Caputo attended the execution of the first 30-year mortgage credit

The Minister of Finance, Luis Caputo, participated this Friday in the execution of the first deed corresponding to a 30-year mortgage credit at the Banco Ciudad of Lomas de Zamora, Province of Buenos Aires. The Director of the Bank, Javier Ortiz Batalla, was also present.

These are the new 30-year credit lines that the public banks have implemented for middle-income sectors. Within this context, Caputo said: “We are promoting these credits from the Ministry of Finance through the coordination of public banks; this is crucial for the country’s growth”. Mr. Minister added: “We are very proud that many families will be able to have their first house with these 30-year credits”.

Ariel (30 years old), pharmacist, Eliana (26 years old), primary school teacher, and their daughter (one and a half years old), Paz, are the beneficiaries of the first loan of these characteristics that was granted by this bank. They will be owners of their first house, in Burzaco, after being tenants for 7 years.

The initial monthly installment of this credit will be of ARS6,149 for a loan of ARS1,029,000. This way, the amount of the installment is equal to the rent they were paying. Thus, the Elorriaga Montes family covers the 75% of the property value and the other 25% will be paid by Ariel and Eliana with their savings.

In this sense, Ortiz Batalla highlighted: “these figures clearly reflect our social banking commitment”.
This family has been looking for access to a mortgage credit for more than 5 years; within said context, Ariel said: “With this new credit line, I was able to have access to a higher amount of credit for the purchase of my first house”.