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What is the lowest UVA mortgage loan that should be obtained? - La Nacion Propiedades
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Cuál es el crédito hipotecario UVA más bajo que conviene sacar
La semana pasada salieron al mercado varias propuestas de créditos hipotecarios y surge la duda de cuál es la que conviene solicitar; toda la información sobre el préstamo más barato
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April 29, 2024
Last week several mortgage loan proposals came onto the market and the question arises as to which one is best to apply for; all the information about the cheapest loan.
Banco Ciudad offers, for now, the lowest UVA mortgage loan on the market due to its interest rate of 3.5% in the downtown area and 5.5% in AMBA, Córdoba, Mendoza, Salta and Tucumán
Last week three banks announced that they would launch mortgage credit lines on the market, something unthinkable until recently in the country, since for five years there was almost no offer in Argentina. The big question that arises in this context, when analyzing which credit should be obtained , revolves around which is the cheapest .
Among all the possibilities that were announced last week, the first to take the leap was Banco Hipotecario ; It was followed by Banco Ciudad , which was officially launched on the market today , and finally, Banco Supervielle , who has not yet made public its conditions and requirements, but announced that it will launch its detailed proposal at the beginning of May.
The offer from Banco Ciudad is an adjustable capital by UVA, with an interest rate of 5.5% to purchase (also renovation, improvement and extension) first and second homes, permanent or non-permanent, in all areas of influence of the Banco Ciudad (AMBA, provinces of Córdoba, Mendoza, Tucumán and Salta). However, of particular interest is the 3.5% rate that this bank also offers in the case of requesting a loan for the purchase, renovation, improvement and extension of a single, permanent occupancy family home, intended for a first home, in the microcenter of the Autonomous City of Buenos Aires. We are talking about, so far, the proposal with the lowest interest rate and, therefore, the cheapest to pay.
The specific area in which this line of credit with the lowest interest rate is offered is located within the perimeter of the Sustainable Urban Development Fund (Fodus), which includes San Juan, Entre Ríos, Callao, Santa Fe, Leandro N avenues. . Alem and Paseo Colón , on both sidewalks. This line of credit accompanies the plan of the CABA Government, which aims to develop and invest in the Microcenter, through housing incentives and tax benefits in strategic activities.
For five years there has been almost no offer of mortgage loans in Argentina
“ This measure implies a step forward in the offer of lines of credit, in the dream of being able to access one's own home, ” said Jorge Macri, head of government of the City of Buenos Aires, today during the launch announcement. of mortgage loans from Banco Ciudad and added: “A line that aims to promote the recovery of the microcenter within the comprehensive plan that we have for the recovery of the area, with a lower and subsidized rate for Buenos Aires residents who decide to buy their first home in this part of the city".
What are the requirements to obtain credit for the microcenter?
- Those who already collect or migrate the accreditation of their salary to Banco Ciudad can access
- The credit is to buy, renovate, improve or expand a family home, unique and permanently occupied, intended for a first home in Microcentro (within the perimeter of the Sustainable Urban Development Fund)
- The maximum loan amount is $250 million (up to 75% of the sales value of the unit to be acquired)
- The capital is adjustable by UVA
- It has an interest rate of 3.5%
- The terms are for 10, 15 and up to 20 years
- The fee should not exceed 25% of the income of the applicant and/or their family group
Banco Ciudad also offers the possibility of taking out another line of credit, with a rate of 5.5% in the areas where it has influence such as AMBA, provinces of Córdoba, Mendoza, Tucumán and Salta. In this case, the same requirements as the previous line of credit are maintained, although it can be used for first and second homes, permanent or non-permanent.
The two lines of credit are available starting today, Monday, April 29, through the Banco Ciudad website and in all the entity's branches.
The Banco Ciudad credit can be used to purchase a home, but also to renovate, improve or expand the house
What is the fine print of Banco Hipotecario loans like?
Last week, the first to go on the market with mortgage loan offers was Banco Hipotecario. To buy, build, finish or expand a house, the requirements set as a condition to request this credit are the following:- The credit is for up to $250 million in a single disbursement in the case of a home purchase. For construction the amount is the same but with an advance payment and two disbursements against progress of the work. In the case of termination or expansion, it is up to $125 million in a single disbursement.
- They finance up to 80% of the home to buy or build . Up to 50% in case of completion of work, and 100% for expansion.
- The credit must be used for the purchase, construction, completion or expansion of a first or second home.
- It has a rate of 8.5%. The first 12 installments for clients with bank credit have a rate of 4.25% , which means a 50% promotion in the first year (with the total financial cost: final rate of 8.65%; 4.4% final the first year for salary accounts).
- The maximum payment term is 360 months (30 years).
- The capital is adjustable by UVA.
- The monthly fee payable cannot exceed 25% of the applicant's income .
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