Home » Learn about the new subsidy pre-allocation model of the Mi Casa Ya program – news

Learn about the new subsidy pre-allocation model of the Mi Casa Ya program – news

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Learn about the new subsidy pre-allocation model of the Mi Casa Ya program – news

The pre-assignment of subsidies is a model that works based on the pre-sales scheme and aims to provide families and the housing sector with better conditions to access mortgage credit and construction credit. This, in effect, generates greater certainty to promote the purchase and construction of priority interest -VIP homes.

The novelty of this great commitment, announced by the Minister of Housing, City and Territory, Catalina Velasco, is that it allows families to reserve a space for the subsequent allocation of the family housing subsidy in the period in which it is projected. the delivery of the property; which could be from January 2025.

In this regard, Minister Catalina Velasco highlighted that “having a pre-assigned subsidy allows the family to access credit, the construction company to reach the break-even point and be able to obtain the construction credit, and the initiation and development of projects. That is a great commitment to transform the program.”

The subsidy pre-allocation model is aimed at households that wish to acquire new priority interest housing (VIP) on urban or rural land. Those interested must apply to the Mi Casa Ya program at the credit establishment, solidarity economy entity or family compensation fund of their choice, inform them that they wish to pre-assign the subsidy and meet the established requirements.

These are the requirements that aspiring homes must meet:

1) All household members must have a valid registration in Sisbén IV, with a classification between A1 and D20.
2) Have current approval of the mortgage loan or housing leasing.
3) Not being owners of a home in the National territory.
4) Not having been beneficiaries of a family housing subsidy granted by a family compensation fund or by the National Government, nor having been a beneficiary, in any capacity, of the interest rate coverage established in Decree 1068 of 2015.

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To request the pre-assignment of the subsidy, the household must present the following documents: a) current approval letter for the mortgage loan or housing leasing and b) property separation contract or the document that replaces it. The latter must be signed by the parties and contain the full name, type and identification document number of the buyer or buyers, the expected date for delivery of the property (valid from January 2025); in addition to confirming that it corresponds to a home of priority interest.

Once the household obtains the pre-assignment of the subsidy, it will remain valid within the year for which the quota was reserved, according to the dates established by Fonvivienda through a circular, or until twenty-four (24) months after the pre-assignment; The thing that happens first.

Households that request pre-assignment starting in 2025 will be able to project the delivery date of the home for that same year, as long as at least six (6) months elapse between the pre-assignment and the request for assignment of the family housing subsidy.

Steps to achieve pre-assignment of the subsidy

1. Application to the Mi Casa Ya program, at the credit establishment, solidarity economy entity or family compensation fund, where you will request the mortgage loan or housing leasing.

2. Verification of requirements by the credit establishment, solidarity economy entity or family compensation fund, chosen by the household.

3. Once the household presents the requested documents to the credit establishment, solidarity economy entity or family compensation fund, the documentation will be uploaded.

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4. The Ministry will review the requested documents.

5. If the documents meet the established requirements, the Ministry will reserve a subsidy quota corresponding to the period in which the delivery of the home is projected.

6. When the priority interest home (VIP) that the household is going to acquire reaches 70% completion of the work, the credit institution, solidarity economy or family compensation fund must upload the current approval letter of the mortgage credit or housing leasing and the individual or type appraisal of the property.

7. The Ministry reviews the documents and if the established requirements are met, the status of the home advances to “Applicant – Compliant”.

8. The credit institution, solidarity economy or family compensation fund must make the request to assign the subsidy through the platform managed by TransUnion and the status of the household advances to “To be Assigned”.

9. Finally, the allocation of the subsidy is generated when Fonvivienda issues the Resolution for the allocation of the subsidy and the status of the household changes to “Assigned”.

After the assignment, the procedure follows the regular steps of application, collection and disbursement of the Mi Casa Ya family housing subsidy.

Source: Ministry of Housing

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