For this year, the bonds granted by the Mivivienda Fund (FMV), an entity attached to the Ministry of Housing, Construction and Sanitation (MVCS), to acquire or build a property amount to up to S / 40,250.
In detail, the highest and most demanded subsidy is the Family Housing Bonus of the Techo Propio program, which in the New Housing Acquisition modality, the State covers 8.75 UIT (S/40,250) for real estate with a maximum value of S/109,200 if is an apartment in a multi-family building or up to S/85,400 if it is a house.
“According to the type of housing, of that amount, the Mivivienda Fund covers S / 40,250 and the person would pay the rest through their savings or through a credit with financial entities,” explained Juan Carlos Forero, general manager of the Fund. Myhousing.
What requirements must be met to access this benefit? According to Forero, it is only necessary to form a family group; that is, at least two people: one must be the head of the family and have at least one dependent.
In addition, none can have a home in their name, and that they have never received support from the State in real estate matters, such as the Materials Bank, the Mivivienda Fund, Fonavi, etc. And finally, the monthly net income of the family group must be a maximum of S/ 3,715.
Another modality of the Techo Propio program is Construction in Own Site, whose bonus amounts to 6 UIT (S/27,600). In this case, the requirements are similar to the first, except that people must have land in their name located anywhere in the country and the income of the family group must be a maximum of S/2,706 per month.
This modality is not permanent, calls are launched twice a year for people to register and a list of beneficiaries comes out. “In both modalities there must be at least two members in the family, it can also be mother and child, as long as they have up to the second degree of consanguinity or affinity,” Forero clarified.
New Mivivienda Credit
Unlike Techo Propio, the Nuevo Crédito Mivivienda will always be accompanied by a mortgage loan with associated financial entities, and it does not necessarily have to be a family group; that is, only one person can access it. Likewise, the Good Payer Bonus (BBP) is not fixed, but ranges from S/10,800 to S/25,700 depending on the value of the home, which can vary between S/65,200 to S/343,900 (see infographic).
“The minimum subsidy is for the most expensive home, for example, from S/232,000 to S/343,900, the bonus is S/10,200. While if the house has a value of S/65,200 to S/93,100, that subsidy is the maximum of S/25,700″, the FMV official specified.
To this benefit is added another subsidy of S / 5,400 called the Good Sustainable Payer Bonus, or commonly called the Green Bonus. If the house you want to acquire is a “green project”, this subsidy is added and in total you can access the discount of up to S / 31,100 of the value of your home.
How does it work? For example, to access a loan to buy a property of S/100,000, the user must pay the 7.5% initial fee (S/7,500), to which the State adds the BBP, which for this range of housing is from S/21,400; and if it is a sustainable project, it is an additional S/5,400. Thus, your initial payment grows to S/34,300, with which the total value of the mortgage loan is reduced to S/65,700.
New post-pandemic benefits
In 2020, after the arrival of the COVID-19 pandemic in the country, the Government ordered some measures to boost real estate demand.
Among the main changes in the FMV was the reduction in the percentage of the down payment to buy a home, which went from 10% to 7.5%. Another change was to extend the period of the mortgage loan up to 25 years (before it was a maximum of 20 years).
Juan Carlos Forero highlighted that the loans through the Mivivienda Fund offer fixed rates in soles, and grant a grace period of up to 6 months to just start paying.
dynamic element. Jorge Zapata, president of Capeco, pointed out that the FMV grants about 60,000 bonds a year and considers that it should be doubled. “If the number of bonuses is increased, we could close the gap much faster and we could have a more dynamic economy and more people could be given more work,” he said.