El Salvador: $103 million in Credit for House Purchases

A FSV press release states:

The Social Housing Fund has significantly exceeded the lending figures in 2011 compared with the previous year, it is estimated that the increase will be about 14.5% in number and 8% in value compared to 2010.

According to President and CEO of FSV, Francisco Guevara, "the results in the granting of loans for this year are very satisfactory, it is projected that we will close 2011 with the placement of 6.210 credits for about $91.5 million, which will benefit about 24.900 Salvadorans who now have a housing solution. "

More on this topic

Housing credit drops 23% in El Salvador

January 2009

From January to November 2008 13,780 loans were granted, compared to 17,938 in 2007.

The Salvadoran Chamber of the Construction Industry (Casalco) said in their report, according to elsalvador.com: "The number of loans for home construction decreases 45.6%, since in 2008 only 189 home loans were granted compared to 2,187 in 2007.

Salvadoran mortgage portfolio surpasses $2 billion

August 2008

The banking system has a mortgage portfolio that surpassed $2 billion, according to a study presented by the Multi-sector Investment Bank.

The Social Housing Fund (FSV) mortgage portfolio, valued at $878.1 million in July of this year and which corresponds to 121,075 credits for new and used houses, should also be added to the total figure.

Home Loan Conditions More Flexible

June 2009

In El Salvador, clients of the Social Home Fund (FSV) have more buying power as they become exempt from some requirements.

One the requirements that changed was the elimination of the credit authorization agreement for those who can provide a minimum of 30% as a down payment.

Credit for Homes in Costa Rica Decreases

January 2012

The four state-owned banks intend to lend $682 million in housing in 2012, 20% less than last year.

Publicly owned banks (National, Costa Rica, Bancrédito and Popular) have set a goal of granting ¢351,000 million ($682 million) in housing loans during the course of 2012, reported Nacion.com.