Only during this year, the Government estimates to place 11,000 loans from the New Credit MiVivienda, while with the program Own Roof it hopes to benefit 51,000 families. A total of 62,000 beneficiaries who in 2021 will be able to realize the dream of their own home.
But New Credit MiVivienda and Own Roof are not the only programs that promote the MiVivienda Fund (FMV). The company attached to the Ministry of Housing, Construction and Sanitation (MVCS) that promotes the access of the population –especially of the middle and lower sectors– to adequate housing, it also has products such as MyConstruction and MisMateriales.
These programs, as stated in the FMV, “They have been designed so that more Peruvians can access a decent home with the active participation of the real estate developer and builder”.
HOW DO THEY WORK?
Under any of these modalities, families receive financial support to purchase a home or to improve the conditions of your current property.
In the case of new homes, state economic support – which varies according to the program – allows the real estate developer and / or builder to develop different housing projects that will be available to many families throughout the country.
MORE INFORMATION: How to access the ‘New Mivivienda Credit’ to buy a house
OWN ROOF PROGRAM
The Techo Propio Program (PTP) It is aimed at Peruvian families with fewer resources. As part of its main attributes, the PTP grants the Bono Familiar Habitacional (BFH), which is a subsidy that serves as a complement to the savings that many families have to access a new home or improve the one they already have. It has four products:
1. Acquisition of a new home
Facilitates financing and access to affordable housing (VIS). In addition to having electricity, drinking water and sewage services, a VIS has a maximum value of 14 UIT (S / 61,600 in 2021). In this case, the BFH amounts to S / 37,625 and its value has been increased by the pandemic.
2. Construction on own site
It is aimed at beneficiary family groups (GFB) that have a property, on which a VIS will be built, but do not own another home, land or independent air at the national level.
In this case, the BFH –also raised by the pandemic– amounts to S / 25,800 and is based on the value of the VIS, which should range between 5.9 UIT (S / 25,960) and 20 UIT (S / 88,000).
For families to access the BFH, they must have a minimum saving of 0.45 UIT (S / 1,980).
3. Home improvement
Under this modality, remodeling, rehabilitation, completion or expansion works of the house are carried out, in order to give the existing building the characteristics of a VIS.
In this product, the value of the home is constituted by the value of the work, which results from the budget of the work plus the value of the self-appraisal.
The value of the BFH will depend on the value of the improvement, which must be at least 2.5 UIT (S / 11,000). In this case, a BFH of 2.3 UIT (S / 10.120) will be delivered and a minimum saving of 0.2 UIT (S / 880) will be required.
NEW HOME CREDIT
The New MiVivienda Credit (NCM) is aimed at facilitating the acquisition of a home for middle-income people. It is a mortgage loan that allows you to finance the purchase of a finished home, under construction or in project, that are for the first sale or used, whose value ranges between S / 58,800 and S / 419,600.
The main benefit of the NCM is the Good Payer Bonus (BBP), which today has two modalities: Traditional BBP and sustainable BBP or MiVivienda Verde. In the first case, a discount of between S / 24,000 or S / 6,800 is granted as a reward for punctuality in the payment of monthly installments. While the Sustainable BBP reaches S / 29,000.
MORE INFORMATION: Mortgage lifting, what is it and how is it done?
It allows the financing of the construction, expansion or improvement of a home by a developer or builder, so it will be necessary to present a work project signed by a developer or builder.
In this case, the credit granted ranges from 3 UIT (S / 13,200) to 25 UIT (S / 110,000) and the term to pay it is up to 12 years. The initial fee is constituted by the land or property where the works will be carried out and can be requested more than once for the same home up to the maximum amount established.
The financial institution disburses the loan to the developer / builder according to the progress of the work.
It is focused on facilitating the purchase of materials to improve a home under certain requirements. The loan ranges from S / 12,150 to S / 40,500, and may be repaid in five years. It has a fixed interest rate and the initial installment of the loan will be the value of the land where the construction will take place.