Housing for Young Families: State Programs and the National Mortgage Company

What the National Mortgage Company is

The National Mortgage Company (NMC, nmc.am) does not lend directly. It refinances mortgages issued by partner banks and credit organizations, giving them long-term funding in drams. State programs also run through NMC partners.

The NMC’s own products are loans to buy an apartment or house, to build and to renovate, including green loans for energy-efficient homes. The basic terms of the standard purchase loan: up to AMD 35 million, payments on all loans no more than 45% of income, a term of 10 years or more, a fixed rate in drams, and a down payment from 30% (from 10% with down payment insurance or a second pledge). The rate is set by the partner bank (nmc.am, checked on 13 September 2026).

Affordable Housing for Young Families

This state program has been running since 2010 (Government Decision No. 98-N, last amended in 2022). It is open to Armenian citizens aged 18–35: couples whose combined age is no more than 70, or a young single parent with a child.

The down payment can be reduced with an additional pledge, a guarantee from a large company or insurance on part of the down payment. Source: the text of the decision on arlis.am (checked on 13 September 2026).

Participating banks publish their own terms. For example, as of 13 September 2026 ACBA Bank lists a 7.5% rate for new builds and 7.5–8.5% for the resale market, on which the state subsidizes 2 pp in Yerevan or 4 pp outside it; loans up to AMD 27.75 million (new build) and AMD 22.5 million (resale); and a term of up to 180 months. It also lists restrictions: the borrowers’ combined net income may not exceed AMD 800,000 a month, and neither spouse may own other housing unless there is less than 18 sq m per person.

Support on the birth of a child

For families already repaying a mortgage, the state helps when a child is born: a one-off payment goes toward the loan principal (the unified services platform hartak.am, checked on 13 September 2026).

Conditions: the home is worth no more than AMD 35 million (plus AMD 5 million for the third and each subsequent child), the loan has been serviced for at least 12 months without arrears over 30 days, and you apply before the child turns one. For homes in border and certain other settlements defined by the program, support is 50% higher. If a partner bank issued the loan, it passes your data to the ministry itself. The program runs until 31 December 2026.

Down payment help in the provinces

The same 2024–2026 program for families with children includes down payment help for families with two minor children who buy a home or build a house with a mortgage in the provinces: for a purchase, 5% of the home price, capped at AMD 1 million, plus top-ups for the third and subsequent children, up to AMD 2 million in total (Public Radio of Armenia, 14 March 2024).

Other state programs through the NMC

• for contract officers and senior warrant officers — buying a home on the resale market or building a house with a 5 pp interest subsidy and AMD 2.5 million down payment compensation; participants are selected competitively by the Ministry of Defense;
• for people forcibly displaced from Nagorno-Karabakh — a support program for buying an apartment or house or building a house.

Key points

• The NMC does not lend itself — it refinances partner banks’ mortgages, including under state programs.
• Affordable Housing for Young Families: ages 18–35, homes up to AMD 30 million (new build) or AMD 25 million (resale), interest subsidy on resale purchases.
• When a child is born, the state pays off part of the debt — up to AMD 500,000, or up to AMD 2 million from the third child.
• Support for families with children runs until the end of 2026 — check the terms for 2027.
• Confirm exact rates and limits with a participating bank.