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.

Arosemena commented to Panamá América that "...we will focus on promoting savings and we will increase mortgages, mainly those with preferential interest or under $30 thousand."

More on this topic

Nicaragua: Preferential Interest Rate for Housing loans

May 2014

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.

Responding to industry demands and seeking to motivate the new housing market, the recently approved reform also provides, as well as the subsidy, that any bank can apply the exemption of 15% from Value Added Tax (VAT) for mortgage loans with this same ceiling rate.

Increased Demand for Mortgages in Panama

November 2012

The number of active loans for house purchase up to September has increased by 3.4% compared to the same period in 2011.

During the same period, according to the Panamanian Credit Association (APC) the balance of the mortgage portfolio also reported a growth of 15.4% compared with 2011.

$50 million for Banco General de Panama

August 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 $50 million long-term IFC funding , which will run for seven years, will enable Banco General match the maturity needed to finance mortgages for low-income groups.

El Salvador raises housing loans to $75,000

December 2008

The president of the Social Fund for Housing announced the expansion of financing for housing of up to $75 thousand.

Interested parties can qualify for said amount for a new or used house, debt transfer or personal construction.

"Risk agencies tell us that we have a high concentration for only a part of the population.

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