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Now the subsidies to buy a house in the country and the wide range of properties make it very easy to buy a home; according to El Tiempo, The low levels of interest rates for the two segments (11.5% for VIS and 10% for non-VIS annual cash), make it easier for Colombians to fulfill what for most is the dream of their lives.
Although many have the desire to buy their own home, they are unaware of the subsidies they can access to facilitate the process and save some of the money. Below you can see the programs you can apply for, according to your income level.
Owners seedbed
The Ministry of Housing stressed that this is a “social leasing” program with which seeks to help Colombians who earn less than two current legal monthly minimum wages (1,757,606 pesos).
The beneficiaries of this program will be able to sign lease contracts with a purchase option for a period of two years. During this time, The Government will contribute an amount of up to 500,000 pesos to meet the payment of the VIP or VIS housing fee.
“The beneficiary families make a co-payment to the rental fee and allocate another amount to monthly savings. That is to say, a family that receives 500 thousand pesos of subsidy, contributes 150 thousand additional for the canon and must save 200 thousand pesos monthly “, indicated the Housing portfolio and added that, once the two years agreed and with the savings achieved, the beneficiary will be able to access the ‘My House Now’ program to buy the property.
My house now
This program makes it easier for families to buy a new home in an urban area of any municipality in the country. According to the newspaper, This program is aimed at households with total incomes less than four times the minimum wage (4,000,000, approximately) that do not own a property in Colombia.
These families, according to the media, They will be able to access a subsidy equivalent to 20 or 30 minimum wages for the purchase of their homeIn addition, they will have interest rate coverage of up to five percentage points for VIP homes, and four percentage points for VIS.
Concurrent grant
This program can be accessed, according to the newspaper, households with incomes of up to two minimum wages, and allows them to join aid from ‘Mi Casa Ya’ and the benefits provided by the different family compensation funds.
Non VIS housing allowance
Colombian families of any income level can access these subsidies; However, the condition to become a beneficiary is that the value of the property exceeds that of a low-cost home and does not exceed 500 minimum wages (438 million pesos, approximately).
The beneficiary families of these subsidies, according to the Ministry of Housing, rThey will receive a monthly aid during the first seven years of the loan, which implies a reduction of the quota of close to 438,000 pesos, and it translates into a total subsidy equivalent to 42 minimum wages (36,867,684 pesos).
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