dinero_admin 
The minister of Housing of El Salvador, Michelle Sol, announced new loan options for people who own land and wish to build their own home, with financing available starting at US$20,000.
The official explained that the program aims to facilitate access to housing solutions for Salvadoran families who already own a lot and need financial support to begin or continue the construction process of their house.
She detailed that the initiative intends to provide accessible alternatives that allow families to progressively improve their living conditions and move toward owning their own home.
The announced options include new housing models with different financing amounts and features, adapted to the needs of applicants.
The available alternatives include homes starting at US$20,000, with an approximate monthly payment of US$158.24; options starting at US$25,000, with estimated payments of US$196.85; and models starting at US$35,000, with an approximate monthly payment of US$236.47.
According to information shared by the authorities, loans can be granted with terms of up to 25 years, depending on the type of home and the financing requested.
The most expensive option includes three-bedroom homes, geared towards families seeking more spacious living areas and greater comfort within their housing project.
The program establishes as main requirements that applicants own a lot and have access to basic services such as potable water and electricity.
The authorities indicated that these options aim to streamline the construction process for families who already own land, facilitating access to financing and promoting more affordable housing projects.
The strategy is also part of the efforts to expand access to housing and strengthen housing development in different areas of the country.
Furthermore, the authorities emphasized that the program allows families to build gradually and adapt their homes according to their needs and financial capacity.
Minister Michelle Sol reiterated that the goal is to provide accessible financing options so that more salvadorans can realize their dream of owning a home through organized construction processes supported by the relevant institutions.
You can also read:
