How to Use 25% of Your AFP For a Mortgage Loan?

If you are affiliated with the Private Pension Fund (AFP) you can use 25% AFP for a mortgage loan. You can know the conditions and steps to follow when reading this article.

It is very easy to opt for partial financing of a mortgage loan using the funds available in your AFP. Of course, provided that said mortgage is intended for the acquisition of your first home.


What are the conditions required to qualify for the use of the AFP for a mortgage loan?


The conditions that you must satisfy to qualify for the use of the AFP for a mortgage loan are the following:

  • You should not own any property, either individually or through your spouse.
  • You must not be co-owner of a property registered or registered in public records, where you have a participation equal to or greater than 50%.
  • You and your spouse cannot own or co-debtor any mortgage credit.
  • You must not have previously used 25% of your AFP in a mortgage loan.


What are the steps to follow to use your AFP for a mortgage loan?

mortgage loan?

To use 25% of your AFP in the application for a mortgage loan, you must perform the following steps.

Select a mortgage loan at your convenience

Check among the mortgage credit options available in the Peruvian bank, which one suits you best. Compare the conditions offered by the various financial institutions, and in particular be attentive to:

  • Amount of commissions for opening and administration, and penalty for advance payments.
  • Amount of the exact monthly payment you must cancel, and if there are extraordinary fees.
  • Insurance prices for unpaid balance that you must buy to qualify for the loan.

Once the option is selected, opt for it in one of the offices of the corresponding financial institution


Have 25% of your AFP funds.

Have 25% of your AFP funds.

Request the available 25% of your AFP to partially or totally cancel the initial mortgage loan fee. To do this you must sign an application and affidavit, requesting the use of AFP funds. The same financial institution will provide you with these documents and will advise you on the steps to follow.

The administrator of your AFP takes up to 10 business days to process your request and respond. Therefore, in an average of 15 business days the financial institution will communicate the result of this request. If this does not apply, or requires additional information, it will give you the corresponding statement of reasons in writing.

If the request is appropriate, the administrator of your AFP will make a transfer to the bank where you made the request. Once the funds have been received, they will be considered in the initial payment of the mortgage loan.