30 Year Mortgages In Argentina? Yes!

rickulivi

Registered
For those of you that want to buy in Argentina, but don't have the cash, I recommend you look into these new 30 year mortgages being offered by the Banco Nación, Ciudad, Provincia and maybe a few of the private banks. They are a super good deal. Of course, you get far better loan terms in the USA but you are in Argentina, where a 30 year loan has been impossible for a long, long time.

Of course, the pessimists in this forum will overlook this incredible opportunity. But those folks wouldn't recognize a good deal if one were staring at them!

A few months ago the Banco Nación was offering a very attractive loan, with a low fixed rate plus a variable rate tied to the increases in average salaries. They were a fabulous opportunity for anyone working for the government or a strong union, but the president of the bank was kicked out, so I think they de-emphasized that type of loan. The new loans have a fixed rate plus an UVA component, which is tied to a construction index, I believe. Not as good as the former one, in my opinion, but the only one's available now.

If you want a place of your own, and can't move to the US, run to the Banco Nación. Don't miss out on this incredible opportunity. And if you own a place now, enjoy watching how prices are going to go up due to all the demand caused by these new 30 year mortgages.
 

syngirl

Registered
Ok but remember, you need a DNI, one year of salary receipts, and you cannot be close to retirement - ie they will not give this plan to a 55 year old. The rates are apparently higher based on your age because they don't want you retiring with a big chunk of mortgage left. And if you are within 10 years of retiring, forget about it, you cannot get approved.

As with most of the mortgage roll outs here, I wouldn't hold my breath. We have never qualified because our earnings are too high. Yes, too high. So now we have bought land, and these mortgages are not for building unless the land already has an escritura. So, it is great that they are being offered but they come with a lot of caveats, so as with anything in Argentina, I wouldn't be celebrating quite yet.

EDIT: And forget about it if you are a monotributista....
 
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