Programs for young people to buy a home in Peru

Buying a first apartment before turning 35 in Lima, Arequipa or Trujillo has become a race against the price per square meter. The good news is that the Peruvian state aggressively subsidizes the first purchase through the MiVivienda Fund. For a young person with formal work, dependent or independent, three central programs are worth understanding before talking to any bank: the MiVivienda Loan, the New MiVivienda Verde Loan and Techo Propio.

Map of the MiVivienda Fund

The MiVivienda Fund does not lend directly: it channels the subsidy through banks, cajas and finance companies. The buyer receives a soles mortgage on soft terms with a bonus that reduces the balance. The three products for young people are:

1. MiVivienda Loan: for new or used housing up to S/ 489,600 (2026 values, adjustable by UIT).
2. New MiVivienda Verde Loan: same conditions, with an extra bonus for projects holding green certification.
3. Techo Propio: for low or lower-middle income households, aimed at housing of up to S/ 124,200 (value ranges 1 and 2).

Each is paired with a state bonus: the Bono del Buen Pagador (BBP) for MiVivienda and the Bono Familiar Habitacional (BFH) for Techo Propio.

Bono del Buen Pagador (BBP)

The BBP is the key piece for young people. Its logic:

• The buyer receives it as a discount against the loan balance, provided they pay the first installments on time.
• The amount depends on the home's value. For a home from S/ 100,000 to S/ 240,000 it can range from S/ 22,200 to S/ 41,800.
• In the MiVivienda Verde Loan, the BBP is S/ 5,100 higher if the project is certified.

For someone under 35 just entering the labor market, that bonus is in many cases worth a month and a half of additional savings.

MiVivienda Verde Loan

Its appeal goes beyond the environment:

• Mortgage rates currently between 8 % and 11 % effective annual in soles, depending on the bank.
• Terms of up to 25 years.
• Minimum down payment of 7.5 % of the property value (most banks require 10 %).
• Extra bonus over a regular MiVivienda.
• It applies to most new projects in Lima, Arequipa and Trujillo, since developers already pursue A or B certification to sell better.

Techo Propio for young people

If the household monthly income does not exceed the current cap (in 2026 around S/ 4,200 for new housing), Techo Propio is the best option. The BFH is a subsidy that does not have to be repaid:

• Up to S/ 47,200 for New Housing Acquisition.
• Up to S/ 13,200 for Improvement.
• Up to S/ 32,700 for Construction on Own Site (own land, COFOPRI or clean title).

For a young independent worker or entrepreneur, Techo Propio in the Construction on Own Site mode is a powerful route when there is family land.

Typical scheme for someone aged 27

Picture a 27-year-old programmer in Lima, monthly income S/ 5,800, no prior property. He wants to buy an apartment of S/ 280,000 in Comas with green certification:

• Down payment: S/ 28,000 (10 %).
• Bono del Buen Pagador: S/ 25,700.
• MiVivienda Verde Loan: S/ 226,300 over 25 years, rate 9.5 %.
• Estimated monthly payment: S/ 1,980.

The payment represents 34 % of his income, within the debt capacity required by the SBS. Without the BBP, his payment would be 13 % higher.

Common requirements

• Be of legal age (no specific minimum age beyond 18).
• Not own a home or have received state housing support.
• Prove income: for dependents, the last six pay slips; for independents, fee receipts and Income Tax filings before SUNAT.
• Good credit history at INFOCORP or equivalents.
• Down payment saved (minimum 7.5 % in Verde, 10 % in regular).

Application steps

1. Check your credit rating and clear any negative reports.
2. Visit a bank that operates with MiVivienda (most do: BCP, BBVA, Interbank, Scotiabank, Mibanco, regional cajas).
3. Request pre-qualification and choose product: regular, Verde or Techo Propio.
4. Select the real estate project and verify it is registered with the Fund.
5. Sign the minute and public deed at the notary and register it with SUNARP.
6. Pay the first installments on time to activate the BBP.

Before signing, check this

1. TCEA, not just TEA: includes insurance and fees.
2. Mortgage insurance and all-risk insurance: mandatory; compare bank vs. an insurer of your choice.
3. Prepayment penalty: Law 28587 lets you prepay without penalty, but read the contract.
4. Alcabala (3 % over the excess of 10 UIT): paid by the buyer.
5. SUNARP / REPEV appraisal: ask to see the report before closing on price.

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