How to Get a Mortgage at Inecobank on the Best Terms?

Inecobank is one of the most dynamic banks in Armenia, focused on retail clients. The bank emphasizes clear products, a simplified application process, and modern customer service. It is actively developing digital tools, allowing customers to manage their loans and applications through the mobile app, and offers flexible lending terms.

Among the key advantages are:

1. Fast application review
2. Loyal approach to borrowers without credit history
3. Full digital control of loans and applications via app

How to choose the right program, where you can save money, and how to apply — we explain in detail below.

Top 5 Mortgage Programs at Inecobank with the Best Rates

Inecobank’s mortgage lending covers all major needs — from home purchase and construction to major renovations and refinancing. The bank places special emphasis on simplicity of the application process and customizing terms to match each client’s situation.

Borrowers can choose between fixed or variable interest rates, various repayment schemes, and different down payment options. Thanks to participation in state initiatives and its own programs focused on energy efficiency and support for young families, Inecobank offers real opportunities to reduce loan costs.

Here are the mortgage programs with the lowest maximum effective rates from Inecobank (in AMD):

Conclusion:

The lowest maximum rate is offered under the “Affordable Housing for Young Families” state program — starting from 7.16% annually. That’s nearly 2.5 times lower than the rates under standard programs.

Example: For a loan amount of AMD 25 million over 20 years:

1. At 7.16%, the overpayment would be approximately AMD 22 million
2. At 19.83%, the overpayment would reach around AMD 51 million
3. Savings: nearly AMD 30 million, simply by participating in a government-supported program.

State Programs Participated in by Inecobank

1. Affordable Housing for Young Families:

Mortgage loans for primary and secondary market housing with reduced interest rates. Designed for young families and single parents under 35 years old.

Rates starting from 7.16%.

1. National Mortgage Company (NMC) Program:

Loans for the purchase of energy-efficient housing, major renovations, and refinancing of previously issued mortgages. In certain cases, borrowers may benefit from a reduced down payment and more lenient application terms.

These state initiatives can lower your interest rate by 1.5–2 times compared to standard programs and help cut costs at the loan origination stage. You can find and compare all available options on AFM — the platform shows bank offers side by side by rate, loan purpose, and term.

Inecobank’s Own Mortgage Programs

In addition to participating in state-backed initiatives, Inecobank offers its own flexible mortgage solutions for home construction and even commercial real estate.

A key advantage: some mortgages are available without a down payment.

Available Mortgage Products:

1. Home purchase loans (fixed or variable rate) — for buying property on the primary or secondary market, in AMD or foreign currency.
2. Construction loans — for building a private house, with the option of a floating interest rate.
3. Renovation loans, including through the National Mortgage Company (NMC) — for major home repairs in Yerevan or other regions, including energy-efficient upgrades.
4. Refinancing existing mortgages — move your current mortgage from another bank to better terms, including refinancing for home purchase, renovation, or construction.

Each program has specific borrower requirements and terms.

To compare mortgage offers across different banks, use AFM — it’s quick and easy in just a few clicks.

Comparison: Standard Mortgage vs. Mortgage with State Support

Which Is More Cost-Effective?

Participating in programs like “Affordable Housing” or the National Mortgage Company (NMC) can help you save up to AMD 25 million over a 20-year loan term.

You can compare the most favorable mortgage loans from Inecobank and other Armenian banks — with and without government programs — on AFM.

Comparison of Popular Mortgage Programs

We’ve compiled a table of the top mortgage programs from Inecobank to help you evaluate the terms and choose the one that best fits your needs:

What to Consider When Choosing a Mortgage at Inecobank

While the interest rate is certainly important, it’s not the only factor that determines how beneficial a mortgage will be. Pay attention to the following:

1. Is the program state-supported?
2. Government-backed loans often come with lower rates and easier conditions.
3. Type of interest rate:
4. Fixed or floating — fixed rates offer more predictability over the long term.
5. Total overpayment and insurance requirements:
6. Some programs may include subsidized or mandatory insurance policies.
7. Fees and upfront costs:
8. Initial charges, application fees, and notary costs can vary by program.

If you’ve already chosen a program and are ready to proceed, be sure to review all the steps of the application process carefully.

What Fees Does Inecobank Charge When Issuing a Mortgage?

When applying for a mortgage at Inecobank, it’s important to factor in all mandatory costs associated with the transaction. The down payment ranges from 0% to 20%, depending on the specific program.

Despite generally transparent terms, the borrower is responsible for covering evaluation, notary, registration, and other service fees.

