Credits & Mortgages

How to buy a place

When buying property, you might think of getting a mortgage. In Argentina, mortgages became very difficult to obtain since the crisis. It furthermore became common use to pay for property in cash!

Credits & Mortgages

However, little by little doors have been opening and mortgages and transfer payments are getting back in use. For the average Argentinean at this moment getting a mortgage is hard. The minimum net income required is around AR$ 1500 /month. A further requirement is that you may not be older than 75 years on the estimate date of complete payback. Foreign nationals have must spend at least one year working legally in Argentina in order to get a mortgage. Of course, you may be able to get a loan in your home country, but securing this solely on an Argentinean property will be difficult.

Mortgages are offered on buying new estate, used estate, renovating or expanding estate or building own housing. For new estate financing is offered up till 80% of the value as long as it does not exceed AR$ 250,000. For used estate the financing maximum is 75% of total value without exceeding AR$ 250,000. Renovation and expansion of estate can be financed up to 100% without exceeding AR$ 50,000. Mortgages to finish construction are given when at least 65% of the total construction is already finished.

Banks offer mortgages for different terms, different interest percentages and demand different requirements. However, mortgages are offered generally for periods of 5, 8, 10, 12, 15 and 20 years. Interest is around 7.5 - 11% for loans up to ten years, loans with a duration of more than ten year are subject to approximately 9 - 12%. Interest rates move a lot in Argentina, so this is a very rough guide!

However, little by little doors have been opening and mortgages and transfer payments are getting back in use. For the average Argentinean at this moment getting a mortgage is hard. The minimum net income required is around AR$ 1500 /month. A further requirement is that you may not be older than 75 years on the estimate date of complete payback. Foreign nationals have must spend at least one year working legally in Argentina in order to get a mortgage. Of course, you may be able to get a loan in your home country, but securing this solely on an Argentinean property will be difficult.

Mortgages are offered on buying new estate, used estate, renovating or expanding estate or building own housing. For new estate financing is offered up till 80% of the value as long as it does not exceed AR$ 250,000. For used estate the financing maximum is 75% of total value without exceeding AR$ 250,000. Renovation and expansion of estate can be financed up to 100% without exceeding AR$ 50,000. Mortgages to finish construction are given when at least 65% of the total construction is already finished.

Banks offer mortgages for different terms, different interest percentages and demand different requirements. However, mortgages are offered generally for periods of 5, 8, 10, 12, 15 and 20 years. Interest is around 7.5 - 11% for loans up to ten years, loans with a duration of more than ten year are subject to approximately 9 - 12%. Interest rates move a lot in Argentina, so this is a very rough guide!

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