The City of Buenos Aires announced new areas that will be able to access, through the City Bankto mortgage loans at a preferential rate. They allow the acquisition of a single and permanent home at financing terms of up to 20 yearsin Grapes plus a rate of fixed interest of 3.5% (TNA).
La Boca, Nodo Sáenz, Barrio Olympic and Lugano are some of the sectors that join the plan, which already reached Central area of the city. Credits are available through the website of the City Bank and in all branches of the entity.
The loans granted allow the beneficiary to present guarantors – up to two per owner – in which case the maximum financing amount is reduced to 65%. On the other hand, the fee-income ratio should not exceed the 25% of the applicant’s net income, of your family group and/or the income of the guarantors.
Likewise, with respect to the fee-income relationship, if the person, family or group of borrowers have an income of $1,630,000, they can access, as an example, a loan of $70 million, with an initial payment of $407,000, with the fixed rate of 3.5% + UVAs.
Finally, the financing also offers the possibility of requesting a extension of the term If the amount of the installment to be paid exceeds 10% of the resulting quota value having applied to that loan a capital adjustment for the Salary Variation Coefficient (CVS) since its disbursement. In those cases it may be extended up to 25% the original term of the loan.
Who can be beneficiaries of the City loan
The credits are aimed at natural persons of legal age who are domiciled or carry out their activity in the area of influence of the institution. Registered managers, self-employed workers, monotributistas and employees in a dependency relationship who prove salaries in Banco Ciudad or who migrate their salary plan to the institution can be beneficiaries.
The objective of the loan is to acquisition, renovation, improvement and expansion of housing. The maximum loan amount is $350,000,000 and its terms are 10 to 20 years.
Who can be guarantors of the loan
Those interested who do not have income or the income is not sufficient to access the mortgage loan, may collect up to a maximum of two holders per credit and each one will have the possibility of presenting two guarantors. They must be in activity to be able to compute the income for the credit.
Guarantors may be any person over 18 years of age with demonstrable income, and must meet the same requirements as the applicant:
- If you have income in a dependency relationship, you must prove it in City Bank
- Self-employed, registered responsible persons and monotributistas.
- The maximum age that the loan holder can have at the end of the credit It is 70 years, and in the case of the guarantor it is 80 years.
Source: Ambito
