The resurgence of mortgage credits UVA – named after the acronym “Purchasing Value Unit” – aroused great interest, and so it was that in the first month alone more than 64,500 queries and today, a little less than two months after launching, the queries exceeded 250,000. Without a doubt, this line of credit became hope for a future economic recovery and for all those who dream of owning their own home.
There are already 15 banks that grant these lines of credit: the Mortgage, the Nación, Supervielle, Macro, Santader, Ciudad, Galicia, BBVA, Del Sol, ICBC, Brubank, Bancor (Córdoba), Banco de Corrientes, Banco Provincia del Neuquén and Patagonia. Employees and self-employed workers can access it, whether they are registered responsible persons or monotributists. In it National Bank Also included are retirees and pensioners who receive their salaries in that entity.
Payment times are around 20 years, but there are some entities that offer up to 30, so it is important to consult the different proposals for these loans that can also be taken to buy a second home. “It is key to highlight that mortgage credit in a country is very necessary. Although in Argentina we normalize that in recent decades it is almost an impossible mission to access it – during the last 5 years there was no offer -, in all developed and developing countries it is an essential tool for the economic growth of society. ”argues Ariel ChampanierCEO of RE/MAX Premium, a leading agency in real estate services and No. 1 in network sales in Argentina, who have already registered 50% more inquiries to buy properties since the loans were launched.
The 4 keys to keep in mind:
1) Think about the long-term benefit
If you have doubts about the payment, the rate, or the interest, keep in mind that normally a mortgage loan in Argentina is for 20 years, and that – surely – throughout that period you will experience fluctuating situations, where the credit will be very cheap or moments where it will be a little more expensive, but in the long term the benefit is greater. In general, those who take out a debt in Argentina perceive that over time it is liquefied by the different devaluations.
2) I measured in dollars, not pesos
If you are analyzing whether credit is “good” or “bad”, dollarize it, do not measure it in pesos. For example, with the previous UVA credits, many only saw that they had started paying a fee of “x” pesos and then much more, but the key is to think: how many dollars were they at that time and how many are they today? I assure you that everyone ended up winning.
3) Secure the advance
To access the credit you will need an advance, if you do not have this requirement you will not be able to obtain it. In general terms, the new loans cover between 75% and 80% of the value of the homes. You have to understand that the fee you are going to pay will have to do with your income. Take stock of how much money you earn, and how much of that you can allocate to credit. Although you have to make an effort to reach the minimum amount necessary, it is undoubtedly worth adjusting to be able to have your roof over your head.
4) Read the fine print!
The first thing you will have to do to take out a mortgage loan is go to a bank to get qualified to see if you are pre-approved to be granted. Once you are approved, it is important that you know the fine print, the expenses that you will be charged, what the possible cancellation is like, and clear all doubts – no matter how minor – before signing the contract.
These credits can be a tool to fulfill the desire of a portion of Argentines to be owners, which can accelerate the increase in property values, but as can be seen in these issues, the key is to take stock. : “I am convinced that as there is more competition, as more banks grant loans, rates will go down, so in the long term the benefit is greater,” Champanier says.
Without a doubt, the possibility that mortgage loans represent to access a property are an opportunity to evaluate and be encouraged to consult.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
