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Know which are the sources of real estate financing that exist
Realizing the long-awaited dream of your own department is often a complicated task. Many times you do not have enough money to make the purchase. What can be done in that case? Well, the most common option is to resort to a mortgage loan, but do you know what sources of financing you have? Currently there are several alternatives, some private and others through the government.
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If what you have always wanted is to acquire a home , then Nexo Inmobiliario explains in detail which are the most convenient sources of financing and their main characteristics.
This is the most common means by which people can finance their homes. It consists of requesting support from the bank to cover the price of the apartment to be purchased. The Bank will lend an amount that covers up to 90% of the value of the home and, in this way, the purchase is made.
You must meet an initial fee that must be greater than 10%. In this sense, the higher this first payment, the lower the interest rate. You can get a term of up to 30 years to pay and the sum is paid to the bank in monthly payments.
Real Estate Leasing
It is a type of lease with an option to purchase designed for people who do not have a stable source of income and have a risk profile, for which they cannot access bank financing. In this modality, the financial entity is the owner of the leased property . Within the monthly payment that the tenant must meet, a percentage is included that will be added for the future purchase of the property.
The rent is prolonged for a period of one to two years and, then, by making payments on time, a good credit behavior is demonstrated and a mortgage loan is obtained.
One of the real estate financing programs promoted by the government is the Crédito Mivivienda . This has a very similar operation to a traditional mortgage loan. To qualify for this, it is necessary to be of legal age, not be the owner of another property , not register pending debts and have the ability to pay the initial fee equivalent to 10% of the value of the new or second-use apartment. The value of the home must be between 58,800 and 419,600 soles , with a fixed rate. Payment is made in soles with a term of up to 20 years to pay.
Without a doubt, the greatest benefit of accessing this program is the possibility of having special bonuses such as the Good Payer Bonus , which amounts to 17,700 soles . It should be noted that this credit is not limited to the purchase of apartments , but also applies to the construction of houses or their remodeling and improvement.
This is another of the government programs that is focused on helping low-income people to finance a home. As the main requirement, it is requested that people do not exceed 3,538 soles in monthly family income . Also, this is only available to people who do not yet own their own home.
The main advantage of this program is the Family Housing Bonus that is available to families. This is a bond granted by the State that, since it is a subsidy, does not need to be repaid.
It may interest you: What is a mortgage loan and how to acquire it
My Green House
The most recent of the State programs. This, as its name suggests, aims to promote the purchase of ecologically sustainable homes. The advantage of this program is access to the Green Bonus . This allows you to finance between 3% and 4% of the value of the property, depending on its level of sustainability.
The houses that participate in this project have characteristics that prioritize the efficient use of resources . This can help you save up to 30% on services like water and energy. The options available are limited to properties that are certified by this program. Likewise, for you to be able to access it, your payment capacity must be examined by a financial institution.
Currently it is also possible to use 25% of the funds of your AFP in the payment of your financing. One of the requirements to qualify for this procedure is not having any other property. Also, this must be the first time that you make use of this resource in a mortgage loan.
Now you know what are the financing sources that you can use to acquire that apartment that you want so much. Examine your options well and choose the modality that suits you best.
Nexo Inmobiliario is a portal where you can find the main real estate agencies in the country and their various projects. You can get more information on our official page.