Peru's Housing, Construction and Sanitation Minister Milton von Hesse announced that during the current Presidential administration, the State-promoted social housing programs have favored more than 150,000 families, who wanted to own a home
Techo Propio program (basically a government grant) together with Nuevo Crédito Mivivienda fund (a grant, which also provides housing finance), have achieved to exceed the 150,000 houses promoted during the current administration.
Last year, 55,000 homes were promoted, most of them through Techo Propio (Own Roof).
Techo Propio is a program addressed to families with monthly wages lower than S/.1,860 (US$590), who are interested in buying, constructing or improving their houses.
Techo Propio grants them the Bono Familiar Habitacional (Family Housing Bond-BHF) a direct subsidy the State grants to low-income families as a reward for their efforts on saving.
The Nuevo Crédito Mivivienda is a mortgage credit modality that allows to purchase a house or build one on a terrain owned by the fund receiver. It ranges between S/.53,900 (US$17,111) and S/.269,500 (US$85,555).