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| dc.title | Affordable Homes and Mortgages for Nicaraguans |
| dc.contributor.author | Inter-American Development Bank |
| dc.contributor.orgunit | Opportunities for the Majority Sector |
| dc.coverage | Nicaragua |
| dc.date.available | 2015-07-21T00:00:00 |
| dc.date.issue | 2012-01-01T00:00:00 |
| dc.description.abstract | Low-income and self-employed Nicaraguans face two serious obstacles when looking to buy a home: a shortage of affordable housing, and difficulty in obtaining a mortgage.An innovative model is bringing both homeownership and financing within reach of Nicaraguans at the base of the pyramid. The Rent-to-Own Housing Program allows prospective buyers to rent the newly built housing unit they'd like to buy, and to use their track record of monthly rent payments to build a formal credit history and qualify for a mortgage. The Inter-American Development Bank's Opportunities for the Majority Initiative (OMJ) is offering a senior secured loan for up to $5 million to Banco de Finanzas S.A (BDF) Nicaragua to support the pilot rental and mortgage loan program. If successful, IDB will lend another $5 million to scale up the model. |
| dc.format.extent | 2 |
| dc.identifier.doi | http://dx.doi.org/10.18235/0006000 |
| dc.identifier.url | https://publications.iadb.org/publications/english/document/Affordable-Homes-and-Mortgages-for-Nicaraguans.pdf |
| dc.language.iso | en |
| dc.medium | Adobe PDF |
| dc.publisher | Inter-American Development Bank |
| dc.subject | Housing Finance |
| dc.subject.keywords | OMJ |
| dc.type | Catalogs and Brochures |
| idb.identifier.pubnumber | Catalogs & Brochures |
| idb.operation | Not available |