Procrear will open this Friday, September 11, the registration of two new lines of mortgage loans for up to $3.5 million. This is the Construction segment, which will award 30,000 credits of up to $3.5 million and allows to finance works up to 60m2, and the Expansion line plans to grant 2,000 credits of up to $1.5 million for works up to 30m2.
Once the opening of the microcredit, Refaction, and Gas Improvement personal credit lines has begun, the National Government now opens the registrations for the Expansion and Construction mortgage loans. The procedure to access is done from the program’s website. The appropriations may be intended only for the construction, extension and completion of the permanently occupied family home of the person who registers. In the case of the Procrear Extension line, the maximum permitted work must not exceed 30 square meters and the house with the included extension may not have an area greater than 90 square meters covered. It is understood by extension to the works that are carried out in a living house that require a project aimed at increasing the area of the same, trying to optimize its condition. The credit amount for the Expansion line is up to $1,500,000, with a term of 180 months and with a fixed rate with adjustable capital in relation to the evolution of wages (Wage Evolution Coefficient published by INDEC), according to the new coefficient Hog.Ar.
For its part, the Construction line includes credits that finance the completion of works and the construction of up to 60m2. It is taken as a termination, cases in which the advance of pre-existing work does not exceed 70% of the approved work plane and will be considered a construction destination to any building work without pre-existing progress. In this case, the property to be built must in itself constitute an independent functional unit, i.e. at least one single-environment, with bathroom, kitchen and independent entrance. The construction line credits range up to $3,500,000, have a term of up to 360 months and also have a fixed rate with adjustable capital in relation to the evolution of wages, with the new coefficient Hog.Ar.Some of the general requirements to be taken into account at the time of registration are: being Argentinian, or by option, or foreigner with permanent residence, have a valid National Identity Document, the registered household must have income from formal work, retirements and/or pensions and the sum of these income on a net monthly basis must be in the range of two (2) and eight (8) SMVyM at the time of registration.
Enrollees must also be between eighteen (18) and sixty-four (64) years of age. The Procrear program has a total of nine lines of credit between mortgage loans and personal loans. Mortgage loans, in addition to the Construction and Expansion lines, include Those of Urban Developments, Housing Developments and Lots with Servicios.La estimated date for the next Procrear draw is September 30, where families will be able to access the formation of the personal credits of the Refaction and Microcredit lines. In the coming days, the registration and sweepstakes cut-off dates for mortgage credit lines will be reported.