Here’s a breakdown of typical charges:

1. Application review fee: 0.5% of the loan amount, minimum AMD 60,000
2. Property appraisal: AMD 15,000 – 25,000
3. Notary services: AMD 15,000 – 40,000
4. Cadastral registration: up to AMD 45,000
5. Unified ownership certificate: up to AMD 10,000

Depending on the program, additional registration fees may apply. These costs are not always listed in the general terms, so it’s crucial to consider possible extra expenses in advance when planning your budget.

To choose the most favorable option, compare offers on AFM and calculate the full cost of the loan — this will help you avoid overpayments and secure a mortgage on fair and manageable terms.

How to Get a Mortgage at Inecobank: Step-by-Step Guide

1. Define your goal — buying, renovation, construction, or refinancing
2. Explore available programs on AFM — our database is updated regularly
3. Prepare your documents — ID/passport, property valuation, employment certificate
4. Apply to the bank and submit your application
5. Wait for approval — the review usually takes up to 10 working days
6. Sign the contract, pay the required fees, and receive your mortgage

Can You Get a Mortgage Without a Down Payment?

Yes — if you offer an additional property as collateral or purchase real estate from a partner developer. This option is also available under NMC or family-focused programs.

Can You Get a Mortgage Without a Credit History?

Yes — the bank considers applications from borrowers with no prior credit history, especially if you have official employment and a stable income.

Mandatory Expenses When Applying for a Mortgage at Inecobank

Mortgage Terms for Non-Residents at Inecobank

If you live outside Armenia but plan to buy, renovate, or build a home in the country, Inecobank offers mortgage loans to non-residents as well.

Key Conditions:

1. Mortgage is issued in USD
2. Minimum down payment: from 20%, or an additional property as collateral
3. Effective annual rate (EAR): from 10.55% to 20.85%, depending on loan purpose and selected program
4. Application fee: 0.5% of the loan amount, minimum AMD 60,000
5. Other costs (property appraisal, notary, and registration fees) are the same as for residents

Required Documents:

1. Passport or national ID Card
2. Income certificate from your country of residence
3. Credit history (if available)
4. Public service number (PSN) (if available)
5. Preliminary property appraisal

Applications must be submitted through a bank branch.

Even if you use the mobile app, the full mortgage process requires an in-person visit or direct contact with a bank representative.

FAQ: Mortgage at Inecobank

Q: Can I apply online?

A: No, mortgage applications at Inecobank must be submitted in person at a bank branch. Online applications via the website or mobile app are not available for any mortgage programs — including both standard and government-supported options. To apply, you’ll need to visit a branch, present your documents, and go through the property appraisal process.

Are there programs for young families?

Yes, Inecobank offers the state-supported program “Affordable Housing for Young Families”, available for both primary and secondary market housing.

Eligibility:

1. Both spouses must be under 70 years old, or
2. A single parent under 35 years old
3. Minimum down payment: from 10%
4. Effective annual rate: from 7.16% to 10.01%, depending on property type

What documents are required?

The standard list includes:

1. Passport or national ID of the borrower
2. Public service number (if available)
3. Employment certificate
4. Preliminary property appraisal
5. Spouse’s passport copy (if applicable)
6. Preliminary cost estimate (for renovation loans)

The bank may also request additional documents depending on the program.

Is there a penalty for early repayment?

No, early repayment of mortgage loans at Inecobank is allowed without penalties or extra fees. This applies to both partial and full repayment.

What is the maximum loan term?

The maximum mortgage term at Inecobank is up to 30 years, depending on the loan purpose and program.

1. Home purchase and refinancing: up to 30 years
2. Renovation loans: up to 13 years

Note: The borrower’s age at loan maturity must not exceed 70 years.

Conclusion

If you approach your mortgage decision thoughtfully and explore available state support programs in time, you can save tens of millions of drams. For example, choosing a rate of 7.16% instead of 19.83% on a loan of AMD 25 million could reduce your overpayment by nearly AMD 30 million. This is especially critical for young families and first-time homebuyers.

Inecobank offers flexible terms, fast approval, and supports clients without a credit history. You may also qualify without a down payment — if you provide a second property as collateral or purchase from a partner developer.

Want to save not just money, but also time?

Use the AFM platform to compare all available offers and find a mortgage with minimal costs. With us, you can learn everything about how to take out a mortgage without getting stuck in debt.

A smart choice means not just chasing a low rate — but factoring in fees, conditions, and hidden costs to make the most informed decision.