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Improvements and changes to the financing rules have transformed the Minha Casa, Minha Vida housing program. Find out more right now.
The Minha Casa, Minha Vida program is about to undergo significant changes, as the Senate approved Provisional Measure (MP) 1.162/2023. Now, this MP, which was approved shortly before its deadline expired, is awaiting the approval of president Luiz Inácio Lula da Silva to become law.
The idea is to revitalize the program through the MP, prioritizing low-income families and establishing new parameters for housing financing.
Prioritizing low-income families
The MP proposes that the focus of the Minha Casa, Minha Vida program be on families in Group 1, whose gross monthly income is up to R$ 2,640 in urban areas and whose annual income is up to R$ 31,680 in rural areas.
The government's goal is to contract 2 million construction projects by 2026, with the aim of ensuring decent housing for the neediest families.
Program expansion and new criteria
With the approved MP, the Minha Casa, Minha Vida program will expand its scope. Therefore, it will now serve families with a monthly income of up to R$ 8 thousand in urban areas and up to R$ 96 thousand annually in rural areas.
This measure also aims to benefit middle-class families, following President Lula's guidance, who emphasized the need to offer housing opportunities to those earning up to R$ 12 thousand.
Diversification of financial institutions
The MP introduces an important change by allowing private and digital banks, as well as credit unions, to participate in the program. Previously, only Caixa Econômica Federal had this exclusivity.
However, these new entities will be required to provide information about transactions to the Ministry of Cities, identifying the recipient of the credit.
