The loans announced so far are to buy, build, expand, recycle or finish a house
On the other hand, these loans have the possibility of request an extension of the deadline if the amount of the installment to be paid exceeds 10% of the installment value resulting from having applied to that loan a capital adjustment by the Salary Variation Coefficient (CVS) since its disbursement. In these cases, the original term of the loan may be extended by up to 25%. For example, to buy a property worth around 125 million, you need income of approximately $3.2 million.
In the case of city BankIf the person, family or group of borrowers have an income of $1,900,000, they can access, as an example, a loan of $70 million over 20 years with an initial payment of $482,000. If the amount is less, $10 million over 20 years, the initial monthly payment is $70,000.
UVA mortgage loans: how to calculate the fee
The analysis is case by case. But for example, in a line of 50 million pesos or 50,000 dollars for a 25-year term, The fees are $400,000. Blank income of $1.6 million is needed.
In the case of a couple, you can add up the income and apply for the loan together. In the case of the City, as clarified in the previous answer, for a loan of $70 million over 20 years, the initial payment will be $482,000. If the amount is 482,000. If the amount is less, $10 million over 20 years, the initial monthly payment is $68,943.32.
UVA mortgage loans: frequently asked questions
There are several questions that we can ask ourselves when analyzing taking a loan with these characteristics, such as:
What type of property can I buy taking into account the maximum amounts granted by the banks that announced loans? We must consider the market prices where a 40 m2 studio apartment has a price of about US$100,000, a two-bedroom and 50 m2 is worth around US$120,000 and a three-bedroom and 80 m2 is worth US$160. ,000.
Which bank offers the most accessible line of credit? The line with the lowest rate is that of Banco Ciudad and is 3.5% per year, but it can only be accessed by those who buy a single, permanent family home located in the Buenos Aires downtown. This is within the perimeter included by the program of the Sustainable Urban Development Fund (Fodus) which includes San Juan, Entre Ríos, Callao, Santa Fe, Leandro N. Alem and Paseo Colón avenues, on both sidewalks.
This area is within the CABA Government plan to promote the reactivation of the microcenter that includes tax benefits for developers who convert offices into homes or facilities for those who move to the microcenter as tenants. Now this line of credit is added for those who want to buy a home in that area.
The rest of the requirements are the same as the general loan: being a client of the bank with proof of salary, up to 75% is financed with a maximum of $250 million, for 10, 15 and 20 years, and the percentage of salary that must not exceed the 25% quota.
For example, in relation to the amount of the monthly payment: For every $10 million requested over 20 years to acquire a home in the downtown area, the initial monthly payment is 60,000 pesos per month than in the case of a property located outside that area.
In a line of $50 million or $50,000 with a 25-year term, the installments are $400,000 and blank income of $1.6 million is needed
What is the difference between the loan to build or to buy from Banco Hipotecario?: There are no big differences. The only thing is that if the plaintiff requests the money to build, the entity proposes an advance payment and two disbursements against the progress of the work. The rest of the conditions are maintained and up to 250 million pesos and up to 80% of the work is financed. In this case it must also be used for the construction of a first or second home. The rates are 8.5% and the preferential rate is 4.25% during the first year for the bank’s clients. The maximum payment term is 30 years. Capital is adjusted by UVA.
What happens with loans to complete the construction of a home? In the Mortgage, the amount to be lent is 125 million pesos.
What must happen in the Argentine economy so that UVA credit installments do not skyrocket? The evolution of inflation is key because it is what determines the increase in the quota, but another variable to observe is the changes in people’s real salaries.
Another key indicator will be the evolution of the dollar: a possible devaluation and the impact that an increase in the exchange rate has on prices could become a problem because it would increase inflation.
