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Housing Minister Michelle Sol announced a series of advancements and adjustments to the national credit policy, highlighting the strengthening of access to housing and the increase in available loan amounts for salvadoran families.
She reported that since the beginning of the current administration, 55,000 home purchase loans have been granted, with a cumulative investment of US$1.14 billion. In addition, 11,898 properties have been placed under the recovered housing program, representing an additional investment of US$126.7 million. Furthermore, Michelle Sol announced: “Today, at the FSV Board of Governors meeting, we approved that, starting november 27, all loans will require proof of no collateral”.
In total, these programs represent over US$1.266 billion allocated to facilitate access to housing.
The minister also confirmed that they are working with the Inter-American Development Bank (IDB) to expand access to credit, highlighting that salvadorans have demonstrated high levels of repayment compliance.
As part of the new measures, it was announced that only one loan will be granted per family group, to guarantee more equitable access. The social housing loan policy was also modified, raising the financing limit from US$40,000 to US$45,000.
The adjustment also includes a reduction in the interest rate for loans between US$40,000 and US$45,000, which will be 5.85% with a 2% down payment for new housing. For the informal sector, the rate will be 7.5% with a 7.5% down payment.
These measures will take effect on january 5.
Authorities say the changes aim to boost access to housing, increase financing capacity, and strengthen the stability of the national credit system.
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