Properties for Sale in Lake General Carrera

Mortgages in Chile

Chilean banks offer mortgages (credito hipotecario) denominated in UF (Unidad de Fomento) at rates between 3.5% and 5.5% annually. Financing covers up to 80% of the property value over 15 to 30 years. Requirements include demonstrable income, employment history, and clean credit history.

What is UF?

The UF (Unidad de Fomento) is an inflation-adjusted unit of account widely used in the Chilean real estate market. By expressing prices in UF, values remain stable in real terms regardless of Chilean peso inflation.

Foreign Buyers

Chile allows property purchases by foreigners without special restrictions. In the Aysen Region, there are border zones where authorization from the Ministry of Defense is required for purchases by foreign individuals or companies. This is an additional procedure, not a prohibition.

Legal Purchase Process

1. Promesa de compraventa: preliminary contract with terms and conditions
2. Title study: verification at the Conservador de Bienes Raices (property registry)
3. Public deed (escritura): signed before a notary with payment
4. Registration: property title transfer to the buyer