In order for more families to get their long-awaited home, the Mivivienda Fund (FMV) provides facilities with the Nuevo Crédito Mivivienda program. This mortgage loan allows you to finance the purchase of a property, build your land or independent areas and improve your home.
It should be noted that although this credit is granted through the Mivivienda Fund, it is channeled through financial entities such as banks or municipal savings banks.
How much does this credit finance?
This loan finances you up to 90% of the value of the house and the payment commission will always be the same.
Will it be possible to obtain the New Mivivienda Credit twice?
According to the Mivivienda Fund, a maximum of two times can be granted to the same person, spouse or legally recognized partner, but the following conditions must be met:
- Completely cancel the first Mivivienda credit.
- At the time of applying for the second loan you must not be the owner of a home (i.e. the property you obtained had to be sold or transferred to another person)
Furthermore, the second loan will no longer go with the Payer Bonus (BBP).
Financing term
Since 2020, the Mivivienda Fund has extended its financing term, so that the monthly installments are reduced and more accessible to people.
In this line, if before the payment of the installments could reach 20 years, now the maximum time reaches up to 25 years.
What are the requirements to access the benefit?
To buy a house, the following conditions must be met:
- Be of legal age (18 years old).
- Be a natural person residing in Peru or a Peruvian residing abroad.
- Have a minimum down payment of 7.5% of home value.
- Be qualified as a credit subject by a financial institution (IFI).
- Not be the owner or co-owner of another home in any city in the country. Neither the spouse nor the legally recognized cohabitant can own another home, whatever their property regime, or minor children.
- Neither the applicant nor the spouse or legally recognized partner has purchased a home financed with resources from the Mivivienda Fund or the Techo Propio or Fonavi programme.
How to request the New Mivivienda Credit?
To request the New Mivivienda Credit you must follow these steps:
- Ask for rating: Request affiliated financial entities to evaluate your ability to pay and ask for scheduled savings.
- Search accommodation: It can be done through the official page search engine, real estate developers, real estate portals, financial institutions or any other certified means.
- Choose the accommodation: Keep in mind that if you choose a project that is sustainable, you will receive an additional bonus compared to the initial one.
- Buy the house: Once your credit has been approved by the financial institution, you can already be a landlord.
