Social Responsibility
The base of the pyramid of formal employment
While other financial institutions frequently ignore persons in our lending niche, since 1997 we have remained focused on assisting persons from the middle-low income sectors, or what we refer to as “the base of the pyramid of formal employment”. Typical mortgage clients are school teachers, nurses, policemen, bookkeepers, clerks, secretaries other permanently and formally- employed persons from the private and public sectors.
Property types financed by La Hipotecaria are modest single-family or multi-family dwellings that vary in size from approximately 45 to 80 square meters (500 to 900 square feet). Dwellings usually have two or perhaps three small bedrooms, one or two bathrooms, a small living area and a small kitchen area. All homes, and the developments where they are located, must pass La Hipotecaria´s own stringent requirements in regard to quality infrastructure such as paved streets, adequate clean water and power sources and connection to sanitary sewer systems and general safety and client well-being.
La Hipotecaria has never provided mortgage financing for the purchase or refinancing of second homes, vacation homes or residential properties to be leased as investments.