New Mivivienda Credit: How much can be financed to buy a house?

The Nuevo Crédito Mivivienda has been granting mortgage loans to middle-income people with a good credit history who are looking to purchase a property. Given this scenario, we will tell you more details about how to access this benefit and how much the entity attached to the Ministry of Housing, Construction and Sanitation (MVCS).

It should be noted that the Nuevo Crédito Mivivienda is a mortgage loan that allows you to buy any house, build on your own land or on your own, and improve your home.

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

How much is the financing?

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.

What is the bonus to 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 purchase 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.

What are the requirements to access the benefit?

To buy a home, the following conditions must be met:

Be of legal age (18 years).
Be a natural person residing in Peru or Peruvian residing abroad.
Have a minimum down payment of 7.5% of the value of the home.
Being qualified as subject to credit by a Financial Institution (IFI).
Not be the owner or co-owner of another home in any town in the country. Nor may the spouse or legally recognized cohabitant be the owner of another home, regardless of their patrimonial regime, or minor children.
Neither the applicant nor their spouse or legally recognized partner have acquired 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:

Request qualification: Request affiliated financial entities to evaluate your ability to pay and ask for scheduled savings.
Search for 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.
Choosing housing: Keep in mind that if you choose a project that is sustainable, you will be given an additional bonus to the initial one.
Acquire the home: Once your credit is approved by the financial institution, you can already be an owner.