FNA Launches “Generation FNA” Credit Line to Help Young Colombians Achieve Homeownership

One of the biggest reasons a person has is to own their own home. However, the dream of buying a home is usually a challenge for Colombia due to high interest rates and the high prices of housing projects. For this reason, National Provident Fund (FNA) recently launched a special line of credit called “Generation FNA”designed to help young Colombians between the ages of 18 and 28 to achieve their dream of get your first home.

In addition, this new line of credit is added to the voluntary savings and Online Asset virtual platformwhich the FNA offers to support its members in housing matters, such as requesting and changing the service code, updating personal data, checking the status of their procedures, checking their account statements, among others.

How can you access housing credit for young people?

Below we will explain how you can access this housing loan:

• It must be affiliated with FNAeither due to layoffs or voluntary contractual savings (AVC).
• Be between 18 and 28 years old. Important: At the time of filing the credit you must haver 28 years + 364 days.
• Apply for mortgage credit y housing rent.

What are the benefits of credit?

• Funding has been extended from 80% to 90%leaving an initial payment of only 10% 1.
• Financing in pesos and UVR.
• An hour between 5 and 30 years.
• Reduced by 70 basis points (0.7%) credit rate current.
• You can claim joint credits as long as both candidates meet the age conditions.

What type of housing is available?

Young people can choose the type of housing that suits their needs. Options include:

• Social Interest Housing (VIS): These are homes whose commercial value does not exceed a limit established by the government.
• Non-VIS housing: These are homes whose commercial value exceeds the limit established for the VIS.
• Housing rent: It is a lease agreement with an option to buy.
• New or used home: Young people can choose to buy a new home or an existing one.

It is important to mention that with the launch of this new credit program, the FNA hopes access to housing for young Colombiansthus contributing to the improvement of their quality of life.