Banco de la Nación lends you S/200,000 to buy your home: application guide and requirements

Owning a home is a dream that many Peruvian families wish to achieve. To facilitate this goal, the National bank count with one mortgage credit which not only offers competitive interest rates, but also seeks to bring citizens closer to their goal of becoming homeowners by providing accessible and flexible options in the Peruvian financial market.

The Banco de la Nación mortgage loan is designed for the purchase of homes, offering financing of up to 90% of the value of the property. With amounts that can exceed S/200,000 and a payment term of up to 25 years.

How does the Banco de la Nación mortgage loan work?

The mortgage loan from Banco de la Nación grants amounts from S/15,000 to figures higher than S/200,000, depending on the applicant’s income. Rate Annual Effective Cost (AER) starts at 8.68%, making it a competitive option in the Peruvian financial market.

This loan also allows financing of additional expenses related to the purchase of the home, such as registry, notary and appraisal costs. This facilitates the financial process for the buyer, as they can include these expenses within the total amount of the loan, thus avoiding additional disbursements.

Banco de la Nación: these are the advantages of the loan

The mortgage loan of the National bank It offers various advantages that make it attractive for those looking to purchase a property. Among the main features are:

• Financing amount: may exceed S/200,000, depending on the applicant’s income.
• Coverage: finances up to 90% of the property’s sales value, which significantly reduces the initial amount that the buyer must pay.
• It is mandatory to take out two insurance policies: one for debt relief and another against all risks for the property, guaranteeing the protection of the property and the financial security of the applicant.

BN mortgage loan: the requirements to access it

To access the mortgage loan from Banco de la Nación, the following requirements must be met by both the client and the property:

• Personal documentation: present an active Multired Visa debit card and the original ID of the cardholder and his/her spouse.
• Proof of income: latest pay slips, recent receipt of services, proof of appointment or termination resolution.
• Additional documents: certified copy of the marriage certificate and documents supporting other income if declared for credit evaluation.

Regarding the property requirements, it is necessary to present:

• Real Estate Registry Certificate (CRI) issued by Sunarp.
• Affidavit of self-assessment, urban property and municipal summary sheet.
• Proof of payment of property tax for the current year.

Guide to applying for a loan to buy your home

The process to apply for a mortgage loan from Banco de la Nación is simple and consists of several steps:

1. Visit the branch: Go to the Banco de la Nación branch closest to your home. The bank staff will provide you with all the necessary information about the conditions and modalities of the loan.
2. Submitting documents: Submit the documents required for the initial credit assessment. If you meet the requirements, you will proceed to the second stage, submitting the property documents.
3. Approval and disbursement: If your application is approved and you submit all the necessary documentation, the amount will be disbursed to your savings account at Banco de la Nación. Finally, you will sign the public deed at the corresponding notary’s office.