In Peru, the financial market has innovated in its different options for granting mortgage loans, adapting to the requirements and payment conditions of people interested in buying housing.
At this time, Peru mortgage loans are experiencing an expansion stage, so new financial instruments have been made available to the large number of clients seeking the best mortgage options.
The mortgage loan that is traditionally granted
Also, the mortgage loan that is traditionally granted to acquire housing or land, which also works as a guarantee of payment with the establishment of a mortgage , continues to constitute a large percentage of the loans.
Loans to buy a house in Peru have the novelty of presenting different interest rates, such as the traditional use of a fixed or variable or mixed rate. In the same way, the possibility of canceling in soles or in foreign currency like the US, is possible in many banking organizations.
Shared mortgage loans allow a group of family members or individuals, according to the institution where they are processed, to acquire a peculiar debt, since the income of the applicants who will share the asset are added at the time of the evaluation of the payment capacity of the same and can lower mortgage fee.
These types of debts allow them to become co-owners or assign the property relationship they want. When the credits are approved for family groups, they have the option of deciding who is responsible for the debt. They usually have several denominations according to the financial entity, among which are duplex, family or free credit; among others.
My mortgage loan
An option that is gaining the preference in Peru mortgage loan applications are those granted to build housing with low interest rates, thanks to the fact that in the country housing programs have been promoted with business and government support.
In that sense, the expansion, remodeling and construction of single-family homes has been activated in some way with programs such as construction, own roof and own housing, depending on the financial institution there are variants and particularities that benefit the applicants.