Feb 15 • 16:45 UTC 🇪🇨 Ecuador El Universo (ES)

This is the maximum financing amount of Credicasa in the Biess

The BIESS offers a mortgage loan called Vivienda Premier Credicasa, designed for the purchase of new housing with preferential conditions for members and retirees.

The Banco del Instituto Ecuatoriano de Seguridad Social (BIESS) has introduced a mortgage loan program named Vivienda Premier Credicasa, which is specifically aimed at facilitating the purchase of brand new homes. This initiative features attractive financing conditions tailored for both members and retirees of the institution. Potential borrowers can benefit from a financing amount reaching up to USD 65,000, which includes associated costs, and can be repaid over a maximum period of 25 years. The low interest rate of 2.99% enhances the affordability of this loan for eligible individuals.

To qualify for this mortgage, applicants must meet certain criteria. The maximum allowable family income is set at USD 1,527.94 per month, translating to approximately 3.17 times the unified minimum wage in Ecuador. The properties that fall within the program's purview must be unique, newly constructed homes intended for non-commercial purposes, with an appraisal value not exceeding USD 71,504.70. This ensures that the loans are directed towards appropriate housing that benefits individuals and families looking for their first home.

Moreover, the application process is streamlined, allowing for automatic pre-qualification fully online, making it easier for potential borrowers to understand their eligibility. The program is targeted primarily at dependent members with a documented history of 36 contributions over the last 13 consecutive months, as well as voluntary members with similar contribution records. Retirees who receive pension payments are also eligible, further widening access to home ownership through this innovative financing solution offered by the BIESS.

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