lower the total cost of the loan.
Impact of the Down Payment
The larger the down payment, the smaller the loan amount and the accrued interest. With a 30% down payment instead of 10%, the loan amount and overpayment are noticeably reduced, and banks often offer a lower interest rate.
Early Repayment
Allows you to reduce either the mortgage term or the monthly payment amount. The first option saves more on interest. Early repayment conditions in Armenia may vary depending on the bank and the specific program, which depends on the terms of your contract.
Refinancing
If rates in Armenian banks have decreased, you can refinance your mortgage at another bank on more favorable terms. Calculate the benefits using the "Refinancing Calculator" mode above.
Choosing a Differentiated Payment
If your current income allows for higher payments in the early years, a differentiated scheme will reduce the total overpayment compared to an annuity scheme.
Specific requirements depend on the bank and the credit product; however, most Armenian banks set similar basic conditions.
Typical requirements:
- Citizenship of the Republic of Armenia or a residence permit
- Age: from 18-21 up to 60-65 years old at the time of final repayment
- Permanent source of income
- Registration within the territory of Armenia
- Positive credit history
What can improve the terms:
- Being a payroll client of the bank can provide more preferential terms
- Having a guarantor or co-borrower allows for an increase in the loan amount
Detailed requirements for each bank can be found in the "Mortgage" section.
The calculator uses standard mathematical formulas. For those who want to verify the calculation manually or understand the logic behind the numbers:
Annuity payment:
where S is the loan amount, r is the monthly rate (annual / 12 / 100), and n is the number of months.
Differentiated payment:
where S/n is the fixed portion for repaying the principal, S_(residue) is the remaining balance, and r is the monthly rate.
Under the differentiated scheme, the payment decreases every month because interest is calculated based on the declining principal balance.
Use the calculator above – the result is identical to a manual calculation, but you can get it in a second, along with a complete payment schedule.
A mortgage calculator is a tool that helps avoid the most common mistake made by borrowers: focusing only on the interest rate rather than the actual burden on the budget. In practice, a 1-2% difference in the rate may seem insignificant, but over 15-20 years, it translates into millions of drams in overpayments and a completely different level of monthly pressure on income.
And remember: the calculator result is a preliminary guide. The final rate and terms are determined by the bank individually after analyzing your credit history and documents.
Author: Svetlana Khachatryan, Head of Product Cluster at AFM
How to calculate a mortgage online?
Enter the property value, down payment, term, and interest rate into the calculator above. The results – monthly payment, overpayment, and total payment amount will appear instantly. Click "Show Payment Schedule" to see the breakdown of payments for each month.
How accurate is the calculator result?
The calculator provides an accurate mathematical calculation based on the parameters entered. However, the final terms—interest rate, possible fees, and insurance – are determined by the bank individually after reviewing the application. Use the calculator to compare scenarios and plan your budget.
Which payment type is more beneficial – annuity or differentiated?
In terms of total overpayment, the differentiated type is more beneficial as interest is charged on the declining balance of the debt. However, annuity is more convenient for planning, as the payment remains the same throughout the term. Calculate both options in the calculator and compare.
Can I calculate a mortgage without a down payment?
Set the down payment to 0 in the calculator. Please note that not all Armenian banks issue mortgages without a down payment, and the rate for such programs is usually higher.
What is the APR and how does it differ from the nominal rate?
The Annual Percentage Rate (APR) is the total cost of the mortgage loan, including all commissions, mandatory insurance, and other payments under the contract. The nominal rate only includes the fee for using the money. When comparing banks, use the APR as your guide.
How to calculate the maximum mortgage amount based on my income?
Use the "Calculator by Income" mode—specify your monthly income, desired term, and rate. The calculator will show the maximum loan amount where the monthly payment does not exceed 40-50% of your income.
Which banks in Armenia offer mortgages?
AFM compares mortgage programs from all licensed banks in Armenia: Ameriabank, ACBA Bank, Evocabank, IDBank, Araratbank, INECOBANK, Converse Bank, Ardshinbank, VTB Bank, Unibank, and others. After the calculation, the calculator will show current offers based on your criteria.
How often can I make early repayments on a mortgage?
There are no restrictions on frequency. Check the notification procedure and deadlines in your contract with the bank—typically 30 days before the payment date.