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Don't qualify for a mortgage loan? The strategy to buy apartments in up to 100 installments - La Nacion Propiedades
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www.lanacion.com.ar
October 03, 2024
Although the real estate market outlook has changed dramatically with the return of mortgage loans, not everyone qualifies to apply for them, so developers decided to offer their own financing.
By Candle Contreras
Without a mortgage: how to buy an apartment in installments? GBJSTOCK - Shutterstock
In the midst of a real estate market that offers new forms of financing to access housing , with the return of UVA mortgage loans and the possibility of laundering cash that is outside the financial system, real estate developers do not want to be left out and provide their own forms of financing to buy a property in their own projects.
This is because properties that are undeveloped or brand new (unless they are ready to be registered) cannot be acquired through a mortgage loan , since these, precisely, require a deed in order to apply for them . It must be taken into account that new units, from the time they are finished being built until they are registered, go through a process that takes between six months and a year in CABA, and a year and a half to two in the Province.
In addition, in the words of the developers: “ Mortgage credit is not that accessible yet .” This is because “there are many obstacles in terms of the requirements to apply for it and, in Argentina, where we have a large percentage of people in the informal labor market, the bank accepts up to 25% of the salary, so many are left out, mainly the young buyer,” says Tomás Zapiola, project manager of Pacheco Central. This is why the developers decided to compete with the banks by offering their own financing .
At a time when more and more banks are issuing loans to buy homes , a developer has put up for sale a residential project with the possibility of buying any of its units in up to 100 installments , with a 30% down payment and 10% upon taking possession . A key fact is that, being self-financing, it does not require a receipt or proof of income to access it and in turn gives the possibility of paying installments in advance at no cost (in this case it is calculated at the value of the last installment paid). The value of the units ranges from US$95,000 to US$280,000 .
For example, to purchase a property worth US$115,000, a down payment of US$34,000 is required and the remaining balance can be paid in up to 100 installments. On the other hand, upon taking possession (in the 30th installment) 10% of the price is paid in pesos updated by the construction index (CAC) and the following 70 installments are calculated in UVAs plus an annual rate of 7%.
Pacheco Central is a project of eight buildings
With an investment of US$30 million , the development will transform a former orchid nursery of 15,500 m² into a new urban community in Tigre, meters from Nordelta and the Bancalari access. “The project has eight blocks of buildings with 260 units in total, which will be delivered in four stages,” says Zapiola. The first stage of the project went on sale in March of this year and has units ranging from one to four bedrooms and from 50 m² to 200 m², of which 18 have already been sold, that is, around US$2,200,000 in this first stage.
Being registered in the Real Estate Projects Registry (REPI) for investments in new constructions or with a degree of progress of up to 50%, the project is suitable for money laundering. “ We have six reserves for money laundering that will be used to pay for the entire property,” says Zapiola.
The project offers a financing plan of up to 100 installments and is suitable for money laundering.
This financing plan is available for the Prima apartments, a development by the CasasARG firm, which was built in three stages and has a total of 380 units . There is also the option of accessing a bank mortgage loan , which allows financing up to 80% of the property for 30 years .
The complex, which occupies a full block between Franklin, Gavilán, Neuquén and Boyacá Avenue, consists of seven buildings . The units available for immediate delivery include one-bedroom apartments of 50 m² , with prices starting at US$120,000 ; two-bedroom apartments of 72 m² from US$160,000 ; and three-bedroom apartments of 92 m², starting at US$220,000 .
The development that emerges as an alternative to mortgage loans had an investment of US$50 million Gentleness
Units can be financed directly with the company in fixed installments in dollars for a period of up to 48 months.Gentleness
Unlike traditional mortgage loans , which are usually adjusted by the Purchasing Value Unit (UVA), the apartments in this project are updated monthly according to the CAC index, which reflects the increase in labor and materials costs, plus an annual nominal rate of 7% , which varies according to the characteristics of the project and the delivery time.
One highlight is that the advance payment , which ranges from 20% to 25%, can be divided into three payments over two years . In addition, half of the planned units have already been sold to date , sales began before the start of the work, and the buyers chose 30-year financing .
Unlike mortgage loans granted by banks, which are adjusted month by month by UVA, the apartments in these projects are updated monthly by the CAC index.Spaces
Juan Manuel Tapiola, CEO of Spazios, the developer behind the project, stresses that unlike banks, which require a 25% share-to-income ratio, this requirement is not imposed in this case. “ No collateral is required for the purchase of the units in the pit , only the payment of the advance,” explained Tapiola. In addition, buyers can use a calculator provided by the company to estimate different financing scenarios with shorter terms, if they wish.
In concrete terms, those interested in the project located on Nahuel Huapi street at 5200, could acquire a 35 m² studio apartment with a down payment of US$34,000 and initial installments of $700,000 , which are then adjusted by the CAC index. A 57 m² two-room apartment is also offered , with a down payment of US$49,000 and monthly installments of $950,000 .
www.buysellba.com
Source:
¿No calificás para un crédito hipotecario? La estrategia para comprar departamentos en hasta 100 cuotas
A pesar de que el panorama del mercado inmobiliario cambió rotundamente con la vuelta del crédito hipotecario, no todas las personas califican para solicitarlos, por lo que las desarrolladoras decidieron salir a ofrecer su propia financiación
www.lanacion.com.ar
October 03, 2024
Although the real estate market outlook has changed dramatically with the return of mortgage loans, not everyone qualifies to apply for them, so developers decided to offer their own financing.
