Buying your own home or apartment can be easier than you think, especially if you take advantage of the benefits offered by your Caja de Compensación (Family Compensation Fund) in Colombia. Here’s everything you need to know to make the most of this opportunity.

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WHAT IS A CAJA DE COMPENSACIÓN?

These are organizations aimed at improving the quality of life of their members. As an employee or independent worker, you contribute a monthly amount that gives you access to a variety of services and benefits related to well-being, entertainment, health, and more.

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HOUSING SUBSIDY BENEFIT

One of the main advantages of being affiliated with a Caja de Compensación is the housing subsidy. This is a one-time financial contribution provided by the Fund and the Government for families with monthly incomes equal to or less than 4 legal minimum wages.

This subsidy is meant to complement your savings, credit, or other contributions to help you purchase a new home.

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REQUIREMENTS TO ACCESS THE BENEFIT

• You must have a household, either single-person or multiple members.
• Be affiliated with a Caja de Compensación in Colombia and up to date with your monthly contributions.
• No member of your family should currently own a property in Colombia.
• No member of the family should have received a housing subsidy before.
• The property you choose must be part of a VIS housing project (Subsidized Housing), with a value not exceeding 150 minimum legal monthly wages.

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HOW TO APPLY

1. Complete the application form and attach the documents requested by your Caja de Compensación.
2. Your application is entered into the FOVIS system and scored according to points.
3. The assignment process begins, from highest to lowest score.
4. A letter of acceptance is issued confirming your subsidy.
5. Present the acceptance letter to the developer or real estate company to proceed with the purchase. The subsidy is disbursed directly to the project, not to the family.

Accessing this benefit is simple and can make your dream of owning a home a reality.

At Mendebal, we invite you to visit our virtual sales office to explore all our new housing projects and take the first step toward buying your own apartment in 2021.

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