In order for more families to obtain their long-awaited home, the Mivivienda Fund (FMV) provides facilities with the Nuevo Crédito Mivivienda program, which is a mortgage loan to finance the purchase of a property, build their own land or independent air and improve your home. But how soon will I be able to pay?
It should be noted that, although this credit is given through the Mivivienda Fund, it is channeled through financial entities such as banks or municipal savings banks.
This credit finances you a maximum of 90% of the value of the home and the payment fee will always be the same.
In addition, it offers you the Good Payer Bonus and the Good Payer Prize as a complement to the initial fee.
Since 2020, the Mivivienda Fund extended its financing term, so that monthly installments are reduced and more accessible to people.
Along these lines, if before the payment of installments could reach 20 years, now the maximum time is up to 25 years.
What are the requirements to access the benefit?
To purchase a home, the following conditions must be met:
- Be of legal age (18 years).
- Be a natural person resident in Peru or Peruvian resident abroad.
- Have a minimum down payment of 7.5% of the value of the home.
- Be qualified as credit subject by a Financial Institution (IFI).
- Not be the owner or co-owner of another home in any locality in the country. Neither may the spouse or legally recognized cohabitant be the owner of another home, regardless of their patrimonial regime, or the minor children.
- Not having acquired, neither the applicant nor his spouse or legally recognized partner, a home financed with resources from the Mivivienda Fund or the Techo Propio Program or Fonavi.
How to apply for the New Mivivienda Credit?
To request the New Mivivienda Credit you must follow the following steps:
- Ask for rating: Ask the affiliated financial entities to evaluate your payment capacity and ask about the programmed savings.
- Search housing: It can be through the search engine of the official page, real estate developers, real estate portals, financial entities or any other certified means.
- Choose housing: Keep in mind that if you choose a project that is sustainable, you will be awarded an additional bonus to the initial one.
- Acquire the house: Once your credit is approved by the financial institution, you can now own it.
What is the bonus that will be received?
One of the great benefits of this credit is the Good Payer Bonus (BBP). The Peruvian State provides this economic aid for the payment of the initial fee. It is non-refundable, that is, it is not returned.
In addition, if the beneficiary decides to acquire an eco-sustainable home, they are granted the Sustainable Mivivienda Bonus, whose current value is S/ 5,400 and allows them to pay a higher initial fee for the purchase of the property, since it is added to the Good Payer Bonus.
The New Mivivienda Credit finances homes from S/ 65,200 in a payment term of 5 to 25 years.