Salvadoran mortgage portfolio surpasses $2 billion

The banking system has a mortgage portfolio that surpassed $2 billion, according to a study presented by the Multi-sector Investment Bank.

Monday, August 18, 2008

The Social Housing Fund (FSV) mortgage portfolio, valued at $878.1 million in July of this year and which corresponds to 121,075 credits for new and used houses, should also be added to the total figure.

More on this topic

Mortgage Lending Slows Down in Guatemala

November 2010

Until September there was a reported growth of 6.87%, less than the 12% of 2009 and the 25% of 2008.

According to the Superintendence of Banks, from January to September 2010 total mortgage loans totaled $ 2.07 billion.

Mauricio Alvarez, strategic planning manager of Banco de los Trabajadores, told Prensalibre.com, "The economy has barely recovered and the most affected sector has been construction, so one of the reasons for this behavior is a lower housing demand."

Panama is number one for housing credit in Latin America

June 2008

Panama is the leading nation in Latin America for the provision of housing credit.

According to a Banco de España study, mortgages for housing purposes make up only 8 percent on average of the gross domestic products of Latin American countries. But in Panama it accounts for 24 percent of GDP.

Social Housing Fund to issue $68 million in credits up to 2009

June 2008

For the period covering the final year of the current presidential administration, the Social Housing Fund has budgeted nearly 68 million dollars to be invested in financing new housing.

Fund president Enrique Oñate said that, as a result of measures taken to assure financial sustainability and prudent application of strategies since 2004, the fund is issuing money from its own resources to meet the potential demand for the following year.

Loans for Social Housing up to $125,000

October 2012

The Social Housing Fund of El Salvador has raised the maximum amount for loans to $ 125,000, following a request of the Salvadoran Chamber of Construction.

It has also announced the unification of the rates for loans for the purchase of affordable housing which will remain at 6%.

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