Salvadoran Housing Fund Allocates $343 million

In five years, the fund has awarded 34,195 loans that have benefited 179,900 people.

Wednesday, May 27, 2009

Enrique Oñate, president of the institution stated that the next administrator should define new sources of funding for the institution.

Journalist Irene Valiente reported the statements of Enrique Oñate in Laprensagrafica.com: "Loan amounts were between $14,000 and $75,000 for workers with incomes of up to 2.5 times the minimum wage."

More on this topic

El Salvador: $ 15 Million for Housing Loans

November 2010

Multi-sector Investment Bank (BMI) has launched a line of credit for home purchase or remodeling.

Funding is through financial intermediaries (commercial banks or credit unions).

Ricardo Vega, BMI official said the new credit line aims to address two different niches.

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.

Salvadoran housing fund increases credit coverage

November 2008

The Social Housing Fund announced that it has increased its credit coverage to attend to other Salvadoran segments.

These include Salvadoran abroad, retirees, IPSFA members and workers with variable income, independent workers and professionals, business people, people with businesses at home and micro, small and medium sized business owners.

El Salvador: Will simplify credits to buy homes

October 2008

The approval of the credit terms and conditions to acquire a home is part of the strategy promoted by the Fondo Social para la Vivienda (Social Housing Fund) to increase the loan coverage.

The credit policy also seeks to reduce the deficit of social interest housing, assured the president and executive director of the FSV Enrique Oñate Muyshondt yesterday.

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