Amid growing supply of mortgage loansBanco Nación joined this Wednesday with a new line in Purchasing Value Unit (UVA), which will have the particularity of including insurance against excessive rise in inflation.
Customers who take out the credit may pay an additional percentage rate as insurance to avoid this risk. This instrument will act as a guarantee and will be optional. The line is called +Hogares.
The presentation took place in the Marble Hall of the Nación headquarters and was headed by the head of the entity, Daniel Tillard.
For this line, which will have a national scope, US$ 4 billion will be allocated. The objective is to grant up to 40 thousand loans in three years.
In addition to promising the best market rate and the best conditions, the financial institution highlighted the inclusion of an optional clause to avoid possible inflationary jumps.
Currently, mortgage loans have an average rate of 5% plus UVA, which reflects inflation, according to the banks themselves, which in recent days, and after a new lowering of reference rates by the Central Bank of the Argentine Republic (BCRA), which placed it at 50%, moved forward with the launch of new loan lines.
In this regard, Tillard highlighted: “We are beginning to enjoy the effects of not having inflation; We have the mandate of the Government and the President of the Nation, Javier Milei, to promote credit because an important part of the economic recovery comes from bank financing.”
Banco Nación mortgage loans: interest rate and requirements
This is a mortgage loan program for the purchase, renovation, construction and exchange of single and permanent homes throughout the country. It can also be applied to a second home.
Jurisdictions that have tax treatment that do not make loans and the instruments necessary for mortgages more expensive will be prioritized, Tillard explained.
- The maximum amount to be financed will be 75% of the value of the home.
- The maximum amount per credit will be equivalent to 105 thousand UVAS, which represents US$ 89 thousand (in the MEP dollar, quote as of 5/1/2024) or $93,828 million.
- The value of the home should not exceed the equivalent of 140 thousand UVA, approximately US$ 120 thousand at the MEP dollar rate.
- The capital will be adjusted for UVA variation and an interest rate of 4.5% TNA will be added.
- The fee-income ratio may not exceed 25%.
- The term of the loans will be 5, 10, 15, 25 and up to 30 years.
Those who request the loan may contract an option that will allow them to “cap” the fee. This limit will result from applying an adjustment through the salary variation coefficient (CVS), to avoid inflationary jumps.
This clause will be optional, will have a premium of 1.5% per month and may only be exercised 180 days after the credit is granted.
Banco Nación mortgage loans: who can access them
- Recipients. BNA clients in a dependency relationship, retirees and pensioners who receive salaries from the institution.
- Age limit. You must be 85 years old by the time the installment schedule ends.
- Income. Income from other members of the cohabiting family group or non-cohabiting co-debtors may be added.
- Since when. The credits will be available starting May 20 on the entity’s website.
With this presentation, the Nación joined the offer that banks such as Hipotecario, Ciudad, ICBC, Del Sol, Supervielle, Banco Provincia del Neuquén (BPN) and Banco de Corrientes have been launching for weeks. The Banco de Córdoba joined these in the last few hours.
Bancor mortgage loans, in detail
The mortgage line is for the acquisition, construction and expansion or completion of housing and has a limit of 50 billion pesos.
They are intended for families in Córdoba and also for single-parent households, single people without children, and there is the possibility of adding contributions from the family group such as parents, spouses and cohabitants.
- Mortgages grant a maximum per applicant, to date, of 90 million pesos and have financing of up to 20 years in UVA with a TNA of 4.90%, the lowest in the market, throughout the entire term.
- The initial loan is 17 million pesos (20 thousand UVA), with a fee close to 115 thousand pesos and with required income of 470 thousand pesos.
- Meanwhile, for the maximum amount the fee is 554 thousand pesos and income of 2,250,000 pesos must be collected. This means that, for both cases, for every 10 million pesos, the fee is 66,150 pesos, to date.
- The management of the entire loan is 100% digital and begins on the Bancor website: www.bancor.com.ar, with personalized support on-line along with an advisor who guides the entire process.
- The Bank of the Province of Córdoba established a quota of 35 billion pesos to finance construction, expansion and completion; and 15 billion pesos for the purchase of a single home for permanent occupancy.
- These funds, which will be injected into the market to respond to housing demand, will mobilize the real estate market and the construction industry in Córdoba.
- The properties that can be acquired with the credit and with the suitable bank are gathered on the digital platform apptocreditos.bancor.com.ar
From there, interested parties can access the offer of the main cities throughout the province, in an agile, complete and secure way. And, in addition, owners and real estate agencies have the possibility of adding their properties for sale so that they enter the system.
Bancor personal loans to improve the house: conditions
Added to the mortgage loans is a line of personal loans for housing for construction materials, furniture and home equipment for an amount of up to 16,800,000 pesos.
This is the UNA line, an agile financing with a single signature, and a very low rate of 49% with terms of 12 and 24 months, and with the option in UVA at 4.9% per year and a term of up to 72 months.
These loans are managed directly at participating businesses without going through a Bancor branch. The corrales and shops for home included They are on the BANCOR website
Financing of materials with the Cordobesa Card
- Together with the Chamber of Hardware, Sanitary, Iron and Related, plans of 3, 6, 9 and 12 fixed installments are offered in participating businesses.
- The purchase amount will be from 1 million to 14 million pesos, depending on the credit rating.
- This allows access to purchases of artifacts, materials, or needs that can be covered in the first instance with a Cordobesa Credit card.
Bancor developmental line loans, including
Development companies that have an agreement with Bancor are included in the mortgage line.
Their offer of housing (houses or apartments) or construction on lots that do not yet have deeds is also available and suitable to be financed with these credits and the same conditions apply as the rest, with the developer being the one who guarantees each operation so far. of the writing.
Construction materials at lower prices
Bancor adds an additional benefit for borrowers of construction, expansion and completion loans: a 10% discount on purchases made with a Cordobesa debit card in businesses affiliated with the Chamber of Hardware, Sanitary, Iron and Related Stores, and also 3-year plans ,6,10 and 12 installments for purchases with a Cordobesa credit card.
Preferential fees, lower costs
Bancor’s alliances with the professionals involved in the purchase, appraisal and deed processes add another point in favor, on the way to reducing costs for those requesting the mortgage loan.
Notaries have reduced fees, appraisers also apply a preferential rate to prepare their reports; and real estate professionals affiliated with the Professional Association of Real Estate Agents (CPI) and the Chamber of Real Estate Brokers (Cacic) contribute properties that the bank certifies and publishes on its Appto platform to provide greater security and agility to the process.
The presentation was also attended by the Minister of Production, Science and Technological Innovation, Pedro Dellarossa; the general secretary of Uocra, Néstor Chavarría; the president of the Chamber of Real Estate Brokers, Lucas Bergo; the president of the College of Real Estate Professionals, Alejandro Hadrowa, and the vice president of the Chamber of Hardware, Sanitary, Iron and related, Agustín Requena, among others.
