These are the changes that the Mi Casa Ya subsidy program will have | housing | my finances

These are the changes that the Mi Casa Ya subsidy program will have |  housing |  my finances

The Minister of Housing, City and Territory, Catalina Velasco, announced the adjustments that will be made to the subsidy program My House Already (MCY)an initiative that has been in operation since 2015 and that this government will maintain.

(Home sales in the country plummeted 50% during January).

According to the official, the changes will allow aid to reach all municipalities, benefiting those who need it most and seeking a more efficient predestination.

“The adjustments that were made to MCY respond to a diagnosis developed for the program, to the conclusions of the binding regional dialogues and to the joint work between the Government, the communities, the construction companies, the compensation funds and the financing entities”explained the minister, who added that “Our goal is that the subsidies benefit the poorest and most vulnerable households and that they reach all the municipalities of the country.”

(This Monday the disbursements of the Mi Casa Ya program begin).

The program will be aimed at Colombians interested in acquiring new urban and rural housing in the national territory, who have not been beneficiaries of a housing subsidy or interest rate coverage on other occasions or who are owners in the National territory . In addition, the interested household must be registered in the Identification System of Potential Beneficiaries of Social Programs (Sisbén IV), and have a classification equal to or less than D11 for urban households and D20 for rural households.

To access the program, you must search the real estate market for the social interest or priority housing of your choice and in the project that most attracts your attention. Once you make the purchase decision, you can approach the financial or solidarity economy institution of your choice, or the family compensation fund, where you can process the mortgage loan or housing leasing covered by the measure.

This is how the benefit is represented

Mi Casa Ya provides two benefits to households: first, The program grants a subsidy for the initial fee for an amount that arose from the Sisbén group in which the interested household is classified.

In urban areas, households in Sisbén classified between groups A1 and C7 will receive a subsidy of 30 current legal monthly minimum wages (SMMLV) for the payment of their initial installment. For their part, households with a Sisbén classification between C8 and D11 will have a subsidy of 20 SMMLV.

In rural areas, households with Sisben between A1 and C14 will receive a subsidy of 30 SMMLV, while those with a classification between C15 and D20 will have access to a subsidy of 20 SMMLV.

(VIS projects increase in high-income neighborhoods in Bogotá).

In addition, MCY will benefit households with coverage at the interest rate of the mortgage loan or housing lease, which will be granted during the first 7 years of the mortgage loan or housing lease, reducing the monthly installments that must be paid. Its amount came from the type of housing purchased.

Thus, when households acquire a priority interest home (VIP), the coverage will be 5 percentage points (pp) over the interest rate agreed with the financial institution, while, for those households that purchase a home of interest (VIS), with a price greater than 90 SMMLV, the coverage at the rate will represent a reduction of 4 percentage points.

How will beneficiary households be prioritized?

The subsidies will be granted to the beneficiaries according to availability, the prioritization score and according to the order of arrival, but taking into account a special prioritization for the population with special conditions of vulnerability and those located in rural areas and small municipalities. . In addition, every household interested in the program will be assigned a score, which will range from 0 to 100, depending on its characteristics and the location of the housing project it wishes to acquire.

BRIEFCASE

By Jacob Wilson

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