Why buy a social housing?
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Loading... - Noah Harrison
- 28 Dec 2021
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It is a good time to buy a new house in Colombia, learn more about this type of home and its advantages.
What is VIS housing?
The VIS home is the one that brings together the elements that ensure habitability and quality standards of urban, architectural and construction design whose maximum value is 150 SMLMV (current legal monthly minimum wages) in urban spaces with concentrations of more than 1 million inhabitants , and 135 SMLMV in other spaces that do not exceed this amount of population.
There is also the VIS urban renewal housing that includes properties located in an urban renewal zone that have the characteristics mentioned above and that do not exceed the limit of 175 SMLMV.
How much are the caps in pesos?
To find out, we must bear in mind that the value of the legal monthly minimum wage in force in the country for 2021 is $ 908,526 pesos.
This being the case, in the case of urban spaces the maximum value would be $ 136,278,900 pesos. In other spaces the maximum value would be $ 122'651,010 pesos, and in the VIS urban renewal house the maximum value would be equivalent to $ 158,992,050 pesos.
Government subsidies for VIS housing
Currently there are different subsidies offered by the National Government to encourage the purchase of houses and apartments of social interest to all types of public.
My house now
This subsidy seeks to benefit families that have incomes of less than 4 SMLMV, that is, $ 3,634,104 pesos, and are interested in buying a new VIS-type home.
These households will be able to obtain a monetary subsidy of $ 27,255,780 pesos or of $ 18,170,520 pesos depending on their income, and a coverage at the interest rate of 4 percentage points for affordable housing.
Young Owners
This subsidy was created to facilitate access to housing for the population between 18 and 28 years old. It has three components:
1. Preferential conditions in the VIS home loan 2. Guarantees for the mortgage loan 100% subsidized by the National Government 3. Personalized support throughout the process.
This program grants special financing conditions for mortgage loans. The National Savings Fund will offer loans with historically low interest rates, from 6.8% EA
In addition to this, the National Government will serve as guarantor, through a 100% subsidized guarantee for the low-income housing loan, which applies to young people with incomes below 2 times the minimum wage.
The value of the installments you pay with this subsidy will depend on the value of the home and the credit to be financed. Read More….
