Mortgage calculator
This free mortgage calculator works out the monthly payment on a home loan in Georgia, Azerbaijan and Armenia. Pick a country and the currency (GEL, AZN, AMD) and typical terms are filled in. For Georgia it checks the National Bank's minimum down payment and payment-to-income (PTI) cap; for Azerbaijan it offers the Mortgage and Credit Guarantee Fund's state (8%) and preferential (4%) programmes with their loan limits; for Armenia it estimates the income tax refund on mortgage interest. You get the loan amount, monthly payment, total interest and a year-by-year schedule.
Sources: nbg.gov.ge (Georgia), Mortgage and Credit Guarantee Fund and bank sites (Azerbaijan), acba.am, inecobank.am (Armenia). Checked 2026-10.
How the calculation works
The loan amount = price − down payment. The payment uses the annuity formula: loan × monthly rate / (1 − (1 + monthly rate)^−months), where months = years × 12 and the monthly rate = annual rate / 12. You pay the same amount each month; early payments are mostly interest, as the schedule shows. In Georgia, enter your net monthly income to compare the payment with the PTI cap. For Azerbaijan's state programmes, the loan limit and maximum term are checked.
Worked example
Georgia: a 200,000 GEL flat with 40,000 GEL down at 11.4% over 15 years — a 160,000 GEL loan and a payment of about 1,860 GEL. Azerbaijan: 120,000 AZN with 24,000 AZN down on the 8% state mortgage over 25 years — about 741 AZN a month; on the 4% preferential rate over 30 years, about 458 AZN. Confirm exact terms with your bank.
Frequently asked questions
What is the minimum down payment in Georgia?
Since February 2025 the National Bank of Georgia allows up to 90% LTV on lari mortgages, so the minimum down payment is 10%. Foreign-currency loans are capped at 70% LTV (30% down). Banks may ask for more.
What are Azerbaijan's state and preferential mortgage terms?
Through the Mortgage and Credit Guarantee Fund: the standard state mortgage is up to 150,000 AZN at no more than 8% for up to 25 years; the preferential mortgage (young families, civil servants, teachers and other eligible groups) is up to 100,000 AZN at 4% for up to 30 years. Banks list a 20% down payment. Terms can change.
Can I get an income tax refund on an Armenian mortgage?
Under conditions, yes: for a mortgage on a newly built home or house construction, income tax withheld from salary can be refunded against interest, up to 750,000 AMD per quarter. Since 2025 it no longer applies to new purchases in most of Yerevan. The calculator shows an approximate first-year maximum.
How accurate is the result?
It's an estimate; fees, insurance and valuation costs aren't included.
Is the tool free?
Yes — completely free. Bazarla is not an official or government site.