1. What is FUNDEVI?

A/ We are a private non-profit institution, specialized in social housing, with financial soundness and the only credit entity in the country that systematically provides access to low income Honduran families for housing financing.

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2. For what purposes does FUNDEVI grant loans?

• Land purchase and legalization
• Land purchase and house construction
• House construction in own lot
• House purchase
• Houseware purchase
• House improvement
• Repossessed properties for sale
• Mortgage debt purchase
• Infrastructure development

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3. What is the credit limit?

A/ Our credit limit equals 75 minimum Honduras wages (US$430.20), considering that the credit line for each customer depends on their payment capacity and the asset value.

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4. What is the interest rate?

A/ 18% annually for loans with a mortgage collateral and 23% annually for loans with a fiduciary collateral

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5. What are the requirements to become a client?

• Honduran nationality (by birth or naturalized)
• Legal age - between 18 and 64 years (applicants over 21 may apply to a subsidy according to the Honduran Government regulations)
• Have an income that allows the credit payment
• Not have a bad credit record
• Live in Honduras
• Not have a house (if applying for subsidy)
• Legal land ownership (registered title deed)
• Proof of down payment 
• Comply with the requirements for the specific credit type

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6. What is the credit term?

A/ Up to 15 years, determined by the economic capacity of the family group 

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7. What are the requirements to obtain a loan from FUNDEVI?

A/ Depends on the credit type (Requirements) 

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8. What is a fixed monthly installment?

A/ It is the amount of money to be paid monthly that does not vary through the credit term; it includes the repayment of capital, interests and debt insurance

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9. How long does it take for a loan to be approved?

A/ Once all requirements are met and all the documents are submitted, the maximum analysis period lasts: up to 15 days for loans with mortgage collateral and up to 3 days for loans with fiduciary collateral

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10. How long does it take for a loan to be disbursed?

A/ Loans with a mortgage collateral will depend on the project´s progress, disbursements can be done weekly, however, the first investment must always be the down payment. In case of house purchases, a single disbursement is made once the mortgage has been subscribed.

Loans with a fiduciary collateral have an average disbursement time of one day.

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11. Applicants that economically support relatives (parents, siblings, etc.) are considered as a family?

A/ Yes.

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12. Does the Foundation build housing projects?

A/ FUNDEVI does not build, it only provides financing for house purchase, construction or improvement; occasionally, we may partner with urban/land developers who are responsible for the construction of housing projects. 

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13. Does FUNDEVI sell houses?

A/ The only properties available for sale at FUNDEVI are our repossessed properties

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14. What are your business hours?

A/ Monday – Friday; 8:00 am – 5:00 pm

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15. What is the lowest income considered for a loan?

A/ The minimum required monthly income is USD $430.20 

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16. Does FUNDEVI finance for lot purchase only?

A/ Yes, as long as the lot has access to basic services

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17. Is there a down payment?

Yes, it must be invested in the housing project; clients must not give the money to the Foundation nor its employees. 

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18. Where can the loan be paid?

A/ BAC Honduras, Ficensa, Davivienda, Banpais, Banco Atlántida

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19. Can I pay in cash at FUNDEVI’s office?

A/ No. No employee is authorized to receive money. All payments must be made through any of the banks listed. 

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20. What is the collateral?

A/ Mortgage loans: the house to purchase or build 

Fiduciary loans: one or two guarantors 

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21. Can I lose my house if I stop paying?

A/ Yes. If a client has more than four delayed payments, a judicial repossession process is begun. 

FUNDEVI charges an interest in all overdue payments. 

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22. What is the process of the loan approval?

• Documentation (requirements)
• Socioeconomic assessment
• Technical evaluation
• Loan approval
• Signing of contract
• Disbursement 

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23. Does FUNDEVI grant loans to under age minors or the elderly?

A/Our target market is the population between 18 and 64 years of age.

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24. Can I obtain a loan to build rental rooms?

A/ No.

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25. Does FUNDEVI grant loans in neighborhoods with no title deeds, only community board certificate?

A/ Only for fiduciary loans and for investments under US$1057.67

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26. When should I pay the loan and deed expenses?

A/ They are included within the loan; FUNDEVI pays directly to the lawyer.

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27. What are the steps to apply for a credit?

A/ View this page

28. What are the benefits of becoming a FUNDEVI customer?

• Own a home that provides shelter to your family. 
• Grace period up to 90 days for the construction period‍
• ‍Technical assistance in the design and budget planning
• Self-construction and free contracting 
• Easy access to financing and personalized service
• Payment options through the bank system
• Open credit line for further loans
• Being part of the biggest social housing financing institution in the country

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29. What are my obligations as a client?

• To live in the house
• Not to sell or transfer the house to a third party 
• To allow technical supervisions on the asset
• Not to allocate the funds in other investments than the ones approved by FUNDEVI
• Not to rent the house to a third party
• Not to set up a business that goes against the law or moral
• Pay your fee on time

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30. Can my down payment be more than the required percentage?

A/ Yes, if you have the economic capacity.

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31. If I pay my loan before the original term, do I pay less interests?

A/ Yes, however, if you received a Government subsidy you can only cancel your loan until half the time of the original term has gone by. 

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32. Where are your agencies located?

Search our agencies here CONTACTS

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33. Does FUNDEVI grant subsidies?

A/ The subsidy grants are subject to fund availability on behalf of the Government.

FUNDEVI is a private institution, however, it is qualified by the government housing authorities to intermediate subsidies, for construction or purchase, according to their conditions.  

The subsidy is a benefit granted by the Government only once.