The maximum quota for loan repayments is set at 5-30% of monthly income. That is, those with monthly wages of Bs2,800 ($US 1300), according to the new law their minimum monthly repayment would be 5% and those earning BsF23,000 ($US 10,700) per month would have a monthly repayment minimum of 30%.
The government is also offering subsidies towards the price of the home, where families with a monthly income of BsF 799 ($US371) can receive a subsidy of BsF 46,000 ($US 21,400). Those earning up to BsF 2,600 ($US 1200) can receive a subsidy of BsF 25,300 ($US 11,800) BsF 800 is the minimum monthly wage and also the pensioner income.
Previously, Venezuelans had a maximum of 20 years to pay the loan. Private banks can't profit from giving out bank loans, and currently are only offering loans of BsF 7,000-BsF 23,000 ($US 3300- $US 10,700), with a fixed interest rate of 10.11%.