With the aim of supporting families in obtaining a mortgage loan to purchase their first home and reactivating the real estate sector, the regional government minister of Ñuble, Valentina Pradenas, called for information on the updates to the State Guarantee Fund (Fogaes) 2024.

This is an initiative that is part of the economic security measures that seek to provide access to financing to sectors that may be facing some type of complexity in this area.

In this regard, the spokesperson stated that “specifically, this Fogaes is a state guarantee fund, that is, it allows the State to act as guarantor to access a mortgage loan with up to 90% financing. Therefore, the call is to all those who are interested in acquiring their first home to review the requirements to access this benefit made available by the Government of President Boric, since it is a great support to reduce the cost of coverage granted by a financial institution.”

The Fogaes program for accessing the first home establishes that financial institutions can provide between 80% and 90% of the value of the house with the same parameter used for 80% of the value.

As for the requirements, it must be taken into account that the home cannot exceed 4,500 UF, the person must be a natural person, they cannot be the owner of a property for residential purposes, the loan must only be for their first home and they must not appear in the National Registry of Child Support Debtors.