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Perhaps never before in the recent history of Colombia the possibilities of acquiring, not only a first but a second home, have been so close for thousands of families. Interest rates at low levels, 11.5 percent effective per year for affordable housing (VIS) and 10 percent on average for non-VIS; A wide range of real estate and an artillery of subsidies and state aid and family compensation funds complete these conditions that cannot be ignored.
(Read also: How to access the 100,000 housing subsidies No VIS)
Although the crisis derived from the covid-19 pandemic has left hundreds of families without jobs and many others with less income, this can also be an opportunity to evaluate the possibility of applying to one of the programs, while employment, production and the economy in general are recovering.
(You may be interested in: Jobless? We tell you how to apply to 20,000 vacancies in Colombia)
Owners seedbed
Its objective is to encourage savings so that more families can have a home. The program offers two types of subsidy: the first, subsidizes the rent to those who live in informal conditions; the second, rewards savings in a special account in which the family must complete 4.5 monthly minimum wages in 18 months – about 4 million pesos- to be a beneficiary of the supplementary subsidy to Mi Casa Ya and the compensation funds. Thus, for every 1,000 pesos saved, the State will award 1,333 pesos more.
To apply to this program, your income cannot exceed the two current legal monthly minimum wages, about 1’757,606 pesos; not be a homeowner or have been a beneficiary of any family housing allowance, and maintain income and the family nucleus during the stage of saving and obtaining the home.
Those interested should go to the savings entities linked to the program (National Savings Fund, Bancolombia, BBVA, Banco de Bogotá, Banco Caja Social, Davivienda, Coofinep, Colpatria, Bancamía, Confiar, Cotrafa and Credifamilia) to open the account or check if your current account meets the program conditions.
My house now
Aimed at households that have incomes below four minimum wages – about 4 million pesos), which will be able to obtain a subsidy equivalent to 30 or 20 monthly minimum wages –between 30 and 20 million pesos approximately-, according to income, to purchase your home.
They also receive coverage at the interest rate of 5 percentage points, for priority interest homes that do not exceed 90 monthly minimum wages and 4 percentage points, for affordable housing (VIS) up to 135 minimum monthly wages and up to 150 minimum wages for urban agglomerations with a population of over one million inhabitants.
The interest rate coverage applies to households with incomes below 8 monthly minimum wages. For this year, it is planned to grant 30,540 subsidies through the Mi Casa Ya program.
Interested parties can obtain information at www.micasaya.minvivienda.gov.co and www.minvivienda.gov.co
Concurrent grant
Another possibility that Colombians have is to apply for a concurrent subsidy, which allows integrating the aid for home purchase of the Mi Casa Ya program and the benefits granted by the Family Compensation Funds. Only households that earn up to 2 minimum monthly wages can apply to this subsidy, that is, about 1.7 million pesos.
The first step is to process said subsidy with the compensation fund, and then apply for the program to the Ministry of Housing. So far this government has delivered 7,000 subsidies of this type, but the goal is to reach 13,500 subsidies of this type.
(In other news: These are the steps to apply to the Dian job call)
Subsidy for the purchase of no VIS
It is about 100,000 coverage for mortgage loans and housing leasing operations for the purchase of a new home No VIS of up to 500 monthly minimum wages, that is, 438 million pesos and are available until December 2022, or until stocks are exhausted.
The beneficiaries of this aid will receive about 439,000 pesos per month during the first 7 years of the loan, this is more than 36 million pesos and They must apply through the bank when applying for a mortgage loan or housing leasing.
(See also: See how to access the subsidy to buy a home in the middle class)
To apply for this subsidy, the person or household must not have received a family housing subsidy from the Government or Family Compensation Funds, or any interest rate coverage. There are no more income limits to apply to the program and it doesn’t matter if you already own a home.
The Bank of Bogotá announced that, since last Friday, September 18, interested persons can apply to be beneficiaries of the subsidy for the purchase of housing other than social interest projects (not VIS), by making a formal request to the bank to access this program.
Bancolombia It also announced this week that it is ready to attend to the applications of those interested in accessing this subsidy for the purchase of new urban housing No VIS. Those interested in applying can enter the site ww.grupobancolombia.com and request advice online. The 680 Bancolombia offices throughout the country are also available.
(Continue reading: Jobless? We tell you how to apply to 20,000 vacancies in Colombia
By: Economy and Business
