VIDEO: The State Will Support Families with Two or More Children in Purchasing a Home with a Mortgage

The state will assist families with two or more children in acquiring a home through mortgage financing. A project aimed at supporting families was discussed during a government meeting. Deputy Prime Minister Tigran Avinyan and Minister of Labor and Social Affairs Zarouhie Batoyan presented the details of the program.

They outlined how they plan to help families in need of housing: within the framework of the "Affordable Housing for Young Families" program, eligible recipients will be provided with a mortgage loan at a maximum of 7.5% in the primary market without any subsidies, and in the secondary market, at a maximum of 5%. Moreover, a subsidy in the amount of 2 percentage points is applied in Yerevan (meaning the loan interest for the borrower will be a maximum of 7.5%), while for mortgage loans in the regions of Armenia, a subsidy of 4 percentage points is provided (resulting in a maximum loan interest of 5.5% for borrowers in the regions).