Right now, Panama’s mortgage market is very favorable to consumers. 29 banks are offering preferential interest rates, up to 98% 30 year financing, waiving commissions and free appraisals.
A new real estate wave is bringing the market back to life, although without the same strength in all areas. The neighborhoods of San Francisco and Bellavista are currently seeing the most growth in construction.
The financial system, set against a surplus of $1.5 million in liquidity, offers better credit conditions.
Expediency in the approval process, lower interest rates, and extended payments terms are some of the incentives they are offering.
La Prensa publishes in its web portal: "As an additional service, applicants have the option to consolidate all their financial obligations into a single account."
Legislation in El Salvador proposes preferential interest rates for the purchase of new housing with costs between $15,000 and $60,000.
The Salvadorian Chamber for the Construction Industry (Casalco) presented to the Legislative Assembly a government bill that would encourage low-income families to purchase new housing in the range of $15,000 to $60,000.
Costa Rican mutuals will now be able to offer housing credits for 30-year terms, double what the law previously permitted.
As soon as the Law of the National Financial System for Housing reform is officially published, the two mutuals that operate in Costa Rica—the Alajuela Housing Mutual Group and Mutual Cartago (Mucap)—will be able to offer mortgages with 30-year terms. This reform was already approved by the Legislative Assembly.
The private sector and the state will earmark $79.43 million for loans for housing construction in response to the economic crisis.
Enrique Briceño, former Housing Minister and representative for the Honduran Construction Industry Chamber told El Heraldo: "The solution to this crisis has begun in the housing sector and infrastructure investment. More than 1.5 billion Lempiras are reaching the poorest population at an interest rate of 9 to 10%." .
The campaign is focused on pre-approval of housing loans in 20 minutes through the BANHPROVI (Honduran Production and Housing Bank) credit line, with an interest rate of 10% during a period of up to 20 years.
Digital Process published on its website: "It was explained that customers interested in these loans can go to any Ficohsa agency at a national level with a copy of their ID card, proof of income with detailed deductions and a credit application. The customer will have an answer in 20 minutes upon presenting the documentation. "
Banco de Costa Rica (BCR) has earmarked $176.9 million (¢100,000 million) in loans for housing in 2009.
The reporter, Mercedes Agüero, wrote in Nacion.com: "This amount will allow 6,000 families to build or buy a home. The interest rate for these loans is the equivalent of the base rate plus 3 points."
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. 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.