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The return of mortgage loans generated great expectations in the real estate market and in thousands of Argentines who want to buy a home.
These loans were announced by different entities, after the Central Bank of the Argentine Republic (BCRA) announced a new reduction in interest rates for fixed-term deposits.
As a result of this, the hipotecary Banc, Banco Supervielle and Banco Ciudad were the first three to announce their return. When will its official launch be?
What is the UVA mortgage loan?
UVA mortgage loans are loans that, when adjusted monthly for inflation, have a low initial payment. At the same time, it will not be a requirement to have or meet a certain income limit to request it.
These credits are intended for the acquisition or exchange, construction or renovation of housing for permanent occupation. In general, they are usually intended for people in work activity.
Which banks offer the new 2024 mortgage loans?
hipotecary Banc
The first to announce it was Banco Hipotecario, whose official launch will be on May 15. The entity confirmed the possibility of accessing two lines of credit for up to $250,000,000 and for a maximum term of up to 30 years.
In that sense, they stressed that in the case of construction it will cover “up to 80% of the construction budget” and for the acquisition “up to 80% of the value of the home.”
However, the loan will be adjusted in Acquired Value Units (UVA) plus a final interest rate of 8.5% for employees under a dependency relationship, people who work independently and/or retirees.
Likewise, Banco Hipotecario announced the complete list of requirements for each line of financing, which can be requested through is link.
Amount of credit$ 250,000,000$ 125,000,000FinancingUp to 80% of the work budgetUp to 80% of the value of the homeUp to 50% of the total work budgetUp to 100% of the budget without exceeding 35% of the value of the current guaranteeMaximum term360 monthsAnnual nominal rateMarket open 8.5% Clients with credit of assets in the bank 4.25% the first 12 installments, then 8.5% (bonus promotion 50% rate Open market first 12 installments)CapitalAdjustable by UVADestinationFirst and second homeDisbursementsAdvance and 2 disbursements against progress of construction only disbursementIncome fee ratio25% – For Salary Plan clients, income is considered at the rate without promotion (1)Fire insurance0.00015Mortgage Guarantee
Banco Supervielle
Banco Supervielle announced that it will also join the delivery of mortgage loans. According to the entity, this benefit will be allocated to clients and non-clients, whose objective is to acquire a permanent or non-permanent home or who want to expand or renovate their home.
The measure of this private bank arises from “the commitment to promote the growth and economic development of the country and its people.” From May 4, all interested parties will be able to simulate, for free, their loan installment through this link.
Until now, the requirements and conditions to request a mortgage loan from Banco Supervielle have not been made known.
city Bank
Banco Ciudad will also offer credits for the acquisition, renovation, improvement and expansion of unique, permanent and non-permanent homes. The loan will be for $250,000,000, with a term of up to 20 years and an interest rate of 3.5% (plus UVA).
In that sense, the head of the Buenos Aires Government, Jorge Macri, explained that “the entity decided to take a step forward in this context of low inflation, which is still high, but has a clear downward trend, in order to comply with the dream of being able to access one’s own home”.
Starting this Monday, April 29, the credits will come into effect through the Banco Ciudad website and in all its branches. In addition, mortgage lines will allow financing up to 75% of the sale value of the property.
AmountTerm (months)TNAInitial fee UVAInitial fee $S 10,000,0002403.50%66.91S 58,149.47UVA quote as of 04/23/2024: $ 881.25AmountTerm (months)TNAInitial fee UVAInitial fee $S 10,000,0002405.50 % 79.33S 68,943.32UVA quote as of 04/23/2024: $ 881.25
