Chileans living abroad can apply to every Housing Program offered by the Housing and Urban Planning Department, excepting those that have as a requisite the CAS survey (CAS survey is a measuring instrument used by City Council at the address of the candidate, allowing identification of the population below the poverty line)

The available programs are the following:

Housing Subsidy System (D.S. Nº 40 de V. y U., 2004):

General Subsidy (Title I).

Territorial Interest Subsidy (Title II: Urban Renewal or Prior Development sectors)

Patrimonial Rehabilitation Subsidy (Title III: Historical Conservation Sectors or Historical Conservation Property).

Application can be done individually o collectively with housing Projects.

The CAS file improves chances, but is not an obligatory requisite for applying.

Housing Leasing (subsidy for renting contracts with purchasing promise).

The price of a housing unit acquired with Government aid cannot exceed $18,390,000 Chilean pesos (US$34,000), except those that are acquired on Urban Renewal, Prioritized Development or Historical Conservation Sectors, or Historical properties, in which the housing unit price cannot exceed $36,780,000 (US$70,000)

In regions XI, XII, Palena Province in the X Region, and in the Easter Island and Juan Fernandez Island on V Region, the value of the housing unit can reach. $21,960,000 Chilean pesos (US$41,000)

For Housing Leasings at Easter Island and Juan Fernandez Island, the value can reach $14,640,000 Chilean pesos (US$28,000).

Every housing related operation such as purchase, sell, saving, subsidy or credit are performed in UF (Unidad de fomento, equivalent to $18,390 Chilean pesos or US$38 dollars), which is an adjustable money and its variation is set by the Central Bank.

As an example, its value in April the 9th, 2006 was $ 17,910.46, equivalent to nearly US$32.

The daily UF value can be consulted at the Central Bank website www.bcentral.cl.

There are three different ways in the Housing Subsidy System:

Savings: Is the applicant’s personal contribution. He must apply to the housing unit price the savings declared at the moment of applying for the housing unit as a minimum.

Subsidy: It’s the economical contribution awarded by the Government. It is not refundable and awarded only once.

Mortgage Credit: It’s the credit awarded by a Bank or other financial institution to complete the Housing unit price. It’s paid back to the financial institution through monthly payments (dividends) on an agreed period, which generally is from 12 to 20 years. Other cash down contributions made by the beneficiary.

In Housing Leasing, a renting contract is subscribed with a purchasing promise to a Real Estate Society which business is Housing Leasing, where the promised purchasing price is stipulated, to which the subsidy is applied.

Although previous savings are not a requisite for acquiring a subsidy, the Real Estate Firms can demand a cash down contribution within the conditions in order to carry out the operation.

The mortgage credit is managed through a legal representative, at Banks and Financial Institutions, mortgage shared investment funds managing companies or savings and credit cooperative enterprises, which evaluate solvency and payment capacity of applicants. Therefore, proof on income is necessary
We suggest visiting Chilean financial entities.

NOTE: Bancoestado through its website www.bancoestado.cl offers the possibility of opening a housing savings account, and pre-qualification of economic solvency of people interested in acquiring a mortgage credit.

The Housing and Urban Development Department has subscribed agreements with different credit entities (banks, financial societies, mortgage shared investment funds administrators, savings and credit cooperative enterprises), for mortgage credits to be awarded to finance housing units acquisition Title I, Stage I of the Housing Subsidy System (D.S. Nº 40 de V. y U., 2004), that allows easier access to credit, for example, the acceptance of informal proof on income documents through sworn declarations authorized by a notary; accepting third parties as shared in common co indebts; the evaluation of the client based on their capacity to serve contracted credits with the credit entity; requisites reduction of good finance conduct of applicant and co indebt; demanding insurance credit such as fire by seismic activity, disability and death insurance, unemployment and temporary disability for independent workers, oriented to protect people and avoid housing units auctions in case of loosing their sources of work.

It is necessary to award special notary power to someone residing in Chile with the following attributions:

Special notary power to represent the applicant before the SERVIU; it must consider the attribution to carry out all the necessary actions to enroll the interested person in the Registry concerning D.S. Nº 62 de V. y U., 1984, to give the necessary authorization when registering such as the authorization for savings consultation to the Bank (if it is a Bancoestado or Banco del Desarrollo Savings Account), Civilian Registry and Identification Service consulting; requesting, withdrawal and filling application form, or to apply online at the SERVIU or other authorized offices, signing of the application form or application voucher; demanded sworn declarations and withdrawal of subsidy certificate once obtained.

Special notary power for Bank representation: must include representation to make a housing savings contract, modify such contract, requests of account summary reports or account maintenance certificates and average balances when needed, fund withdrawal authorization or savings applications.

The Chilean Consulate must approve the document. It is recommended to have an authorized copy, obtained at a Chilean notary office.

It is recommended that the applicant carry out the housing unit purchase personally, given the complexity of the whole operation.

Otherwise, the applicant should give a full ranging notary mandate through public record at the resident country or at the presence of the Chilean Consul, which includes every necessary faculty to acquire a housing unit, including those necessary to authorize the withdrawal and application of savings, payment of subsidy, acquiring and application of mortgage credits.

It is a requisite, for both enrollment in the D.S. N°62 of H. and U.D. regulated registry and to apply, have a Chilean ID card.

Attention: To persons that have adopted a nationality different from the Chilean, and who are interested in applying for a housing unit in Chile, it is recommended to re obtain their Chilean nationality first. According to the law N° 20.050 enacted on September 17, 2005 that reforms the Chilean Political Constitution, in its XI article it establishes that Chileans who would have lost their nationality, will maintain it in full right according to constitutional dispositions. We suggest consulting of information regarding the nationality recovery process at: www.dicoex.net / Institutional Topics / Nationality related topics

To obtain information regarding Programs, Housing Subsidies and minimal savings amounts, we suggest to visit our web site: www.minvu.cl / click on Housing and Subsidies / Information for Chileans living abroad or: Housing Programs. In this section you will fin a brief description of all of our Programs, recipients, requisites, documentation and more.

The references regarding Housing prices allowed to be financed with subsidies, is done in consideration of each housing program, regardless of the country of residence.

To buy a housing unit with the obtained subsidy, the offer must be searched at the private sector, whether it is a person or company. We suggest you to visit some websites such as: www.cchc.cl, www.pabellondelaconstruccion.cl, www.coproch.cl, www.acop21.cl, www.propiedades.elmercurio.cl .

Regarding interest rates, we suggest you to visit the following websites: www.bancoestado.cl, www.bdd.cl, www.banefe.cl, www.corpbanca.cl, www.bancocentral.cl. The conditions and requisites to obtain a mortgage credit are defined by the corresponding banking entities.

To be able to apply to any Housing Subsidy or Program, you must be registered at the Unique SERVIU Registry, this registration must be carried out at the housing departments in the corresponding City Councils or the SERVIU in each Region, at latest on the last working day of the month before you apply, enclosing the following information in copies:

National ID card f applicant and spouse (if applicable)

Marriage Certificate (if applicable)

Housing Savings Account Document

The Housing Savings Account Document does not need to be old In order to apply, but it must comply with the minimal savings amount according to the amount to which the application refers, and can be obtained at any bank or financial institution that has Housing Savings Account Document. The calendar and application requisites can be seen at our website: www.minvu.cl / Housing and Subsidies / Application call calendars / click on National Calls.