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BancoEstado launched a new mortgage loan campaign called “el mortgage”, which offers a rate of historical interest of 1.99% for 20 years, the lowest in history, to finance 80% of a home.
The loan is aimed at people who want to opt for their first home and is a way to contribute to the “reactivation of the economy“explained the president of the entity.
Sebastián Sichel explained that this initiative “causes two effects, or a special virtuous circle for the economy, first: it helps to shovel the deficit, which, according to the Ministry of Housing, there are almost 393 thousand homes that Chileans need, that many of them They are middle class who live off relatives“.
“Second: reactivate the economy as it activates the real estate market, allows the construction sector to develop and it allows those same middle class families to get or look for a job because economic activity stands up. The bank did so between 2006 and 2008 the previous crisis that Chile experienced“added the former Minister of Social Development.
The “mortgage” also offers another financing alternative of 90% for 30 years, with an interest rate of 2.39%., which can even be for a second home, investments, agreements or also as part of the so-called financial portability.
This 1.99% rate will be available until December 30 and can be ordered on the same Banco Estado website and it even offers the possibility of postponing the payment of the first installment for six months.
This measure coincides with the decrease in mortgage rates for the fourth consecutive week, reaching an average of 2.27%, the lowest level since the beginning of the year.
