How much money does the National Savings Fund lend to buy a new home?

How much money does the National Savings Fund lend to buy a new home?
How much money does the National Savings Fund lend to buy a new home?

According to a report from the Fedelonjas Real Estate Market Offer, in Colombia, 40.2% of households live in rentals, while more than 90% of rentals belong to strata 1,2 and 3.

Taking the above into account, the National Savings Fund becomes the alternative to encourage Colombians to have their own home through their unemployment benefits, savings and credits that allow them to fulfill their dreams.

(See also: Receiving unemployment benefits will now be easier due to changes they will make to the procedures)

How much money does the FNA approve for credits?

The National Savings Fund approves loans of up to 1,000 SMLMV for all those who wish to request it. However, for it to be approved, the monthly allowance and other income that influence the payment capacity of each Colombian must be taken into account.

On the other hand, it is important to keep in mind that the National Savings Fund finances:

  • 80% of new and used housing
  • Up to 50% for home improvement
  • Up to 50% for individual housing construction

How long does the National Savings Fund give to pay loans?

  • Up to 30 years for UVR credits.
  • Up to 20 years for credits in Pesos.

(Also read: National Savings Fund made key adjustments for those who want to buy a house in Colombia)

What are the benefits of requesting a loan from the National Savings Fund?

  • You can make your credit payments from abroad.
  • All procedures are virtual, so you do not need a representative to approve your credit.
  • The credit application does not require an apostille.
  • You can make partial or full payments on your credit early without penalties.
  • Personalized attention with exclusive lines and advisors for Colombians residing abroad.
  • Access to housing subsidies.
  • Benefits for young people with Generation FNA. If you want to simulate your credit, you can do so through the following link.
 
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