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Recently, CAIXA Econômica Federal announced a new feature for housing financing that promises to change the lives of many Brazilian families. Thus, starting in April, applications for this type of credit will begin with the use of Future FGTS, which should make it easier for low-income people to achieve their dream of owning a home.
Therefore, with the possibility of using Future FGTS, families will be able to supplement their income when financing a property, taking on two contracts: an original one, with the amount under the traditional format, and another supplementary one with Future FGTS. See more details!
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Using FGTS to buy your own home
Initially, the Future FGTS option will cover only families with a monthly income of up to R$ 2,640, that is, those in Range 1 of the Minha Casa, Minha Vida program. Thus, these people will be able to use projections of the Severance Indemnity Fund (FGTS) as part of the property financing, whose contributions are made by employers.
However, one of the major concerns when taking out a home loan is the risk of unemployment. Therefore, aware of this, the FGTS Futuro program provides special conditions for dealing with such a situation.
The employer contribution of 8% of the salary is the basis of FGTS Futuro, and in the event of unemployment, while the borrower will not be able to withdraw the committed FGTS Futuro funds, they will have access to the 40% penalty in the event of dismissal without just cause. In addition, there will be possibilities for negotiation with Caixa, including suspending installment payments for up to six months.
Financing through Minha Casa, Minha Vida
Finally, the FGTS allocated a significant budget for new contracts within the Minha Casa, Minha Vida program, in addition to reserving additional funds for those who do not qualify for the program but have an account with the Fund.
With interest rates ranging from 4% to 8.16% per year and repayment terms of up to 35 years, Minha Casa, Minha Vida has established itself as one of the country's main public housing policies, now even more accessible with the inclusion of FGTS Futuro.
Image: Joédson Alves / Agência Brasil
