Banco de Crédito del Perú (BCP) is offering minimum down payment requirements as low as 5% for investment-grade residential mortgages targeted at affluent clients, allowing borrowers to leverage rental income to finance real estate acquisitions.
The Bottom Line
Affluent Borrower Focus: Down payments of 5% to 10% are reserved for high-income clients with significant assets and low credit risk profiles.
Rental Income Underwriting: Banks factor expected rental yields into the debt service calculation, allowing lease agreements to cover the monthly mortgage payment.
Strategic Partnerships: Lenders are partnering with two property management firms to secure future rental income certainty and streamline borrower onboarding.
BCP Adjusts Down Payment Thresholds for Investment Properties
According to Javier Bernuy, gerente del área del negocio hipotecario e inmobiliario del BCP, reporting to Gestión, select borrowers are permitted to put down as little as 5% on properties purchased specifically for investment purposes.
The down payment for investment properties in the affluent segment typically hovers around 10%. Under specific underwriting criteria, the bank allows high-net-worth individuals to drop that initial equity requirement to 5%. This means the financial institution is willing to finance up to 95% of the property’s purchase value.
Borrowers acquiring apartments priced between US$ 80,000 and US$ 120,000 may structure the loan so that monthly rental income matches the mortgage installment. BCP calculates the exact equity percentage needed to ensure the tenant’s rent services the debt.
| Metric / Parameter | Affluent Investment Tier |
|---|---|
| Average Ticket Size | US$ 80,000 – US$ 120,000 |
| Typical Down Payment | 5% – 10% |
| System Average Interest Rate | 7.62% Annual (SBS) |
Risk Mitigation Through Integrated Property Management
BCP has established partnerships with two dedicated apartment management firms to evaluate rental viability. If the client signs a contract with one of these, it offers the bank greater certainty regarding the future income of the mortgaged property.
“That helps people qualify and certain financing conditions can be improved,” Bernuy stated, as reported by Gestión. By executing property management contracts, the bank gains higher visibility into projected cash flows. This integrated approach reduces risk for the lender while simplifying administrative hurdles for the investor.
Víctor Saldaña, CEO of Inmobiliaria Saldaña, noted to Gestión that when a person buys a property to invest, they have their own home and greater liquidity. Underwriting departments evaluate debt profiles by examining centralized credit bureau statuses, active credit cards, and existing vehicular loans.
Macroeconomic Context and Market Positioning
With system-wide mortgage interest rates averaging 7.62% annually, according to the SBS, borrowers with lower risk levels can access a lower interest rate than the market average.
