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Record number of applicants for NIDO mortgage loans: They are for the purchase, expansion and renovation of homes - Infobae
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Récord de inscriptos para créditos hipotecarios NIDO: son para compra, ampliación y refacción de viviendas
Culminó la primera etapa de inscripciones para los préstamos impulsados por el Gobierno de Santa Fe y el Banco Municipal. Calificaron más de 29.500 personas
www.infobae.com
August 7, 2024
The first stage of registration for loans promoted by the Government of Santa Fe and the Municipal Bank has ended. More than 29,500 people qualified
By Jose Luis Cieri
Nearly 30,000 applicants were able to qualify with the option of being able to access financing for their own roof, as well as to expand or renovate their home (Illustrative Image Infobae)
The first stage of registration for NIDO mortgage loans, promoted by the Government of Santa Fe and the Municipal Bank (BM de Rosario), has ended, with a massive participation of 36,535 people from the 19 provincial departments. Of these, 29,507 (80.77%) qualified for the draw that will determine the beneficiaries of these loans, which seek to facilitate access to housing in the province.
The plans offer four lines of loans for a total amount of $60 billion. These lines are intended for the construction and acquisition of housing, the completion of housing, individual collectively managed loans and the acquisition or construction of housing by transfer of rights.
The maximum amount that each person or family can apply for is $100 million for the purchase and construction of housing and $25 million for completion.
The credits will be updated by UVA and an interest rate of 4.2% for those people who do not receive salaries from the Rosario BM. And UVA +3% in cases where they do receive income from the BM.
These credits are exclusively for the province of Santa Fe. For purchase and sale, they cover 75% of the value.
If a home in Rosario or Santa Fe Capital is worth USD 75,000, the interested party must have 25% of the amount for the down payment and approximately 5% for additional and real estate expenses.
If the transaction is completed, the person or family will pay an initial installment of $440,000 per month, adjusted by UVA, similar to the loans launched by more than 20 banks more than three months ago.
One of the innovative aspects of the NIDO system is the inclusion of a co-signer system. Enrico explained: “That is to say, those people who meet the requirements to apply, but whose income is not sufficient, can present relatives up to the third degree of consanguinity as co-signers. This system will allow the loan amounts to be closer to the current values of construction or home purchase.”
In numbers
In the first three weeks of registration, more than 30,000 people had already signed up, of which 71.22% (21,372) requested a UVA mortgage loan for the purchase or construction of a home, while the remaining 28.78% (8,635) requested a UVA personal loan for finishing works.
Since August 2, those registered began receiving notifications via email about their qualification for the draw. This information is also published on the official website of the Santa Fe government (Photo: Getty)
62% of applicants are between 20 and 40 years old: the age group from 30 to 40 years old represents 36.42% (10,930), and the age group from 20 to 30 years old represents 25.88% (7,767).
Lucas Crivelli , Secretary of Habitat and Housing of the province of Santa Fe, stated that more than half of those interested in accessing the credit are employees (15,558 cases, equivalent to 51.84%); while 27.8% (8,342) are self-employed and 17.21% (5,166) are independent workers. In addition, 59.2% (17,766) of those registered have incomes between $1,000,000 and $2,000,000 per month.
In terms of territorial distribution, the largest number of applicants for credit live in the Rosario department, where 38.89% (11,671) of those interested registered, followed by La Capital with 22.96% (6,891) and San Lorenzo with 14.44% (4,335).
The Rosario World Bank cross-checks credit data with the Central Bank to determine the suitability of interested parties, and those who are eligible are included in a list. The lists close on the last business day of each month and the draw is held on the fifth business day of the following month.
“Those who do not benefit from the initial draw do not need to register again, as they will continue to participate in future draws. In addition, those who did not qualify in this first stage can resolve their situation to try to register again,” Crivelli added.
Registration to access NIDO credits remains open. Those who reside in the province of Santa Fe before June 30, 2024, who have demonstrable income and do not have other properties can access them.
Those who reside in Santa Fe before June 30, 2024, family groups or single people with income equivalent to two minimum wages for housing and one minimum wage for termination can access NIDO credits. People in employment relationships, self-employed persons and those without other assets can apply.
Physiognomy
The interest of the people of Santa Fe in accessing their own home coincides with the trend observed in the rest of the country. In recent years, the renter population has increased compared to the number of homeowners.“A fact that explains this trend reveals that, of the 1,500,000 households surveyed in the province of Santa Fe, 500,000 are rented. That is, one third of the population is a tenant,” said Diego Ferreyra , member of the Rosario College of Real Estate Brokers (Cocir) and of the real estate agency of the same name.
In real estate agencies, enquiries to buy have grown by 30% in recent weeks, and the sector views this credit initiative as very positive.
Three-room houses range between USD 60,000 and USD 80,000 in the used segment. Ferreyra concluded that, for example, in the western, southern and part of the northern neighborhoods of Rosario, “it is possible to access a three-room apartment from USD 50,000.”
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