YOUNG HOMEOWNER, YOUR OPPORTUNITY TO OWN A HOME HAS ARRIVED

We are convinced that the dream of owning a home is one of the most beautiful goals to achieve and is perhaps a purpose shared by much of humanity. Achieving this dream requires effort, perseverance, and discipline, as it involves days, months, and even years of saving and taking out loans to purchase an apartment for sale in Medellín. This is where the dreams of an individual, a couple, or a family are placed.

For this reason, we believe it is important to share this good news with you. On this occasion, we will talk about the opportunity the government is offering to help people acquire their own home.

On May 18, the President of the Republic, Iván Duque, introduced the Young Homeowners Program, which aims to benefit people between 18 and 28 years old by providing access to VIS (Social Interest Housing). This program promises the lowest interest rate in Colombia’s history for purchasing a home. In addition, it allows financing of up to 90% of the property’s value, and the Government will act as a guarantor during the first seven years for young people earning less than two minimum monthly wages.

Currently, the National Savings Fund (Fondo Nacional del Ahorro) offers a preferential interest rate of 6.8%. So far, it is the only institution providing this benefit; however, more financial institutions are expected to join soon and expand the offer.

The properties available under this program are VIS housing, which must be valued between 135 and 150 SMMLV (legal monthly minimum wages), depending on the property’s location.

This type of housing has seen significant growth in development and construction. Between 2011 and 2020, two million homes were built, of which 56.3% were Non-VIS, 34.6% VIS, and 9.1% VIP. For this year, growth of 4.5% in construction and 2% in real estate activities is expected, providing greater availability of apartments for sale in Medellín.

Requirements to Access This Benefit

Accessing this benefit is very simple. You must meet the following requirements:

• Be between 18 and 28 years old
• Have income not exceeding 4 SMMLV
• Not own a home
• Not have previously received a housing subsidy from the National Government
• To access the 100% subsidized guarantee, your income must be below 2 SMMLV

It is important to note that you do not need to fill out online forms with your personal data to apply. You only need to visit an office of the National Savings Fund to receive more information.