IPV Loans: How much you need to save to pay for a home of $226,000 or more

The Provincial Housing Institute (IPV) continues with the Construyo mi Casa program, a line of mortgage loans aimed at Mendoza families with their own land who are looking to build their own home.

The operation includes a pre- savings system in which the beneficiary contributes 15% of the total project value and the State finances the remaining 85% through disbursements as the project progresses.

Interested parties can register digitally on the IPV website. To access financing, they must complete the savings period or participate in the calls for bids, where they must offer installments . Depending on the type of project (construction or completion), the minimum and maximum installments to be offered are regulated, as are the income and conditions that the applicant must meet.

The Construyo mi Casa program allows registrants to access the loan through two mechanisms: completion of the savings period or participation in the calls for bids. For the latter, it is mandatory to have paid the corresponding installment for the month in which the bidding is held.

The interested party's proposal must cover a minimum total of 36 installments for construction projects and a maximum of 48 installments (i.e., up to 12 more installments can be added).

The Build My House program allows you to finance homes up to 140 m² with no interest on the first 80 m².

Mendoza Government Press

However, for completion projects, the minimum required is 18 installments and the maximum allowed is 24 installments , which represents a difference of 6 additional installments in the bidding process. This flexibility allows participants to advance part of their financial effort and improve their chances of being awarded the contract.

Once the loan is obtained, the payment plan is structured based on the household's income and adjusted monthly through the Salary Variation Coefficient (SVC) . Additionally, if the planned home is equal to or less than 80 square meters, the loan is interest- free, which represents a significant financial benefit.

The requirements for accessing the program are clear: own land (or acquire it within the next three years), have an income compatible with the IPV parameters, and have the required savings or cover the equivalent of the minimum fees required to bid.

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Family income must be between $1,134,000 and $2,430,000 , depending on the type of project selected. Construction areas range from 55 m² to 140 m² , and available loan amounts range from $48,900,000 to $106,600,000 , depending on the size of the home.

Monthly payments during the repayment period range from $226,000 to $485,000 , adjusted by CVS , with interest rates ranging from 0% to 4% , depending on the category.

During the savings period, the installments are updated using the UVA system, ensuring that the money saved does not lose value due to inflation. The plan also allows the use of alternative construction systems , provided they are approved by the corresponding municipality, are seismic-resistant , and have a minimum 20-year warranty, as established in Resolution 840/21 of the IPV.