After the announcements of hipotecary Banc and the city Banktwo private entities today announced the details of their UVA mortgage loan lines that they will begin to offer to their clients in the coming days. Supervielle and ICBC They have already set their rates, terms and amounts to go out and compete with the public banks that were at the forefront of the issue, with thousands of queries received in the first days.
The Supervielle line will have no amount limit, with a maximum term of 30 years and “the lowest rate on the market for those who collect their salary at the bank”: 4% in UVA during the first 12 months and 5% for the rest of the loan. For clients who do not prove their salaries, the rate will be 8%.
Those who want to buy the home, whether permanent or not, may take the loan as long as they have minimum income of $1 million pesos. This amount can be reached by combining salaries with spouses, cohabitants or parents. The monthly fee may not exceed 25% of the verified net income.
To expand or renovate the property, the loan will have the same conditions as in the previous case but the minimum income is reduced to 450,000 pesos. Starting tomorrow, on the Supervielle website you will be able to carry out loan simulations and make inquiries about other loan requirements.
“Mortgage loans allow us to return to our natural function as a bank, which is to capture savings and channel them for long-term investment projects, or, as in this case, financing for home acquisition, generating a virtuous circle of boosting economy,” he said. Patricio Supervielle, CEO of Grupo Supervielle.
In the case of ICBC, UVA mortgage loans will be intended for the purchase of both a single home and a second home, renovation and extension. The ratio of the fee to the applicant’s income is 25%, with a term of up to 15 years and financing of up to 75% of the sale value of the property to be acquired.
“Mortgage loans allow us to return to our natural function as a bank, which is to capture savings and channel them for long-term projects” (Patricio Supervielle)
Regarding the interest rate, the ICBC line has a cost of 5% in UVA for those who collect their salary at the bank and 7.5% for the rest of the applicants. The entity reported these conditions and announced that “in the coming weeks” they will be able to be managed.
These UVA mortgage loans have a clause that foresees the situation in which inflation soars above expectations and salaries fall behind. It establishes that if the installment adjusted for inflation is exceeded by more than 10% by the installment for the same loan adjusted by the salary index (CVS, Salary Variation Coefficient), the borrower may request an extension of the term. original up to 25%.
Andrés Lozano, Head of Personal and Business Banking at ICBC, said: “With the launch of these mortgage loans, we are committed to helping more people achieve their dreams of owning their own home, something that our clients have been asking us for,” he concluded. .
The announcement by Supervielle and ICBC came after two other banks with state participation made their lines public. Banco Nación, for its part, is also preparing the fine print of its UVA mortgage line to launch it in the short term.
The City line offers an amount of up to 250 million pesos, for a term of up to 20 years, in UVA plus an annual nominal rate of 5.5%. It will allow financing up to 75% of the value of the property to be acquired. In turn, the fee-income ratio should not exceed 25% of the income of the applicant or, if you prefer, that of your family group. This line is available regardless of whether it is permanent housing.
A special line is also offered for the purchase of a home. family, unique and permanent occupation in the Buenos Aires Microcenter. In this case, The rate will be lower, 3.5%, plus the UVA update. This specific line accompanies the CABA Government’s plan to develop, through housing incentives and tax benefits in strategic activities, the area between San Juan, Entre Ríos, Santa Fe, Leandro N. Alem and Paseo Colón avenues.
Regarding the value of the initial payment, it is estimated that for every $10 million requested over 20 years to acquire a home in the Microcenter of CABA, the initial monthly payment is $58,149. In the case of the general line, with the rate of 5.5%, for the same term The fee for every $10 million will be $68,943.32.
In the case of hipotecary Bancthe loan will be accessible from May 15 and will be for the construction or acquisition of a first or second home, with a UVA rate of 4.25% for the first year in the event that those who receive their salary in the entity and 8.5% for the rest of the loan.
The loan is for up to $250 million and finances up to 80% of the value of the property. The applicant must have 20%. It can be paid in up to 30 years. It also offers a line for expansion and renovation, with a maximum amount of $125 million.
The monthly fee cannot exceed 25% of the income of the person requesting it and Banco Hipotecario will facilitate the conversion through the MEP dollar bridge sale at the same branch.
In the Mortgage, for a loan of of USD 40,000, the initial monthly fee is $202,400, so those who demonstrate income of $809,600 will be able to access.
As an example, if the cost of the property is USD 50,000, the applicant would have to initially put USD 10,000 out of pocket, plus about USD 4,500 for the expenses incurred by the operation.
While, For a property of USD 125,000, the credit to be managed would be USD 100,000 and the monthly payment would amount to $505,000, which requires income of $2,020,000. And given that the expenses would be around USD 11,250, the total to be covered by the buyer would amount to USD 36,250.
