eWe are not very sure if it is possible to take out a social housing loan (5% interest) we would have to find out in depth, but we do know that it is possible to take out an "investment" loan with an average rate of 11.5% for 5 years term.
The land would have to be recorded or mortgaged, for this you will have to have these papers up to date:
- Property title.
- Approved general plan.
- Taxes per day.
- Cadastral registry.
- Royal folio.
Note: The detail of the "square meters" is important to be consistent in all.
In case you do qualify for credit, you will be asked for these documents:
- Valid identity card.
- Last 3 payslips.
- Contributions to the AFPs for 1 year (if you work in a private company) and 5 years if you work in a public company.
- Job certificate.
- Electricity bill.
Note: If you are legally "married" and your ID says "single@" it will be a problem, have it updated.
In case you have a business:
- NIT (tax identification number).
- Operating license.
- Purchase support and sales support.
In addition to all this, it will be easier to get the credit if you have other land or vehicle properties in your name.
We leave you a PAYMENT PLAN PDF , with an approximate of the monthly payments that you would have to make.
In case you decide to rent and putting an average rent of $150 - 1045 Bs (it will depend a lot on the location and technology of the house that you want to offer to the tenant), at the beginning what you should get extra monthly would be 984 Bs, which would decrease gradually up to 134 Bs.
In case you do not rent it, your monthly installments can decrease monthly from 2029 to 1179 bs. In 5 years it would be fully paid.