Ospinas
Methods to buy your home

Ospinas tells you about financing methods which can be used when you decide to buy a home.

When you make the decision to buy a home, there can be many questions. From the budget, to location, many aspects must be reviewed but, do you know how you can finance your new home?

1. Mortgage loans. This method is one of the most popular, because in most cases in Colombia, you can finance up to 70% of the property value and you can have from 5 to 15 years to pay de debt.

Two things about this method is that it´s necessary to have a down payment of 30% of the real estate value, and most banks require that whoever takes ther credit must also take an insurance policy.

2. The residential leasing. Its main difference from the mortgage loan is that the concept is base don “assuming a rent”, so fot the duration of the funding period, the real estate remains in the name of the bank and, in the end, the buyer is given the option to purchase the property.

The main benefit of this method is tax related because the value of the property is not listed in the tax returns of the person and is also exempt from taxation. Leasing contracts can be transferred at any time, so the person avoid paying any additional costs.

Métodos para comprar vivienda propia

 

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