By Candle Contreras
Without a mortgage: how to buy an apartment in installments? GBJSTOCK - Shutterstock
In the midst of a real estate market that offers new forms of financing to access housing , with the return of UVA mortgage loans and the possibility of laundering cash that is outside the financial system, real estate developers do not want to be left out and provide their own forms of financing to buy a property in their own projects.
This is because properties that are undeveloped or brand new (unless they are ready to be registered) cannot be acquired through a mortgage loan , since these, precisely, require a deed in order to apply for them . It must be taken into account that new units, from the time they are finished being built until they are registered, go through a process that takes between six months and a year in CABA, and a year and a half to two in the Province.
In addition, in the words of the developers: “ Mortgage credit is not that accessible yet .” This is because “there are many obstacles in terms of the requirements to apply for it and, in Argentina, where we have a large percentage of people in the informal labor market, the bank accepts up to 25% of the salary, so many are left out, mainly the young buyer,” says Tomás Zapiola, project manager of Pacheco Central. This is why the developers decided to compete with the banks by offering their own financing .
At a time when more and more banks are issuing loans to buy homes , a developer has put up for sale a residential project with the possibility of buying any of its units in up to 100 installments , with a 30% down payment and 10% upon taking possession . A key fact is that, being self-financing, it does not require a receipt or proof of income to access it and in turn gives the possibility of paying installments in advance at no cost (in this case it is calculated at the value of the last installment paid). The value of the units ranges from US$95,000 to US$280,000 .
For example, to purchase a property worth US$115,000, a down payment of US$34,000 is required and the remaining balance can be paid in up to 100 installments. On the other hand, upon taking possession (in the 30th installment) 10% of the price is paid in pesos updated by the construction index (CAC) and the following 70 installments are calculated in UVAs plus an annual rate of 7%.
Pacheco Central is a project of eight buildings
With an investment of US$30 million , the development will transform a former orchid nursery of 15,500 m² into a new urban community in Tigre, meters from Nordelta and the Bancalari access. “The project has eight blocks of buildings with 260 units in total, which will be delivered in four stages,” says Zapiola. The first stage of the project went on sale in March of this year and has units ranging from one to four bedrooms and from 50 m² to 200 m², of which 18 have already been sold, that is, around US$2,200,000 in this first stage.
Being registered in the Real Estate Projects Registry (REPI) for investments in new constructions or with a degree of progress of up to 50%, the project is suitable for money laundering. “ We have six reserves for money laundering that will be used to pay for the entire property,” says Zapiola.
The project offers a financing plan of up to 100 installments and is suitable for money laundering.
Financing in the heart of Buenos Aires
A prominent real estate project in Caballito Norte offers a financing opportunity for property acquisition. According to Sebastián Sommer, leader of the developer responsible, the project is already complete after an investment of US$50 million . Interested parties can access a unit with a 50% down payment , while the remaining balance can be financed directly with the company in fixed installments in dollars for a period of up to 48 months . “The installments are in dollars, fixed and are paid monthly,” explains Sommer.This financing plan is available for the Prima apartments, a development by the CasasARG firm, which was built in three stages and has a total of 380 units . There is also the option of accessing a bank mortgage loan , which allows financing up to 80% of the property for 30 years .
The complex, which occupies a full block between Franklin, Gavilán, Neuquén and Boyacá Avenue, consists of seven buildings . The units available for immediate delivery include one-bedroom apartments of 50 m² , with prices starting at US$120,000 ; two-bedroom apartments of 72 m² from US$160,000 ; and three-bedroom apartments of 92 m², starting at US$220,000 .
The development that emerges as an alternative to mortgage loans had an investment of US$50 million Gentleness
Units can be financed directly with the company in fixed installments in dollars for a period of up to 48 months.Gentleness
An apartment to be paid for in up to 30 years
A new real estate development offers an innovative long-term financing proposal , allowing the purchase of apartments in a condominium with a 30-year installment plan . This project, which will be ready in 2028 and which involved an investment of US$6 million, offers the possibility of acquiring a property with a down payment of between 20% and 25%, which can be paid in both dollars and pesos adjusted to the MEP value . The remaining balance can be financed in up to 360 months.Unlike traditional mortgage loans , which are usually adjusted by the Purchasing Value Unit (UVA), the apartments in this project are updated monthly according to the CAC index, which reflects the increase in labor and materials costs, plus an annual nominal rate of 7% , which varies according to the characteristics of the project and the delivery time.
One highlight is that the advance payment , which ranges from 20% to 25%, can be divided into three payments over two years . In addition, half of the planned units have already been sold to date , sales began before the start of the work, and the buyers chose 30-year financing .
Unlike mortgage loans granted by banks, which are adjusted month by month by UVA, the apartments in these projects are updated monthly by the CAC index.Spaces
Juan Manuel Tapiola, CEO of Spazios, the developer behind the project, stresses that unlike banks, which require a 25% share-to-income ratio, this requirement is not imposed in this case. “ No collateral is required for the purchase of the units in the pit , only the payment of the advance,” explained Tapiola. In addition, buyers can use a calculator provided by the company to estimate different financing scenarios with shorter terms, if they wish.
In concrete terms, those interested in the project located on Nahuel Huapi street at 5200, could acquire a 35 m² studio apartment with a down payment of US$34,000 and initial installments of $700,000 , which are then adjusted by the CAC index. A 57 m² two-room apartment is also offered , with a down payment of US$49,000 and monthly installments of $950,000 .
www.buysellba.com
