The National Guarantee Fund reported the issuance of new circulars that will help more Colombian families can access a mortgage loan for the purchase of their home.
Credit guarantees allow households support their financial obligation to credit institutions, in turn improving your risk profile.
For the president of Camacol, Sandra Forero, “secured credit is a fundamental pillar of household investment in housing. With these new lines, access to housing will be strengthened, ensuring effective financial closure for buyers. This instrument also has the great attribute of continuing to promote job creation and the recovery of the country's productive apparatus from the construction sector ”.
The guarantee of the Fund will be up to a financing percentage of the 80% of the value of the home for social interest and the 70% for No VIS.
The FNG will only guarantee one loan per debtor and the term of the loan will be that agreed between the financial intermediary and the applicant.
"With this measure, we support Colombian families in their dream of owning their own home and we encourage the construction of new homes to boost demand and ensure that the 34 sectors linked to construction generate new employment opportunities on the road to reactivation", said Raúl Buitrago, president of the National Guarantee Fund.
This is how the support by type of home corresponds:
For social housing
Households of two types, one whose monthly income is up to four current legal monthly minimum wages (4 SMLMV) and which have a current family housing subsidy. The other to households with monthly incomes higher than the four current legal monthly minimum wages (4 SMLMV). Households in these two ranges will be able to obtain a new urban low-income housing up to approximately $118 million (135 SMLMV) or up to $131 million (150 SMLMV) if they are located in urban agglomerations with more than one million inhabitants.
The National Government will subsidize the commission for households at the following levels: with monthly income up to 2 SMMLV 100% of subsidy, with monthly income greater than 2 SMMLV and up to 4 SMMLV 70% of subsidy. Households with monthly incomes greater than 4 SMMLV will not have a subsidy to the commission.
For housing No VIS
Households with monthly incomes higher than the four current legal monthly minimum wages (4 SMLMV) will be able to obtain a home up to approximately $438 million (500 SMLMV). The cost of the commission will be fully assumed by the debtor.