What does Decree 583 of 2025 mean for those who want to buy a home?
Buying a home continues to be one of the main goals for many families in Colombia. In response to this need, the National Government has introduced new measures that seek to facilitate home purchases. Decree 583 of May 28, 2025, marks a turning point for those who wish to purchase new or used homes, especially for moderate-income families who previously faced barriers in the financial system. Today, thanks to this update, more Colombians can access higher credit amounts, with greater flexibility and better alternatives. Here we explain what Decree 583 of 2025 means for those who want to buy a home.
What do the new limits in Decree 583 of 2025 mean?
Under the new regulatory framework, Colombian families can allocate up to 40% of their monthly income to the first installment of a mortgage. This measure applies if the applicants are related (up to second degree of consanguinity, first degree of affinity, or civil union), or if they are spouses or permanent partners. This allows them to combine their incomes and access a higher amount of financing, which represents a great opportunity for those looking for an apartment for sale in Medellín and want to finance it more easily.
As for the value of the loan, it can cover up to 70% of the property's value, based on its market price or an appraisal no more than six months old. For social housing (VIS), the percentage that can be financed can reach up to 80%, further expanding the purchase possibilities for many households.
