05/23/2013

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General Characteristics The characteristics of the granting of the loan for the expansion of main house with the resources of the housing policy are as follows: General characteristics of the loan of housing policy for the expansion of housing: financing will be settled in favour of the beneficiary in a single disbursement granted at the date of notarization. Once cancelled the loan for expansion, is it eligible for new funding for expansion or remodelling, after 3 years from the date of registration of the credit document. Funding may be given up by 2 times to the same beneficiary. The loan will be guaranteed by the Constitution of first mortgage. The figure of the guarantor may be considered only in cases of families subject of special attention (must comply with the requirements for applicants and co-applicants). In the event the loan include direct housing subsidy, if the beneficiary disposes of the property within 5 years from the date of the grant of the subsidy, this must be reinstated to its value updated to the time of the disposition. Public registrars may not enter any negotiations without proof of cancellation of the amount of the updated grant issued by the BANAVIH. The mortgaged property may not be alienated without the authorization of the mortgagee, while the loan is in effect. The loan conditions of housing policy for the expansion of housing with resources from the FAOV: level of care depending on income family allowance direct housing credit mortgage subsidy + mortgage rate annual term in years fee financial 20% level I assistance up to Bs. 1874 20,000 41.