The government of President Daniel Noboa Azin is advancing a national housing policy called “Tu Casa Sí o Sí,” which includes the Miti–Miti and Credicasa programs. The goal is to improve access to adequate housing for different sectors of the Ecuadorian population, according to their needs.
On January 30, President Noboa visited Chongón in Guayaquil to observe the progress of these initiatives and meet with families who have benefited from them. During his visit, he said these programs represent “the effort and the struggle of two years by the Government to put the house in order,” adding that responsible decisions have created conditions for new policies and credit options for citizens. “Here we are fulfilling our promise,” he stated.
The Miti–Miti program, managed by the Ministry of Infrastructure and Transport (MIT), offers preferential mortgage loans for first-time homebuyers. These loans feature a 4.99% interest rate, a 5% down payment, and repayment terms up to 25 years. Financial partners include Banco del Pacífico, Banco Pichincha, Banco General Rumiñahui, Mutualista Pichincha, and Mutualista Azuay.
Separately, the Banco del Instituto Ecuatoriano de Seguridad Social (BIESS) runs Credicasa. This plan recently lowered its interest rate to 2.99% for premier housing mortgages or loans up to $50,000—the lowest rate available among public and private banks.
President Noboa emphasized: “The banks, the financial institutions are yours, not any politician’s, and they must serve the people.” He also reported that “so far we have delivered about 20,000 solutions throughout the country.”
Private sector involvement has expanded housing supply and stimulated economic activity and employment opportunities. President Noboa noted: “That is how we work together for everyone’s benefit. In this way we also fight crime and poverty, restore dignity, and support families.”
