Best Rates for Homes in Guatemala

In recent months the interest rates for new home purchases have declined from an average of 13.02% to 12.23%.

Thursday, August 9, 2012

Banking institutions have added new options to their loan portfolios, such as funding for improvements and to buy a used house.

"Oscar Sequeira, coordinator of Statistics at the Construction Chamber of Guatemala (CGC), said that interest rates are down worldwide due to policies pursued by central banks and that has had an impact on reducing the level of fees charged for housing finance", reported Elperiodico.com.gt.

Giovanno Contreras, manager of Grupo Financiero ViviBanco, said the demand for mortgage loans recorded by the banking system has increased.

More on this topic

Housing Credit Down 55% In El Salvador

September 2013

Up to June banks had only provided financing for housing projects worth $14.36 million, while in the same period last year it had already reached $32 million.  

"The new housing projects can be counted on the fingers of one hand," said the executive director of the Salvadoran Chamber of Construction Industry (Casalco), Ismael Nolasco, adding that the drop is a reflection of an industry that is not investing in large housing projects because it has seen any demand.

Credit for Homes in Costa Rica Decreases

January 2012

The four state-owned banks intend to lend $682 million in housing in 2012, 20% less than last year.

Publicly owned banks (National, Costa Rica, Bancrédito and Popular) have set a goal of granting ¢351,000 million ($682 million) in housing loans during the course of 2012, reported Nacion.com.

No Mortgage Recovery in Guatemala

February 2011

Loans to the construction sector in 2010 reported a 0.4% drop compared to 2009.

At the end of 2009 the banking sector loaned $ 816 million while in 2010 the figure was $ 813 million.

Likewise, defaults on housing loans increased by 1.4%.

"This was the only sector which reported a drop in the loan portfolio, which, in general, went up 5.6%," reported Sigloxxi.com.

Increased Availability for Home Loans in Costa Rica

March 2011

Despite contraction in the construction sector, banks and other lenders are increasing their offers.

The bank´s credit portfolio is the largest offered over the last three years as reported by the Costa Rican Banking Association.

"In Expoconstrucción, which begins next Sunday at Pedregal (San Antonio de Belén), banks will try to hook new customers with fixed rate programs, remission of fees and payment terms of up to 30 years" informed Nacion.com, “Nine financial institutions will be present at the fair ...".

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