Preferential Mortgage Loan for Contractual Military Personnel: Details

The government decided to amend one of its resolutions during today’s meeting on July 28, allowing military personnel to obtain preferential mortgage loans.

The issue was presented by Deputy Minister of Defense Arman Sargsyan, who noted, “It is planned to provide contractual military personnel from the system of the Ministry of Defense with the opportunity to benefit from long-term and preferential mortgage financing programs to purchase an apartment or residential house or to construct a residential house, for all military personnel who applied in 2022.”

Accordingly, 526 servicemen will be provided with the necessary certificates for financing. The draft resolution also prioritizes military personnel from the commanding and senior subordinate ranks who were accepted into military educational institutions before July 1, 2022, and who serve under post-educational contracts, if they apply within five years after graduation.

In turn, Deputy Prime Minister Hambardzum Matevosyan elaborated that the state subsidizes 10 percent of the principal amount of the purchased properties and 3 percent of the 7 percent interest rate on the loan.