Mortgage Credit

Mortgage Credit

Credit for real estate financing

Financing for sale, namely floors, apartments, fractions, villas and gated condos and establishing a direct link between construction financing and subsequent housing financing for purchase by individuals or companies.

Characteristics

Target market

Companies, individual business owners, cooperatives and institutional investors in the construction and real estate sectors.

Loan term

Up to 5 years: in renewable periods of 1 year (with automatic renewal).

Maximum Total Amount

  • Up to 70% of the project's appraisal value/planned construction costs;
  • Another maximum amount may be negotiated, on a case-by-case basis, depending on the analysis of the company, the business to be developed and the respective economic and financial feasibility study and guarantees.

Releases

These are made in accordance with the development of the building and taking into account the assessments that will determine the amount of the installments to be released.

Reimbursement and Payment of Interest

  • Usage interest paid monthly during the construction and sale process;
  • With the registration of the horizontal property, repayments will be made as and when payments are received from the buyers and/or the amount contracted with the company will be automatically reduced by the amount of mortgage loans channeled to the BI, in a % to be defined on a case-by-case basis and proportional (by permilage) to the value of the guarantee to be expunged.

Guarantees

  • Mortgage on land and building or other + endorsed promissory notes, guarantee or other;
  • Fire insurance;
  • Building, construction and assembly insurance.

Basic Documentation

  • Loan application through letters or templates in the BI;
  • Balance sheet for the last 3 years;
  • Updated balance sheets;
  • Updated commercial registration certificate;
  • Company bylaws;
  • Identification of the legal representative(s).

Building documentation

  • Location plan;
  • Building permit;
  • Architectural and stability project for the property approved by the local city hall;
  • Construction budget / contract awarding the work;
  • The construction company's license must be at a level compatible with the construction budget.

Records and Certificates

  • Land registry certificate ( Registry Office);
  • Certificate of Land Registration ( City Hall).