Financing a property through the Minha Casa Minha Vida (MCMV) program in 2024 can be an excellent opportunity for those who dream of owning their own home. With a budget of R$13.7 billion for this year, the federal government has renewed its commitment to helping Brazilian families achieve this goal.
So, if you are thinking about taking this chance, here are some crucial steps and helpful tips to guide you through the process.
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Finance a property through My Home My Life
First, it is essential to check whether you meet the program requirements. MCMV categorizes candidates into three income brackets:
- Up to R$ 2,640.00 (Range 1);
- Between R$ 2,640.01 and R$ 4,400.00 (Range 2);
- Between R$ 4,400.01 and R$ 8,000.00 (Range 3)
With this in mind, the next step is choosing the property, and you can opt for developments in partnership with construction companies or for existing properties available in your region.
Next, you will need to simulate the financing. This can be done through the “Habitação Caixa” app or on the Caixa Econômica Federal website. Here, you must provide information such as the type of property, approximate value, city where it is located, and your personal data, such as monthly gross family income and CPF. The simulation will help you get an idea of the installments and payment conditions.
Important documents
After the simulation, you need to gather the necessary documentation, such as:
- ID;
- CPF;
- Proof of income and residence;
- Bank statements;
- Income Tax Declaration.
With all the documents in hand, submit yourself to a credit analysis at the financial institution. This step is crucial, as it will assess your payment capacity and credit history.
Signing of the contract
Once your loan is approved, you will sign the financing contract. Therefore, it is essential to read all the clauses carefully. After that, payments will begin. The installments will be defined according to the conditions established in the contract. Keeping up with payments is essential to avoid interest, extra charges and the possible loss of the property.
Image: Tomaz Silva/Agência Brasil
