2023-10-01 23:16:42
The minister of Housing, Catalina Velasco, together with the president of the National Savings Fund, FNA, Laura Milena Roa, and the president of Findeter, Juan Carlos Muñoz Pachecoannounced a few days ago an investment of $2.5 billion to reactivate the construction sector in Colombia.
“The Builder Credit is aimed at housing, VIS and VIP in the country. We hope to reduce the housing deficit in the country to 26%. By 2025, $1 billion in credit will have been placed,” said the president of the FNA.
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The main objective of this line of credit is to support the financing of social interest housing (VIS) and priority interest housing (VIP). The proposal will allow builders to access financing in two modalities: in Real Value Unit (UVR) or in national currency (Colombian pesos).
Regarding the duration of the credit, this will be linked to the work execution periodwith the possibility of be extended up to six additional months through an extension, which in total can last up to two years. In terms of interest rates, builders will have the option to choose between two alternatives: a rate linked to the UVR with an increase of the 7,7%or a fixed rate in Colombian pesos at 18%.
A notable element of this initiative is that it will guarantee reduction of 100 basis points compared to current market interest rates, which represents a significant incentive for builders seeking financing for construction projects. VIS and VIP housing.
Please note that the preferential rate for purchase of Priority Interest Housing They will be able to finance up to 80% of the value of the property with a term of 30 years.
To be able to access them, interested parties must have the initial fee of at least $21 million. The monthly installments of these credits will be $300,000, including insurance.
This new line of credit from the Government will be valid until June 30, 2024 or until the $500,000 million in credits.
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