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Mortgage credit

Green Mortgage Loans: Requirements & Benefits from BCI

by Priya Shah – Business Editor August 3, 2025

written by Priya Shah – Business Editor

BCI Launches “Green Mortgage” with Rates as Low as 3.72% to Boost sustainable Homeownership in Chile

Santiago, Chile – July 26, 2024 – Banco BCI has unveiled a new “green mortgage” program offering preferential interest rates to individuals and companies purchasing properties that meet specific energy efficiency standards, a move aimed at promoting sustainable homeownership and reducing environmental impact. The initiative comes as securing a traditional mortgage has become increasingly challenging due to rising interest rates and stricter income requirements across Chile.

The launch of the green mortgage aligns with a growing global trend toward sustainable finance and reflects Banco BCI’s commitment to environmental, social, and governance (ESG) principles. This program offers a timely solution for prospective homeowners navigating a competitive real estate market.

Eligibility Requirements for Preferential Rates

The “green mortgage” is available to both individuals and companies acquiring properties that demonstrate a commitment to energy efficiency. Qualifying properties must meet a set of criteria designed to minimize environmental impact and maximize resource utilization. These requirements include:

Electric Power Certification: Properties must possess valid electric power certification demonstrating energy performance.
Thermal Insulation: Improved thermal insulation is a key requirement, reducing energy loss and lowering heating/cooling costs.
Ventilation Systems: Properties should feature natural ventilation systems or efficient mechanical ventilation to improve air quality and reduce energy consumption.
Low energy Consumption: Overall energy consumption must be demonstrably low, indicating efficient building design and appliance usage.
Water Efficiency Technologies: The presence of technologies promoting efficient water use, such as low-flow fixtures and rainwater harvesting systems, is essential.

Real estate projects already holding energy certifications, such as those compliant with the Chilean Energy Efficiency Labeling System, are eligible for additional benefits under the green mortgage program. While individual credit profiles are evaluated on a case-by-case basis, this financing option typically results in reduced interest rates and lower operational expenses.

Banco BCI’s green mortgage can be combined with the Chilean government’s new mortgage credit subsidy, a joint initiative by the Ministries of Finance and Housing. This subsidy provides preferential rates for the purchase of new homes valued at 4,000 UF (Unidad de Fomento) or less – approximately $160,000 USD as of July 26, 2024.

During July 2024, BCI is offering a rate of 3.72% through this combined program, a level not seen in four years, according to bank officials. This rate is available for loans disbursed before July 31, 2024.

Ready to make a sustainable investment in your future? Share this article with friends and family considering homeownership, leave a comment below with your thoughts on green financing, or subscribe to world-today-news.com for the latest updates on Chilean economic news and sustainable living!

August 3, 2025 0 comments

Business

In Mexico, mortgage credit is French style

by Chief editor of world-today-news.com August 1, 2024

written by Chief editor of world-today-news.com

In Mexico there is a wide range of credit to buy a home, so much so that more than 80 types of mortgage credit are registered in financial institutions.

This range of possibilities, where each option has its own characteristics, terms and conditions, makes the choice of financing to buy a house or apartment much more complex.

With this situation, in + Money from Mexico Forbes We interviewed Juan Kasuga, director of Creditaria México to learn more about how mortgage credit works in our country and how we know that we are choosing well among the wide offer on the market.

Did you miss out?: 8 differences between Infonavit mortgage credit versus bank credit

“In Mexico the French credit amortization scheme is used, unlike other systems, first you start collecting interest and at the end you start paying the capital; The behavior of the payment curve is that at the beginning about 95% of your monthly payment is applied to interest and only 5% is applied to principal. Over time that portion changes and is returned to the same level because in the first years you paid most of the cost of the money for the loan they already gave you,” said the manager.

In his opinion, it is important to be clear about how a mortgage loan is integrated in our country to know what criteria to evaluate when you choose.

When someone takes out a mortgage loan, the monthly payment they have to pay is made up of various factors:

The interest involved in the monthly payment
Capital amortization, which is part of the payment that will be applied to the debt
Credit linked insurance (mostly life, casualty and unemployment)
The credit administration and appraisal fees charged by some banking institutions.

Be careful here!: How to choose the best mortgage loan and pay it off in a shorter time

“The amortization of the cost of money comes from the interest rate and it is the information that is advertised in many banks, that is what people see and they often believe that this is the cost of a mortgage loan . That’s an important element, but not necessarily the one that determines which credit is best for you.

