El Salvador raises housing loans to $75,000

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

Thursday, December 11, 2008

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. Now we must balance the portfolio with a greater risk segment and a lesser one, that improves the outlook," said the president of the Social Fund for Housing, Enrique Onate.

More on this topic

El Salvador: Drop in Interest Rates for Housing

November 2014

The Social Housing Fund wants to revive the housing market by reducing interest rates for the purchase of new or used homes by 5.5%.

In the case of loans to public institutions for the purchase of new houses, the rates will drop from 6.05% to 5.50%, while for private loans for new houses, the rate will be reduced from 8.5% to 8 % for amounts ranging between $31,000 and $125,000.

El Salvador: $93 million Available for Housing in 2013

January 2013

The Social Housing Fund plans to provide $46 million in for housing construction, and another $44 million for purchasing a used house.

According to an article in Elmundo.com.sv this year, the Social Housing Fund (FSV) "expects to increase lending both for new and used housing. In addition, it will reinforce credit for Salvadorans abroad and other lines of financing they offer. "

Salvadoran Housing Fund Allocates $343 million

May 2009

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

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."

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.

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