People who bought housing will receive help to reduce their loan payment installments: here's how it works
The Mayor's Office of Bogotá, through the District Habitat Secretariat, has consolidated the 'Reduce your Quota' program. This benefit, which is part of the integral strategy 'My House in Bogotá', is presented as an economic lifeline by covering a significant part of the monthly installments of mortgage loans or housing leasing during the first four years of the loan's life.
TL;DR
- The 'Reduce tu Cuota' program in Bogotá subsidizes monthly mortgage or housing lease payments for the first four years.
- The total subsidy amounts to $21,010,860 by 2026, paid out in 48 monthly installments directly to lenders.
- This can reduce monthly payments by 30-35%, freeing up funds for other essential needs.
- Eligibility requires household income below 4 SMMLV ($7,003,620 for 2026), purchase of new VIS or VIP housing in Bogotá, no prior property ownership, credit approval, and no previous national interest rate subsidies.
- Applications must be processed before loan disbursement through allied financial institutions.