“These concepts above lead you to the total annual cost (CAT) which forces you to consider these costs as a whole. There are those who ask, if I am paying 10% interest, why when I add all the expenses that are not capital amortization I am paying 127 thousand pesos? That’s because those extra 27 thousand are other costs you have to pay, because they are inherent benefits of the mortgage loan,” explained Kasuga.

We recommend that you read: These are 3 key points before applying for a mortgage loan

A cheap mortgage loan is not always convenient

Instead of looking for the cheapest mortgage loan, it is recommended that you look for the one that suits you best financially.

“There are banks that multiply capital faster. It is essential to identify the banks that do this; It might be a good idea for you to take out that credit, especially if you want to pay it off faster. Let’s say that in a bank that doesn’t change much, maybe in year six of a loan for a million pesos, you need 720 thousand pesos, and in another bank that has more amortization, you might need 650 thousand pesos. There you already have a difference of 70 thousand pesos that you probably did not notice because you did not review the amount that each of the financial institutions had amortized month after month,” says Kasuga .

The good news is that to do this research on the entire shelf of commercial banking options in Mexico you don’t have to go from branch to branch, today you can request the services of a mortgage broker who, in addition to being supporting you with professional advice. , he will not charge one cent for it.

This comparison that is so sure for your finances the day you go to buy a house will not cost you any money, because the banks pay them a commission for each loan that is signed with them.

Learn more here: 6 things a mortgage broker can save you when buying a home and how much they cost you

Do you already have us on Facebook? Give us a like and get the best information

2024-08-01 02:02:33
#Mexico #mortgage #credit #French #style

August 1, 2024 0 comments

Business

Free Mortgage Talk: Expert Advice for Home Buyers – Everything You Need to Know!

by Chief editor of world-today-news.com March 15, 2024

written by Chief editor of world-today-news.com

Are you thinking about buying a home? One of the issues that currently most concerns and occupies home buyers is the mortgage. What do banks offer today? What steps should I follow? or What would interest me? These are recurring questions that DN Inmo will answer this Tuesday March, 19.

He will do it in a free mortgage talk which will take place at 18.00 hours in the Diario de Navarra headquarters at Zapatería Street, 49. It will be presented by Ian Petrina, from the Plusvalue securities agency, who will explain in an hour and a half everything that interests the home buyer.

He content of the talk will be the following:

– Introduction to mortgage credit

– Law regulating mortgage credit contracts

– Current mortgage credit offer

– Steps to hire

– Current bid

– Bonuses

– I already have a mortgage

– Conclusions

2024-03-15 12:29:17
#mortgage #Tuesday #free #talk

March 15, 2024 0 comments

Business

Top Tips for Paying Off Your Mortgage Loan Correctly

by Chief editor of world-today-news.com February 12, 2024

written by Chief editor of world-today-news.com

Having good financial health is essential because from that premise it is possible to plan our entire economy. Within this premise, we are going to explain how you can pay off a mortgage loan correctly.

Let’s begin by expressing that having the desire or ambition to acquire a house is more than fair, since that action is an important achievement in a person’s life.

You may be interested in: What are the worst mistakes you should avoid when applying for a mortgage loan?

It’s also a fact that long-term financial responsibility can end up being overwhelming. Now, in these cases it is preferable to handle everything calmly so that things go in the best way.

How can you pay off a mortgage loan correctly?

It’s a good idea to set aside additional payments on a monthly or annual basis to reduce the principal balance of your mortgage. Consider in turn that by directing these directly to the debt, the total amount of the loan will decrease and thus the time will be shortened.

Later, take advantage of the extra income. At this point you must consider work bonuses, such as bonuses or others that can be implemented to make significant payments to the mortgage with which you committed. With this tactic you will reduce the total debt and speed up the payment process.

And finally, smart refinancing. In this case, it is better to evaluate the possibility of refinancing the mortgage loan to end up having more favorable conditions regarding your interest rate.

You may also be interested in: What is the ‘Equip your house’ credit and what are the requirements to process it?

Now, be very careful because it is always valuable to implement a careful analysis of the costs associated with refinancing and make sure that the long-term benefits end up outweighing the additional expenses involved. Always keep in mind that the Institute of the National Housing Fund for Workers (Infonavit) is the institution that grants 60% of mortgage loans for housing in the country.

2024-02-12 09:31:50
#pay #mortgage #loan #correctly

February 12, 2024 0 comments

Business

Local Development Bank (BDL) Opens 8th Commercial Agency in Sidi Bel Abbes: Specializing in Mortgage Credit and Islamic Financing

by Chief editor of world-today-news.com January 23, 2024

written by Chief editor of world-today-news.com

An 8th commercial agency of the Local Development Bank (BDL) “479”, specializing in mortgage credit, was opened on Sunday in Sidi Bel Abbes under the supervision of the General Director of this banking institution, Youcef Lalmas.

