Many people believe that young people are not interested in buying housing. Real estate portals believe otherwise. Young people are looking for information and need mortgage loans.
Young people are looking for homes in small areas. They have money saved and need a mortgage loan. They prefer little space: a basic kitchen (some prefer to ask at home instead of cooking), a good sofa, a nice bathroom and a space to rest.
40 m2 is one of the most sought after areas in real estate portals.
Is the market ready to meet this demand?
Special Government Programs
The government, within the MiVivienda Program, plans that young people will be able to use the benefits of law to get their first home. The interesting thing about this program is the subsidy , a money that the government contributes so that people can make the purchase.
The subsidy, called Good Payor Bonus, can be up to S / 17,700. It works inversely proportionally: the lower the value of the home, the greater the bonus; The higher the value of the home, the lower the bonus.
It is logical: if you aspire to a department of S / 310,800 thousand, it is presumed that you have resources to pay the initial fee and the debt. However, the government wants to boost you with a subsidy. The least you could receive is S / 6,400. Nothing bad.
In addition, for special homes, a special subsidy applies: the Green Bond. If the house is within the parameters of ecological housing, you could receive a Green Bonus. The value will depend on the degree of certification of the project.
- This subsidy program applies if you do not own any housing and have never acquired one with resources from the Housing Fund.
- Applies to buy flat, premiere or used housing and would finance with mortgage credit.
- It gives you a grace period of six months (on blueprints or under construction) before you start paying the first installment of the loan, time that you can use to pay for furniture and appliances.
Special products of financial institutions
Financial institutions have created different products to offer young people mortgage loans.
- BBVA, for example, has the “Free” Mortgage Credit, to take it with the couple, friends or family. This is an interesting possibility. It is about doing a good business, joining efforts and sharing responsibilities: when submitting the application, the bank will verify that the income of the couple or the group of friends is sufficient to cover the monthly fee; the property will remain in the name of each and everyone responds for a portion of the fee.
- Silverpocket bank has the Entrepreneurial Mortgage Credit, designed for young entrepreneurs. You can borrow up to S / 1,200,000! At 20 years and contributing 25% as initial fee.
- Savebank has a product called House Savings, with which you can support up to 50% of the initial fee. Also, it is possible to show income with remittances, if someone supports you from abroad.
- Grace Bank, BBP and Mary Bank lend you if you have already turned 20 or older, you have income from S / 1,500, you want to buy alone or with someone else, a future good or a used one.
As you can see, the range of possibilities is wide. What is the best mortgage loan? The one that suits your conditions and gives you the best interest rate for your current moment.
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