Reduce your installment
The district housing subsidy that helps households pay up to 48 installments of their mortgage loan or housing leasing.
Reduce your installment Subsidy
The district housing subsidy "Reduce your installment" is a financial support that helps households pay up to 48 installments of their mortgage loan or housing leasing for the purchase of a new VIP or VIS in Bogotá.
Who can apply for the subsidy?
Covers up to 48 consecutive installments or lease payments.
Grants up to an additional 2 SMMLV (approximately COP $2,847,000).
Applies to the purchase of VIS or VIP housing in Bogotá.
Additional benefit for sustainable projects and water reuse in Bogotá.
Compatible with other housing subsidies of the Distrito Capital.
For households with income of up to 2 SMMLV.
May be combined with national subsidies provided they do not apply to the interest rate.
Requirements
Income
Total household income must not exceed 4 SMMLV (COP $5,694,000).
Approved loan
An approved loan or leasing for social interest housing is required.
Not having received previous subsidies
except for exceptions*
Not owning a home in Colombia
Not being the owner of a home in Colombia.
Not having received interest rate benefits
granted by the National Government.
This subsidy does not apply to:
Loans or housing leasing intended for construction, improvement, subdivision or expansion of a home.
Loans or housing leasing resulting from restructurings or refinancings.
Note: The entities granting the loan must request the "Reduce your installment" subsidy from the District Secretariat of Habitat once the loan disbursement or the commencement of the housing leasing is certified, and the established requirements are met.
The assignment of the subsidy is subject to the budget availability of the District Secretariat of Habitat.
