Housing Loan for Social Interest Programs
ABC Program
Investment Plan:
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· House purchase
· House construction on own lot.
Housing Loan for Social Interest Main Features
ABC Program:
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Currency: |
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Maximum Financing %: |
Equal to $1.000.00 |
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Minimum Financing Amount: |
Housing solution maximum amount in accordance with Banhvi. |
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Maximum Financing Amount: |
Up to 30 years |
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Guarantee: |
Mortgage / Open Mortgage |
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Loan Term: |
1% Formalization |
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Commissions: |
1st and 2nd year 10% fixed As of 3rd year TBP + 1 Floor rate = Formalization rate |
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Maximum financing percentage: |
Up to el 95% |
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Maximum debt level: |
Up to $2500 35% +10 +10 Between $2501-$5000 40% +10 +10 More than $5000 45% +10 +10 10pp are added if salary earner and salary is deposited in BCR account 10pp are added if 10 day in advance payment as per SUGEF during last twelve months. |
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Appraisal payment: |
According to loan amount |
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Insurance: |
1. FIRE INSURANCE Coverage: 2. LIFE INSURANCE Coverage: Note: These insurances can be purchased to the brokers and insurance companies authorized by SUGEFE. (Meeting underwriting requirements of credit). |
Other conditions:
· In case of owing a property, house construction on such said shall be financed
· At least 1 automatic charge with the BCR.
· The program applicant must be prequalified prior to program start.
· House cost plus lot value as stated on appraisal report and regulatory margins should not exceed regulations established by the Banhvi.
· Being part of a household, i.e. a group of people under the authority of a chief or head of family living under same roof and sharing the household duties. There must be at least one adult person.
· Not owning a house or other property. In the case the family owns a lot, the family can use bond to build the house.
· Not have previously received another bond, as it is given only once.
· Household income should be less than or equal to 4 minimum wages of unskilled construction sector worker that are adjusted every six month.
· Shall open a savings account, subscribe the ABC vertical program contract and accomplish saving target during 3, 6, 9, 12 or18 months.
Request your Loan now in any of BCR branches.
Interest Rate Liability Disclaimer
Interest rates are object to change at any time without previous notice due to financial market changes. For such a reason, information included in current web site is for reference purposes only. Any rate related to a specific transaction or business, shall be the effective rate as of formalization date.
For further information regarding interest rates, please call Customer Assistance Department at (506) 2284-6600 or write to ServiciosBancaElectronica@bancobcr.com