Chilean Mortgage Subsidy Makes Homeownership More Affordable

Santiago, Chile – A new law in Chile is making homeownership more attainable for many citizens. The government's subsidy program for mortgage interest rates is lowering monthly payments, according to Romina Capettillo, a financial expert interviewed on La Metro FM's Show Me The Money program. "The subsidy to the interest rate is an opportunity to be able to buy a property," Capettillo stated. The subsidy is designed to reduce the burden of mortgage payments, ensuring that the monthly payment does not exceed 25% of a borrower's disposable income. For example, Capettillo explains that if a monthly payment was previously 670,000 pesos, it could now be reduced to 600,000 pesos due to the subsidy. This initiative is expected to stimulate the housing market and improve living conditions for many Chileans. The program is sponsored by Santander Open Academy and is broadcast on various platforms, including La Metro FM radio, Zapping TV, and YouTube.