The Minha Casa Minha Vida program was created in 2009 during the second term of current president Luiz Inácio Lula da Silva. The goal of the program is to grant families the right to own their own home.
Since its creation, more than 6 million housing units have been delivered and the expectation is that by 2026 more than 2 million homes will be delivered.
In July of this year, new rules were established for this program. Check out some of them:
Main changes to the new My Home My Life
See below the main changes to the housing program:
Income Range
The new feature is that gross income has been increased for both beneficiaries with Federal Government property and those who will take out financing.
- Band 1 includes those with a gross monthly income of up to R$2,640.00;
- Band 2 serves families with income between R$2,640.01 and R$4,400.00;
- Band 3 for families with a monthly income between R$4,400.01 and R$8,000.00.
Property Value
The value of the property has changed. Therefore, the value is determined according to the location and the income bracket for which it is intended.
For projects that are subsidized in Band 1, the maximum value of the property is R$$170,000.00. For those that are financed in bands 1 and 2, the value is up to R$$264,000.00. For band 3, which is also financed, the value increased to R$$350,000.00.
As for rural properties, the maximum value becomes R$75,000.00 for new homes, while for improvements to a home it becomes R$40,000.00.
Property Specifications in My Home My Life
With the new MCMV The properties will undergo improvements to ensure better quality housing for beneficiaries.
Now the complexes will have libraries and sports equipment, balconies in all units, the constructed area of the houses will be 40m² and 41.50 m² for the apartments and the location must be close to a consolidated area with access to public services such as health, education, social assistance, public transport and others.
Image: Tomaz Silva/ Agência Brasil
