The program of the Ministry of Housing, Territorial Planning and Environment (MVOTMA) has a program that allows access to a loan of up to 90% of the value of the home, also adding help to pay the monthly payments in what it is called "Subsidy to the quota" of housing.
Which ones will receive the aids mentioned in the previous paragraph?
Those that have been built under the protection of Law No. 18,795 and comply with its regulations will be available. The target audience are: single people, families, and couples with or without minors in charge.
Requirements for access
According to the MVOTMA website, interested parties must 1) Be between 18 and 55 years of age at the time of granting the mortgage loan. In case of being minor, be qualified by marriage. 2) The requested income will vary with each call. 3) Have a minimum saving corresponding to a percentage of the value of the home (this varies according to each project). 4) Not be the owner or promising buyer of a property, not be the owner of rights to use and enjoy housing financed by the State, nor be an effective recipient of a housing solution that is subsidized by the State.
In the case of public and private employees: they must have at least 6 months of seniority in current employment. If you are a private employee, you must also have a work continuity of at least twenty-four months. The same could be achieved with the sum of different jobs, as long as these are successive (there are no interruptions greater than 60 days).
In the case of independent professionals and other verifiable income: the required seniority will be twenty-four months and thirty-six months respectively.
On the other hand, they must meet the following requirements: 5) Do not record unfulfilled operations in the Clearing of reports, or more than three records of debts canceled with arrears. 6) Receive approval as a credit subject by Banco Hipotecario del Uruguay (BHU). 7) Have the "acceptable" rating of the Central Bank of Uruguay (BCU), the Commercial Defense League (Lideco) and the Negative Database (BDN). 8) Do not register registrations of attachments, claims or breach of alimony. 9) At least one of the holders must be a Uruguayan citizen.
A) You must have the identity card of the holder / s. B) Add a photocopy of the identity card of the family members (although they will not be owners of the home). C) The payroll of labor history issued by the Social Security Bank of all the members of the nucleus, over 18 years of age. D) Dependent workers must submit the original and a photocopy of the receipts of the last three months of salary. Independent workers must make an affidavit containing 12 months of monthly income certified by a public accountant. E) State of account of some member of the family, photocopy and original certifying the previous savings (issued by the bank or institution supported by the Central Bank). Likewise, the Mvotma may request information expansion when it deems necessary.
Steps to follow
– You must register at the offices of the Ministry (Mvotma) in the department where the house is to apply. For this it is necessary to request an agenda in advance through the number 0800 46427.
– Among the registrants who meet the minimum requirements of the call, the Ministry will make a public drawing establishing an order of priority.
– The Ministry will convene in that order of priority those who are drawn to select their home among those available, until all the homes to be delivered are assigned.
You can also consult the Presentation of Promoted Homes with the latest update to January 2019 in the following link: click here
Other interesting information offered by the Ministry of Housing website is a table that summarizes the requirements for access, as well as the Frequently Asked Question: "Where do I apply for the loan and how does it work?"
You can find the following answer: "Once the term of the call for the purchase of promoted housing has been completed, the Mvotma will determine the order of priority of the applicants for the choice of the house through a public drawing. All the documentation of the interested party will be presented before the BHU, to be analyzed as subject of mortgage credit ".
Material generated from the information of the Ministry of Housing, Territorial Planning and the Environment site: click here