Fund for Housing Construction

The proposal to create an entity in Guatemala in which workers can save up to buy a home is under review by two law firms, and it is expected to be presented to the congress this year.

Wednesday, April 18, 2018

With the creation of the Housing Savings Institute (AVI by its initials in Spanish), which is based on similar experiences that have taken place in Mexico and Colombia, it is intended to include among the beneficiaries people who receive family remittances, workers in the informal economy and the self employed. 

See also "Central America: $4 billion for Residential Projects"

Elperiodico.com.gt reports that "...The model that would be applied is that an employer makes a contribution to the employee via electronic payroll system, and it is deposited in an individual capitalization account in the AVI, which will be under the supervision of the Superintendency of Banks (SIB), like any financial institution."

Eduardo Tabush, president of the Promotion of Insured Mortgages, said that it is projected that " ... in ten years the AVI has granted more than 440 thousand loans for housing and the savers will have access to online information, via an application or in agencies."

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More on this topic

Nicaragua: Mortgage Fund for Homes

March 2018

The union of builders is proposing creating an insured mortgage fund, to provide financing for those who can not meet the requirements demanded by banks.

The Chamber of Developers of Nicaragua (Cadur) announced that the fund could start with an initial seed capital of $5 million. The objective of the fund is to finance the purchase of new homes, and to facilitate access to financing for workers in the informal sector or clients that receive remittances from abroad. 

Nicaragua: More Flexibility for the Housing Market

July 2017

The construction sector proposes extending the conditions of social housing loans to a larger segment of the population, in order to promote the sale of houses with prices of between $30 thousand and $50 thousand.

The association of developers is proposing that the interest rate benefit of 2.5% and the exemption from the registration costs that are currently granted to those who purchase social housing worth up to $23 thousand, be extended to more expensive homes, worth up to $50 thousand. 

Regional Forum on Housing and Construction

July 2016

Financing for housing and sustainable urban development will be the topics under discussion at the event to be held on August 22 and 23 in Managua.

The Chamber of Builders in Nicaragua and the Inter-American Housing Union are organizing the event, which will bring together professional financial real estate companies, developers and builders, banks and finance companies, savings and loans companies for housing, cooperatives, investors, and representatives of public entities.

Nicaragua: Developers propose a Mortgage Fund to the Government

August 2008

The Chamber of Nicaraguan Housing Developers (Cadur) proposed to the Government and to the Association of Private Banks, the creation of an Insured Mortgage Fund.

Said Fund will help to provide legal security to the banks and create an increase in housing projects.
The proposals from Cadur include increasing the payment terms for housing to 40 years, as well as lowering current interest rates and leaving them at 5 or 6%...and to set the purchase premium at 5% of the value of the house. This way the low-income housing should not cost more than $25 thousand.

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