Panama: $170 Million for Mortgage Loans
During this year, the "Caja de Ahorros" (CA) aims to place $170 million in Mortgage Loans.
Friday, September 17, 2010
By the end of August $73,2 million have already been lent and the goal is to double this amount, pointed Rodrigo Arosemena, General Manager of this organization.
The recently approved amendment to the Housing Act provides a subsidy of 2.5% in the interest rate for mortgage loans that are not greater than $32,000.
The number of active loans for house purchase up to September has increased by 3.4% compared to the same period in 2011.
The International Finance Corporation has granted a loan to Banco General de Panama so that it can offer more mortgages to low-income families.
The president of the Social Fund for Housing announced the expansion of financing for housing of up to $75 thousand.
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