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New UVA mortgage loans: Is the initial payment similar to the cost of a rental? - Infobae
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Nuevos créditos hipotecarios UVA: ¿la cuota inicial es similar al costo de un alquiler?
Por ahora, las cuotas no igualan el costo de un alquiler en CABA. Quien pase de ser inquilino a tomador de un préstamo, además, deberá afrontar gastos adicionales de otorgamiento
www.infobae.com
May 25, 2024
For now, the fees do not equal the cost of a rental in CABA. Whoever goes from being a tenant to taking a loan will also have to face additional granting expenses.
By José Luis Cieri
Of the thirteen banks that launched their housing lines, rates may decrease for their clients. They clarify that the plans are available to everyone and it is not necessary to have a bank account
After the reappearance of UVA mortgage loans with the first loan granted by Banco Ciudad , the main question of the more than 250,000 interested parties who registered in various banking entities in just four weeks is: what will be the value of the initial fee? of these credits and to what extent does it compare with the cost of a rental?
All proposals are based on an adjustment system through the Purchasing Value Unit (UVA), which the Government publishes every day. This means that the value of the capital and the installments are updated using inflation.
To determine if the initial installments beat a rental in CABA, simulations were carried out from the real estate market on the platforms of public and private banks. The results indicated that initial loan payments are between 10% and 15% above rental prices.
Today, a 3-room apartment in CABA averages $550,000 per month. Although rents increased by an average of 260% year-on-year, the greater supply after the repeal of the Rental Law slowed the pace of increase in the values of new contracts, which are no longer rising with the same inertia as until last January.
In addition, anyone who goes from being a tenant to taking a loan must contribute between 20% and 25% of the sale price of the property with their personal savings. He must also cover additional expenses for granting the loan and real estate commission in the purchase operation.
A no small fact is that, crediting the salary in the issuing bank, the interest rate is substantially lower in all entities (Illustrative Image Infobae)
Gonzalo Garriga Lascano , real estate broker and Real Estate expert, explained to Infobae : “This means that the gap between the rental price and the initial payment is even greater. In any case, it must be taken into account that upon completion of the loan payment, the property will form part of the asset of the borrower.”
“The abrupt fluctuation of the exchange rate affects the purchasing capacity, since the loan is in pesos and the value of the property in dollars. The elimination of the exchange rate will be essential to energize the market,” said Garriga Lascano.
What would the initial installments be?
The Buenos Aires Real Estate Association reported these data and also indicated that the conditions of all private and public banks that are currently offering mortgage loans follow these general guidelines: terms between 20 and 30 years, loan amount between 75% and 80% of the value of the property, and a fee-income ratio of 25%; By crediting the salary to the issuing bank, the interest rate is substantially lower. Some examples are:City Bank
Loan term: 20 years
Home value: $125,000,000.
Loan amount: $100,000,000.
Minimum net income required: $2,760,000.
First installment value: $690,000.
Hipotecary Banc
Loan term: 25 years
Home value: $125,000,000.
Loan amount: $100,000,000.
Minimum net income required: $2,844,000.
First installment value: $557,632.
Santander Bank:
Loan term: 20 years
Home value: $100,000,000.
Minimum net income required: $2,292,956.
First installment value: $687,887.
Supervielle Bank
Loan: 30 years
Home value: $100,000,000.
Minimum net income required: $1,885,660.
First installment value: $477,415.
Macro Bank
Loan term: 20 years
Home value: $100,000,000.
Minimum amount: $2,292,956.
Initial fee: $687,887.
Galicia Bank
Loan term: 30 years
Home value: $100,000,000.
Minimum income: $2,271,156.
Initial fee: $567,789.
Bancor
Loan term: 20 years
Home value: $90,000,000.
Minimum income: $2,250,000.
Initial fee: $554,000.
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