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The Fondo Social para la Vivienda (FSV) is set to have US$103.7 million available to finance home-purchase loans, following the Central American Bank for Economic Integration’s (CABEI) approval of a US$50 million increase to an existing credit line. The matter was addressed by the Legislative Assembly’s Finance Committee, which issued a favorable opinion to ratify an amendment to the state sovereign guarantee agreement that underpins the operation.
Delia Reyes, deputy director general of Public Investment and Credit at the Ministry of Finance, explained to the lawmakers that on october 19, CABEI approved increasing the loan amount from US$53.7 million to US$103.7 million. These resources are intended to bolster housing finance and expand opportunities for Salvadoran families to acquire a home.
To formalize this increase, the state sovereign guarantee agreement granted to the FSV must be amended. This mechanism serves as a public financial backstop, ensuring that loan payment obligations are met and allowing the credit operation to continue.
Reyes highlighted that increasing these resources would help improve families’ quality of life and reduce the housing deficit by strengthening social housing programs. According to the projections presented, the FSV expects to grant approximately 1,250 loans, half of which are earmarked for women, benefiting an estimated 3,875 people.
The funds will support the continuation of five housing programs tailored to different segments of the population. One of these is the Vivienda Nueva program, which offers financing for home purchases with repayment terms of up to 30 years for formal-sector workers, and up to 25 years for individuals with variable income.
Another option is “Casa Joven” aimed at individuals between the ages of 18 and 35 who are interested in purchasing new or existing homes. The program offers financing terms of up to 30 years and loans of up to US$100,000, with the goal of making it easier for young people to access homeownership.
The FSV also offers “Vivienda Cercana” which provides credit to salvadorans living abroad, as well as to individuals within the country who receive income from overseas. This program includes repayment terms of up to 25 years. Meanwhile, “Casa Mujer” is designed for women between the ages of 26 and 50, including heads of households, single women, widows, or those in vulnerable situations to purchase new or existing homes with terms of up to 30 years.
A fifth program, “Vivienda en Altura” allows for the financing of new or existing properties located in vertical buildings. Loans can reach up to US$100,000, with terms of up to 30 years, depending on the program’s conditions.
The favorable opinion issued by the Finance Committee marks a step in the legislative process toward ratifying an amendment to the sovereign guarantee that backs the credit. Once the required procedure is complete, this expansion will strengthen the FSV’s financial capacity to continue offering housing finance options to salvadoran families.
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