“The entity decided to take a step forward in this context of falling inflation, which is still high, but has a clear downward trend, in order to fulfill the dream of being able to access one’s own home,” the official warned this Monday during a press conference at the Head of Government.
Ciudad: they presented the new lines of mortgage loans from Banco Ciudad
The head of Government of the City of Buenos Aires gave details about the offer of two lines of mortgage credits that begins to offer the city Bank and which is intended for the acquisition, renovation, improvement and expansion of homes of up to $250 million, that is, around US$250,000 with the current price.
The Buenos Aires authorities explained that it is of two byproducts: a credit for the entire country, with access up to second home both in CABA and in other districts (AMBA, Salta, Córdoba, Mendoza and Tucumán), and another line in particular that aims to the recovery of the Buenos Aires downtown which will have “a lower and subsidized rate for Buenos Aires residents who decide to buy in this area of the City.”
“They are credits with an updated Purchasing Value Unit (UVA) and a rate above that update of 5.5 for the credit in general and a rate differential of 3.5 in the case of the microcenter”he detailed Macri today and considered that “it will be one of the best loans that the market will offer”.
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“Obviously as the economy improves, salaries are gaining on inflation“, will allow many Buenos Aires residents, many Argentines, to access this dream of owning their own home,” remarked the Buenos Aires Head of Government at a press conference.
The credit of Banco Ciudad reaches financing of up to $250 million for a term of up to 20 yearsin UVAs plus an interest rate from 3.5% TNA (Annual Nominal Rate). They can now be requested from this Monday.
Banco Ciudad: everything you need to know about the new mortgage loans
He city Bank 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. The financing reaches up to $250 millionfor 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 whichThose 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 inGrapes
, 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 Microcentro, through housing incentives and tax benefits in strategic activities.
Jorge Macri during the presentation this Monday. 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 PlanBeneficiaries :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. For those who carry out a transaction to purchase a single family home for permanent occupancy In the downtown area the interest rate is 3.5%.
The other requirements regarding being a client of the bank with proof of earnings, maximum amount of $250 million (up to 75% of the sale value of the property), the terms (10, 15 and 20 years) and the percentage of salary that must not exceed the fee (25%), are those already detailed in the previous line of credit.
It is important to indicate that the downtown area is the one located within the perimeter included by the Sustainable Urban Development Fund program (Fodus) and that includes San Juan Avenue, Entre Ríos Avenue, Sta. Fe Avenue, Leandro N Avenue. Alem, Avenida Paseo Colón, on both sidewalks. The Buenos Aires Government’s plan to promote the reactivation of the downtown area includes tax benefits for developers who convert offices into homes or facilities for those who move to the downtown area as tenants. Now add thisline of credit for those who want to buy a home in that area
.
Source: Ambito
