Nicaragua: Developers propose a Mortgage Fund to the Government

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.

Tuesday, August 19, 2008

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.

More on this topic

Nicaragua: More Financing for Social Housing

September 2017

Through a trust belonging to the Nicaraguan Institute of Housing $31 million will be available to finance the purchase of social interest housing, with a fixed interest rate of 7.5%.

Like the construction sector, banks have started backing financing of social interest housing. In the first half of the year, loans granted for the purchase of this type of housing registered an increase of almost 17%, according to reports from the association of developers.

Builders Wary of Interest Rate Hike

September 2012

In light of rumors over possible changes to mortgage conditions, Nicaraguan real estate developers are asking the country's banks not to go through with them because they would affect the sector’s growth.

Alberto Atha, president of the Chamber of Builders of Nicaragua (Cadur), said that a rumor is spreading that some banks will increase interest rates on mortgage loans by between one and two percentage points and the premium could be increased by 15 %. "We are convinced that such a move would affect and stagnate the growth process that the industry is experiencing." ... although the changes are not yet official, they are holding talks with banks asking for these measures not to be applied in the immediate future. "

Mortgage Credit Growing in Nicaragua

March 2012

The National Housing Plan is paying off, and the Chamber of Developers and the government is working to make banks more flexible with credit for urban social interest projects.

Employers and the government are moving towards common positions regarding measures that could ease mortgage lending for low-income families (less than $521 per month) and the construction of affordable housing.

Nicaraguan banks to increase interest rate for housing.

August 2008

Banks will raise the interest rate for housing loans by one point. Currently the rates are at 9.5% (fixed rate) and 10.5% (variable rate).

The President of the Chamber of Urban Developers of Nicaragua, Alfonso Silva, said that the country's interest rates for housing is the highest in the region, not to mention having the lowest financing offers.

 close (x)

Receive more news about Banking

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones

Financian software for investment portfolios, mutual and pension funds

Colombian company with more than 30 years in the market develops technological solutions that allow to manage in an integrated and timely way investment portfolios.
Solutions to manage investment portfolios, investment...

Stock Indexes

(Apr 6)
Dow Jones
S&P 500


(Jun 19)
Brent Crude Oil
Coffee "C"