If you have some money saved, but you do not qualify for a mortgage with a financial institution, the Chilean State offers you the possibility of accessing your own home through the subsidy to buy a home without credit, for emerging groups.
Learn about the most important aspects below
What is it? It is a direct aid from the government for the purchase (or construction) of a cheap house or apartment, whether new or used and located in the city or in the country. It is designed for family groups that, although they have some savings capacity, cannot obtain a mortgage. This subsidy is popularly known as Title Zero.
What do they demand of you?
First, you must be over 18 years of age and have minimum funds of at least 30 development units (UF), deposited in a savings account for housing. Additionally, you must have a social protection sheet with a maximum score of 11,734 points. Lastly, you should not have an income higher than the fixed one, which, depending on the region and the size of the family, varies between 25 and 46 UF.
Documents to present as any procedure, you must accompany a series of requests, such as the identity card (and the certificate of permanent residence if you are a foreigner), the declaration of family nucleus and that you do not have a property and a certification from a financial institution where your savings are recorded.
How much is the subsidy?
Keep in mind that the maximum price of housing cannot exceed 800 UF, and the maximum subsidy in most regions of the country is 500 UF, which extends to 600 in Chiloé and 700 in Aysén and Magallanes.
How can you register?
You must be aware of the periodic calls made by the Ministry of Housing and Urban Planning, which you can also consult on its website. You can make the applications personally before the SERVIU and its delegations or even through the internet, provided you have a unique password obtained from the Civil Registry and Identification Service. As you can see, obtaining this subsidy is not so complicated if you meet the aforementioned requirements.
Now, keep in mind that every day it is easier to access a Mortgage Credit, so you should always consider it as your first option to obtain financing, since it requires fewer requirements and is quicker to obtain. The important thing to have a good Mortgage Credit is to simulate the offers available in the market. In this way, you can make a projection of the installments, interest and operational expenses of the loan. This is called making a smart purchase of your Financing!