Uruguay launches Abriendo Puertas housing loan program

The Ministry of Housing and Territorial Planning (MVOT) in Uruguay has opened applications for the ‘Abriendo Puertas – Primera Vivienda’ program. Developed in partnership with the Banco Hipotecario del Uruguay (BHU), the initiative aims to provide 500 loans across the country's 19 departments to facilitate access to homeownership.

The program offers financing in indexed units (UI) for terms of up to 25 years, allowing for up to 95% of the property value to be financed. Additionally, the Ministry may provide subsidies covering up to 50% of monthly installments based on a household's economic situation. The initiative targets families who have the capacity to manage a mortgage but struggle to accumulate necessary savings or meet standard financing conditions.

Valuation caps vary by region. In Río Negro and other interior areas, the maximum property valuation is set at 620,000 UI, approximately US$ 103,077. The maximum loan amount in these regions is 589,000 UI, or roughly US$ 97,926, requiring an equivalent savings amount of approximately US$ 5,151.