Fogaes, established in 2023, facilitates access to mortgage loans for the purchase of a first home. This program allows the State to act as guarantor, enabling access to credits with up to 90% financing.
State support began in 2023 with an initially planned duration of one year, scheduled to conclude in April 2024. However, a recent modification to the Fogaes Law will make its extension possible.
Until when can you apply to Fogaes
The Fogaes was extended for six months, so it will be in force until December 2024.
Check how to apply for Fogaes 2024
To apply for Fogaes, procedures must be carried out directly with the financial institution. The banks available to apply to Fogaes are:
- State Bank
- international Bank
- Scotiabank
- BCI
- Itaú Corpbanca
- Bice
- Santander
- Falabella Bank
- Coopeuch Cooperative
The procedure for Fogaes can be carried out in person or online. Each bank has a specific section on its website dedicated to Fogaes. In these sections you can review how to proceed, what documents you must present and verify whether you meet the necessary requirements.
Who can apply to Fogaes?
The requirements to apply for Fogaes, which provides up to 10% of the value of the home, are the following:
- Being a natural person.
- Not owning a property with residential use.
- The value of the home cannot exceed 4,500 UF.
- The loan should only be for the first home.
- Not appearing in the National Registry of Debtors of Child Support
- Not having obtained this benefit previously.
- Not having received any housing subsidy or state benefits for home financing.