Mr. Lalmas stressed that the opening of this agency, the first of its kind in the wilaya, is part of the expansion of the BDL’s commercial network, particularly regarding mortgage loans, to get as close as possible of customers.

The same official stressed, in a statement to the press, that this commercial agency specializing in gold mortgage loans will be in addition to the conventional and Islamic banking services provided by the other commercial agencies of the Local Development Bank in the wilaya of Sidi Bel Abbes.

Referring to the operating loan, he stressed that the Local Development Bank supports businesses and investors in order to assist and support them, recalling the different types of operating loans granted by the bank, the processing times of the file of the credit, the repayment period and the interest rate.

Regarding Islamic finance, the Director General of the BDL indicated that his banking institution presents products in compliance with the principles of Islamic Sharia, which is totally different from conventional financing, pointing out that among these products, there are “real estate leasing ending with property” for individuals, “Murabaha for vehicles” for individuals and “Murabaha of consumption” for individuals, “Murabaha of investment” for businesses and “Murabaha of operation” for businesses.

He also indicated that the Local Development Bank is working to support the efforts made to generalize the use of electronic payment, since it offers merchants free means of electronic payment, in particular terminals, noting in the same context the products provided by the bank regarding the provision of different types of electronic cards.

APS

2024-01-23 02:07:06
#Sidi #Bel #Abbès #opening #BDL #commercial #agency #specializing #mortgage #credit #Lexpress

January 23, 2024 0 comments

Business

Mortgage Credit Growth in Mexico Predicted to Increase by 5% in 2024: Expert Insights

by Chief editor of world-today-news.com January 17, 2024

written by Chief editor of world-today-news.com

He mortgage credit It will have growth between similar to 2023 and an increase of 5%, according to estimates by different leaders of the banking sector in Mexico.

They expressed their opinion in the Mortgage Outlook Panel 2024 organized by Soc Advisors, one of the largest companies in brokers in Mexicothis is from advisors who help the population manage their credit in different financial institutions.

So, Enrique MargainExecutive Director of Personal Loans of HSBC; Tony Artigues Fiol, Director of Private Credits Santander; Roberto Gandara, Executive Director of Mortgage Credit Banorte y Gonzalo Palafox, director of Mortgage Credit of Citibanamex They stated that the challenges begin with adapting to the environment.

Bank managers are committed to reducing the volatility generated by various factors such as the war environment, in addition to trusting in the control of inflation in Mexico and the final arrival of the reduction in interest rates that, according to what was said by the Governor of the Bank of Mexico (Banxico) we could have a signal starting next March.

Likewise, they stated that this year they are betting on new products not only on co-financing with National Housing Organizations such as Infonavit and Fovissste, but also on the resurgence of mortgages for non-residents, this is for foreigners and also for nationals who do not live in Mexico.

For managers, it is important to promote accessibility to credit and launch new products, but they reiterated their desire to promote sustainability in their processes and also with “green” mortgages.

They also observe opportunities with nearshoring which, they indicated, is beginning to demand housing for their workers who will settle in the country.

BROKERS ALSO BET TO BOOST CREDIT

For its part, Cybel MagañaMortgage Director of Soc Advisors He stated that with the background that in 2023 they managed to place the same amount vs. 2022, he was betting on growth of at least 5% for 2024.

Thus, he agreed that banks in general reduced their distribution of credits by 15% in number and 5% in amount.

“We did not have the drop that there was in the market and the growth of the last 5 years of 96%, so we knew that 2023 was a year of consolidation. And now we do have a growth goal and we plan to do so by 5%.”

Thus, he said that given the environment with the electoral process, they foresee a recurrence of liquidity credits.

“We hope that Banxico can exit in March as the Governor announced with a reduction in interest rates; This would bring us to the market of people who see the monthly payment very tight. Thus, every 100 basis points would reduce the monthly payment by $300 to $400 pesos. “That can help those who today lose their profile due to the monthly payment amounts,” she said.

The board agreed that some of the products that will be most requested in 2024 are liquidity credit, as well as credit portability.

And he mentioned that mortgaging property in Mexico is already being put into practice to be able to buy abroad and aspire to residency in another country.

2024-01-16 23:57:32
#Moderate #mortgage #growth #outlook

January 17, 2024 0 comments

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