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Caixa Econômica Federal, manager of the Minha Casa Minha Vida housing program, recently announced several changes and expansions to the program.
Starting this Friday (7), Caixa will begin financing properties of up to R$350,000, a significant increase from the previous ceiling of R$264,000. Additionally, the interest rates offered are attractive and vary according to the household income and the region, being more competitive compared to other financing options on the market.
Affordable interest rates for various incomes and regions
Interest rates for property financing through the Minha Casa Minha Vida program are floating. Therefore, they depend on the household income and the location of the property. Thus, rates can range from 4% per year to 8,16% per year.
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35 years for financing: a favorable term
One of the advantages of the program is the maximum term of 35 years for the repayment of the financing. Therefore, this extended term offers greater adaptability for families, facilitating financial management and making the dream of owning a home more viable.
Benefits for FGTS shareholders
Additionally, employees who have an account linked to the Severance Pay Guarantee Fund (FGTS) for at least three years are entitled to financing with even more attractive interest rates. This action benefits fund shareholders, reducing the amount of interest and making financing more advantageous for this group.
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Simulations and easy access for interested parties
Caixa offers the option to perform financing simulations on its online platform. This allows interested parties to have a forecast of the program's values and conditions. In addition, the Caixa Housing app, available for iOS and Android devices, also provides quick and simple access to information about Minha Casa Minha Vida.
New property value limits
However, the value limits for financed properties vary according to the family's income. According to the recent changes, families in Bands 1 and 2 of the program now have a value limit for properties that ranges from R$190,000 to R$264,000, depending on the location.
Beneficiaries of Band 3 have the possibility of acquiring properties with a maximum sale or investment value of R$350,000, expanding the options for this income bracket.
Incentive for the construction of new housing
The government's goal, through the Minha Casa Minha Vida program, is to deliver two million new homes to the low-income population by the end of 2026. This goal seeks to provide adequate and affordable housing for those most in need.
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To achieve this goal, Caixa is accepting proposals from companies in the construction sector and public entities interested in building properties through the program. These entities may be composed of cooperatives, associations and other structured bodies.
Process of evaluating and resuming halted works
In short, Caixa will analyze the documentation submitted by companies interested in building properties through Minha Casa Minha Vida. Subsequently, an inspection of the land will be carried out and, if everything is in order, the project will be forwarded to the Ministry of Cities for publication of the classification ordinance.
Therefore, with the changes announced, Caixa Econômica Federal seeks to increase the chances of access to decent housing for the low-income population. Since the increase in the financing limit, attractive interest rates and the request for proposals for the construction of new housing are important actions to stimulate the program.
