Before investing in a new home, potential buyers need to understand the risks associated with long-term loans. Because it is part of EFSE’s mission to support access to good quality housing for low-income families, IPC was commissioned to develop an informative booklet on mortgage loans.

This publication was developed for Armenian households planning to buy a house or apartment to live in and considering whether or not to finance the purchase with a long-term loan. This brochure provides guidance on how to estimate the total cost of purchasing a home and how to determine an appropriate amount of debt. Advice is included about contract conditions such as currencies, interest rates, maturities and repayment schemes.

The brochure also offers a step-by-step guide to support decision-making, including a practical checklist of questions to ask lenders before taking out a mortgage loan as well as a checklist of what to consider before deciding on a foreign currency loan.

An informative video has also been produced based on the content developed for this project. In addition, this successful brochure was adapted to other markets and translated into eight languages as well, with around 200,000 copies in circulation among EFSE partner financial institutions.