Important Innovations Regarding One-Time Childcare and Birth Benefits Starting July 1: Avinyan

The Deputy Prime Minister and Chief of the Emergency Situations Committee of Armenia, Tigran Avinyan, has made a post on his Facebook page addressing significant innovations regarding the one-time childbirth and childcare benefits.

"Recently, I presented important innovations related to the one-time childbirth and childcare benefits starting from July 1. Now let's focus on the new housing assistance programs for families with children.

One-time financial assistance for purchasing housing in rural areas is provided once and is directed towards funding the down payment for a mortgage loan. You are eligible for this program if:

• You have purchased residential real estate in rural areas through a mortgage loan after July 1, 2020,
• You have at least 2 minor children,
• The value of the purchased residential property does not exceed 30 million AMD.

The maximum value of real estate increases by an additional 5 million AMD for each subsequent child beyond the third. The maximum amount of one-time financial assistance is:

• Up to 1 million AMD if you are over 30 years old. Moreover, for each third and subsequent child, the support increases by up to 500,000 AMD (with a maximum amount of 2 million AMD),
• Up to 2.6 million AMD if you are below 30 years old.

Additionally, one-time financial assistance due to childbirth is provided to families repaying a mortgage loan. This is available upon the birth of a child and is directed towards repaying the remaining principal of the mortgage loan. You are eligible for this program if:

• Your child was born on or after July 1, 2020,
• You have made mortgage repayments for at least 12 months, and the total number of overdue days on the mortgage during the last 12 months does not exceed 30 calendar days,
• The value of the purchased residential property does not exceed 30 million AMD.

The maximum amount of one-time financial assistance is:

• Up to 500,000 AMD if you are over 25 years old and the child is the first or second born,
• Up to 2 million AMD if you are over 25 years old and the child is the third or subsequent child,
• Up to 1.5 million AMD if you are under 25 years old and the child is the first or second born,
• Up to 4 million AMD if you are under 25 years old and the child is the third or subsequent child,

Avinyan stated.