[ad_1]
In Colombia, there are many subsidies and support programs in place for everyone to find decent housing. One of the most important is the Mijiaya program, which aims to help families with fewer resources buy homes. A key component of this process is the Social Programme Beneficiaries Selection System (Sisbén), which categorises citizens according to their socioeconomic level, thus determining their eligibility and the amount of subsidies they can receive.
you might be interested: Here are the steps to apply for Mi Casa Ya housing subsidy
To qualify for the “Mi Casa Ya” housing program, applicants must belong to Sisbén’s 1, 2 or 3 levels. The program is designed to support families in purchasing new or second-hand homes. Through direct subsidies or mortgage co-financing.
The Mijiaya program provides two main types of subsidies: interest rate subsidies and down payment subsidies. The amount of these subsidies varies according to the Sisbén level of the applicant family.
1. Interest rate subsidy: The purpose of this subsidy is to reduce interest rates The beneficiary takes out a mortgage to buy a house. The subsidy can be up to 4 percentage points above the credit rate, depending on the Sisbén class of the family.
2. Down payment subsidy: This subsidy is helpful A portion of the down payment on a house. Subsidies for Sisbén Class 1 and 2 households will reach up to COP40 million until 2024, while for Class 3 households, the amount can vary but is generally lower.
You can read: Mi Casa Ya: ID verification required for subsidy application
Housing loan.
The specific amount depends on the Sisbén level
The exact amount of the subsidy depends on several factors, including the cost of housing and the type of subsidy applied for. However, an overview of the different levels of Sisbén subsidies can be provided:
– Level 1: Families belonging to Sisbén Level 1 usually receive the greatest financial support. They can benefit from subsidies of up to P40 million Down payments and mortgage rates are significantly reduced. In some cases, subsidies can cover nearly 100% of the down payment on an affordable home.
– Tier 2: Tier 2 households also receive considerable subsidies, but less than Tier 1 households. Subsidies up to 30 million pesosthe reduction in interest rates, although significant, has not reached the same level as for first-tier households.
– 3rd floor: Residential property on 3rd floor in Sisbén They can receive subsidies of up to 20 million pesos Down payments and mortgage rates can be reduced by up to 3 percentage points. While this is less support than Level 1 and 2, it is still a significant help for homebuyers.
You can also see: Regions to provide more than $1 billion in housing subsidies as Mikaya faces setbacks
What you should know before buying a new property.
stock
For many people, these subsidies make it possible to acquire their own home, an achievement that can significantly change their living conditions. The possibility of obtaining interest rate and down payment support reduces the financial barriers that hinder homeownership and promotes housing stability and security.
briefcase
[ad_2]
Source link
