New Mivivienda Credit: Can a loan be obtained to build on land with a possession certificate?

The Peruvian State, through the Mivivienda Fund and the program New Mivivienda Credit They provide facilities to Peruvians who dream of buying a property or building on their own land or independent airs and improving their home. In this note you know all the details, to access the benefits.

This loan financed by the Mivivienda Fund (FMV) is channeled through Intermediary Financial Institutions (IFI) to a beneficiary who meets the established requirements.

This credit, through a financial entity, grants a maximum of 90% of the value of the home and the payment fee will always be the same. Homes can be financed from S/ 65,200 up to S/ 464,200, in a period of 5 to 25 years. In addition, it offers you the Good Payer Bonus and the Good Payer Prize as a complement to the initial fee.

LOOK: New Mivivienda Credit: these are the steps you must follow to request this benefit

Can I qualify for the New Mivivienda Credit to build on land with a possession certificate?

According to the Mivivienda Fund, at the moment it is not possible, because the land must be registered in Public Registries, in this way you can access the New Mivivienda Credit in construction mode.

With this document from Public Records, he approaches a financial entity and requests the New Mivivienda Credit in the construction modality.

The applicant must not be reported in the risk centers and must not have other properties in his name in Peru.

What are the requirements to access the New Mivivienda Credit?

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.

The good payer bonus

One of the great benefits of this credit is the Good Payer Bonus (BBP). The State provides this financial aid for the payment of the initial fee. This means that it is non-refundable, 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.

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