Current subsidies for buying a home in 2025: Don't miss out!
In the home-buying process, subsidies play a key role. They help ease the financial burden for many Colombian households. With various programs available, it is important to know which options are in effect in 2025.
Access to housing subsidies can make a difference when making significant investments in property. Each program has its own features and requirements. Below are the most relevant housing purchase subsidies in Colombia.
Mi Casa Ya: New Adjustments and Changes in 2024
The Mi Casa Ya program has been a cornerstone of housing policy in Colombia since 2015. It has provided thousands of subsidies across the country. However, important adjustments were made in 2024, including the suspension of the interest rate subsidy, while support for the down payment remains in effect.
Subsidies currently available:
Households earning up to 2 legal monthly minimum wages (SMLMV) may receive up to 30 SMLMV to help pay the down payment. Those earning between 2 and 4 SMLMV may receive up to 20 SMLMV in subsidies.
Requirements:
To access these benefits, applicants must meet certain requirements. They must purchase a newly built home, must not have previously received another housing subsidy, and must not own another property. They must also have completed the Sisbén IV survey, with a classification of D11 or lower for urban households and D20 or lower for rural households.
Maximum home price:
In 2025, the maximum price for Social Interest Housing (VIS) has been adjusted to 192.172.500 pesos. This program continues to support those wishing to buy a newly built home, whether in urban or rural areas, through financial institutions or family compensation funds.
Housing Subsidies from Family Compensation Funds
Family compensation funds in Colombia offer additional subsidies to their members. This is especially relevant for formal-sector workers seeking support to buy or improve their homes.
Subsidy amounts:
Family compensation funds may grant up to 30 SMLMV toward the purchase of a newly built home. They also offer up to 18 SMLMV for building or renovating an existing home.
Requirements:
To access these subsidies, applicants must be members of a family compensation fund. They must also not own a home or have previously received a subsidy.
Concurrent Subsidy
The concurrent subsidy combines the benefits offered by family compensation funds and the national government. This combined approach enables beneficiaries to maximize financial support, increasing their chances of buying a home.
Combined amounts:
With the concurrent subsidy, households may receive up to 65 SMLMV. This total includes both the family compensation fund subsidy and the one granted by the national government.
Requirements:
The requirements for the concurrent subsidy are similar to those of other programs. Applicants must not own a home or have previously received subsidies, and the benefit applies exclusively to Social Interest Housing (VIS).
Rental Subsidy
Some family compensation funds also offer specific subsidies to help pay rent. This option is designed for people who are already looking for a home but have not yet been able to complete a purchase.
Coverage:
This subsidy may cover up to 90% of the monthly rent. It is intended to ease the financial burden on households while they complete the home-buying process.
Requirements:
To qualify for the rental subsidy, households must have an income equal to or below 2 SMLMV. The rental property may be new or previously occupied, but the rent must not exceed 1% of the value of a Social Interest Housing (VIS) home.
Rural Housing Subsidy
The rural housing subsidy is intended for households in rural areas looking to build a home. This support is essential for families facing greater economic and infrastructure challenges.
Amount:
This type of subsidy may be up to 70 SMLMV, providing significant support for building homes in the countryside and remote regions.
Requirements:
Applicants must ensure that the land or lot intended for construction meets the appropriate standards and is not located in a high-risk area or nature reserve.
Generación FNA: Preferential Loans for Young People
The Fondo Nacional del Ahorro (FNA) offers preferential loan options specifically designed for young Colombians between the ages of 18 and 28. This is a significant step toward promoting access to housing for younger generations.
Benefits:
Young people can access preferential mortgage rates, allowing them to finance up to 90% of the total value of VIS and non-VIS homes, whether new or previously occupied.
Requirements:
To qualify, applicants must be members of the FNA and have no negative records with Datacrédito. It is worth noting that the non-VIS subsidy, which was introduced during the pandemic, was not renewed and has been discontinued since 2023.
Knowing about all the subsidies currently available is essential for anyone seeking a home in Colombia. These opportunities allow many families to access their first home and improve their quality of life. Up-to-date information and proper preparation are key to making the most of these benefits, which make it easier to buy a home in the country.