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What is the financing offered?

What is the financing offered?

another bankannounced a line of credit for the purchase, construction, completion or expansion of a house. Now Banco Ciudad has joined in and also announces the launch of new mortgage loans for the acquisition, renovation, improvement and expansion of both unique and permanent and non-permanent homes.

After five years without mortgage loans in Argentina, the market and people who dream of their own home are beginning to have the first signs.

Banco Ciudad announced the launch of new mortgage loans for the acquisition, renovation, improvement and expansion of homes, both unique and permanent, as well as non-permanent. Financing reaches up to $250 million, with terms of up to 20 years, in UVAs

plus an interest rate from 3.5% TNA(**).

The buyer of a property to be financed, whose cost is US$50,000, would initially have to put US$10,000 out of pocket, plus about US$4,500 for the expenses incurred by the operation.

The buyer of a property to be financed, whose cost is US$50,000, would initially have to put US$10,000 out of pocket, plus about US$4,500 for the expenses incurred by the operation.

Banco Ciudad: everything you need to know He city ​​Bank announces the launch of new mortgage loans for the acquisition, renovation, improvement and expansion of homes, both unique and permanent, as well as non-permanent. Thefinancing reaches up to $250 million

for terms of up to 20 years, in UVAs plus an interest rate from 3.5% TNA(**).The new credit proposal includes two mortgage lines with similar characteristics, to which Those who already collect or migrate the accreditation of their salary to Banco Ciudad can access . It is offered a line that allows you to acquire a first and second home in all areas of influence of Banco Ciudad(AMBA, provinces of Córdoba, Mendoza, Tucumán and Salta),

and another for the acquisition of family housing, unique and for permanent occupation in the Microcenter of the Autonomous City of Buenos Aires (***). Both are in UVAs, the general line has an interest rate of 5.5% + UVAs, and the Microcentro line has an interest rate of 3.5% + UVAs. The specific line 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. These credits will be

available starting next Monday, April 29 through the Banco Ciudad website and in all branches of the entity. The new mortgage lines allow financing

up to 75% of the sale value of the property to be acquired.

In turn, the fee-income ratio must not exceed 25% of the net income of the applicant and/or his or her family group.

They are credits that stand out for their accessibility, for example, in relation to the amount of the monthly payment: for every $10 million requested over 20 years to acquire a home in the Microcenter of CABA, the initial monthly payment is $58,149. Likewise, with respect to the fee-income relationship, if the person, family or group of borrowers have an income of $1,930,000, they can access, as an example, a loan of $70 million, with an initial payment of $482,000.

  • On the other hand, these loans have the possibility of requesting an extension of the term if the amount of the installment to be paid exceeds 10% of the value of the installment resulting from having applied to that loan a capital adjustment by the Variation Coefficient of Salaries (CVS) since its disbursement. In these cases, the original term of the loan may be extended by up to 25%.UVA Mortgage Features Salary Plan Beneficiaries:
  • People who prove salaries in Banco Ciudad or who migrate their salary plan to Banco Ciudad.
  • Destination: Acquisition, renovation, improvement and expansion of single, permanent and non-permanent housing located where Banco Ciudad has presence. Maximum Loan Amount
  • :$250,000,000.
  • Deadlines : 10, 15 and 20 years.
  • Currency:UVA (Purchasing Value Unit).
  • Interest rate: from 3.5% TNA + UVAs.
  • Fee-income ratio: up to 25% of the net income of the applicant and/or his or her family group.

Financing

: up to 75% of the sales value of the unit to be acquired.

EXAMPLE of fee at Banco Ciudad:bankcity.PNG

Source: Ambito

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