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Income Tax Refund Calculator

Check key Article 160 conditions and estimate Armenia's quarterly mortgage income-tax refund.

Currency

AMD
100K5M

Income Tax: ֏100,000 / mo · ֏300,000 a quarter

AMD
5M500M

Within the ֏55,000,000 contract-price limit

20%AMD
10%90%
years
1 year30 years
%
5%20%

From 2025 the quarterly cap is ֏750,000, shared with co-borrowers

Conditions your bank will check

The estimate already assumes these hold. Tick what is confirmed to mark it as checked.

Read the application guide
Estimate · if eligible

Income tax back in year 1

֏100,000a month

Paid quarterly: ֏300,000 for the first quarter

Mortgage payment
֏272,674
Refund, monthly average
−֏100,000
You pay in year 1
֏172,674

What limits your refund each quarter

The refund is the lowest of three amounts. Yours is set by your income tax.

  • Income tax you pay֏300,000
  • Interest you pay (Q1)֏749,289
  • Legal cap from 2025֏750,000
  • Principal37%
  • Net Interest30%
  • Refunded by State34%
Total Refund
֏22,014,352

20 years

Share of interest covered
53%

of ֏41,441,696

Average payment after refund
֏180,947

Over the whole loan term

Estimated monthly income tax
֏100,000

20% of gross salary

Planning estimate. The State Revenue Committee decides the actual refund after you apply through your bank.

The estimate applies the quarterly minimum of eligible salary income tax, qualifying mortgage interest, and the legal cap. It assumes no interest is paid by a subsidy. The SRC portal decision and lender data control the actual refund.

Official Article 160Read the application guide

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FAQ

Income Tax Refund FAQ

Common questions about mortgage income tax refund calculations in Armenia.

The calculator assumes every eligibility item holds, so check each one with your bank. Article 160 generally covers a qualifying direct purchase or house construction, a contract price no higher than 55 million AMD, one qualifying mortgage under the post-2017 rule, and the applicable location, loan-date, valuation-zone, and permit conditions.
The estimate assumes you are eligible; your bank checks the conditions. The result is driven by eligible salary income tax paid, qualifying unsubsidized interest, the mortgage date, and the applicable quarterly cap.
The refund is assessed quarterly, not monthly. The calculator uses the lowest of estimated eligible salary income tax paid for the quarter, qualifying unsubsidized mortgage interest paid for the quarter, and the combined borrower/co-borrower cap: 1.5 million AMD for qualifying 2018–2024 mortgages or 750,000 AMD for qualifying mortgages received from 2025.
It can, because more eligible salary income tax may be available, but the refund still cannot exceed qualifying unsubsidized interest or the combined quarterly legal cap.
“You pay in year 1” is the mortgage payment after subtracting one third of the estimated first-quarter refund. “Average payment after refund” spreads all payments, minus the total refund, over every month of the loan term. Both are budgeting figures only: the legal calculation and payment happen quarterly.
Yes. Change the property price, down payment, interest rate, loan term, and salary to compare scenarios and see how the refund changes.
After estimating the payment, review new-build apartments on the site and focus on projects that match your budget, financing plan, and current program requirements.
It is the salary income tax the State gives back to you so it goes toward the interest on a qualifying mortgage. It applies only to a qualifying direct purchase of a new-build apartment or your own house construction. The refund is assessed and paid quarterly, within the legal cap shared by the borrower and co-borrowers.

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