Young people between 18 and 28 years old can access benefits to purchase a new home.
In Colombia, theYoung people have a clear and shared dream: to become owners of their own homeand secure a home for themselves and their future families. This objective, fundamental in your short- and long-term life plan, reflects a deep aspiration for stability and personal growth.
To achieve this goal, many young people must turn to financial entities that provide them with support in purchasing housing, given that salaries in the first years of work are usually low. However, this financial aspect is not an impediment to purchasing a home.
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One of the main alternatives for these young people is to accessmortgage loans such as the ‘Generation FNA’ programof the National Savings Fund (FNA). This program, formerly known as ‘Young Homeowners’, is a national government initiative designed to make it easier for young people to purchase their first home.
How to acquire housing credit for young people between 18 and 28 years old?
Generation FNA is a specialized line of credit foryoung Colombians between 18 and 28 years old, offering benefits that make it easier to realize the dream of having your own home. It stands out for benefits specially designed for those young people who receive low incomes.
Among the main benefits are:
- Increased Financing: The program allows financing up to 90% of the value of the home, reducing the initial payment to 10%.
- This represents a significant relief for young people who would otherwise have to save a considerable sum for entry fees.
- Reduction of Interest Rates: A reduction of 70 basis points (0.7%) is offered in the current credit rate, making monthly mortgage loan payments more accessible and manageable.
Requirements for young people to access a housing loan
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To access the FNA Generation housing loanyoung people must meet the following requirements:
- Age: Be between 18 and 28 years old.
- Income: Receive income of less than two minimum wages.
- Affiliation with the FNA: Be affiliated with the National Savings Fund, either through Severance Payments or Contractual Voluntary Savings (AVC).
This program represents an opportunity for young Colombians to establish themselves and build a solid future.
Finally, although the path towardsHomeownership can be fraught with financial challenges, young Colombians can overcome them. This initiative not only promotes stability and personal growth, but also contributes to the economic development of the country by facilitating access to housing for new generations.
