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The return of the Minha Casa, Minha Vida program, the Federal Government's home financing initiative, has brought about several changes. Therefore, as of last Friday, the 7th, the new rules came into effect.
If you, like many Brazilians, are excited about the chance to own your own home, you will be pleased to discover that the government, in partnership with Caixa Econômica Federal, has introduced considerable improvements that will benefit all three income levels of the program.
Among the main changes, the reduction in interest rates stands out, making financing more viable, especially for low-income families. In addition, the price range for purchasing properties through the program has also increased.
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This means that families can now choose more expensive properties, providing a greater variety of housing options within the Minha Casa, Minha Vida program.
But there’s more! So, to ensure you’re fully informed about the benefits offered and the criteria established, we’ve compiled all the necessary information here.
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This way, by understanding the program's new operations, you can plan and position yourself better to make this dream, shared by thousands of people, come true.
Rules for participation in My House, My Life
First of all, it is important to remember that, in addition to promoting social stimulus, the federal government hopes that the changes will reactivate the construction sector and promote job creation.
Read also: Exceptional Benefit Will Reach 20,000 Families; See if you are eligible
With this purpose, the goal is to complete the construction of 2 million properties by 2026, also including the resumption of works that were paralyzed.
Finally, the new guidelines for participation in Minha Casa, Minha Vida are divided into three income brackets, which comprise two modalities, each with its own specificities.
Thus, in the “Urban” category, Band 1 can have a monthly gross family income of up to R$1,640. For Band 2, the permitted monthly gross income ranges from R$1,640.01 to R$1,400. In Band 3, the permitted monthly gross income ranges from R$1,400.01 to R$1,400.
In the case of the “Rural” modality, families are also divided into three income brackets. However, in this case, the annual gross income is considered.
In Band 1, the family can have an annual gross income of up to R$$31,680. In Band 2, the permitted annual gross income ranges from R$$31,680.01 to R$$52,800. Finally, in Band 3, the annual gross income ranges from R$$52,800.01 to R$$96,000.
Notice:
With the recent changes to Minha Casa, Minha Vida, the maximum subsidy, which corresponds to the part of the financing paid by the government and can reduce or even eliminate the necessary down payment amount, was also updated.
Thus, it increased from R$47.5 thousand to R$55 thousand for families classified in bands 1 and 2 of the program.
Read also: Expanded benefits: property purchase program with FGTS will be increased;
Changes to My Home, My Life
As mentioned, there was a decrease in interest rates for bands 1 and 2 of Minha Casa, Minha Vida. It is important to highlight that, as before, the established percentage continues to vary according to the different regions of the country.
In the North and Northeast, the rate fell from 4.25% to 4% per year. Meanwhile, in the Southeast, South and Central-West regions, the rate went from 4.5% per year to 4.25%.
However, in band 3, there were no changes. In this modality, interest remains at a maximum of 8.16% per year.
For bands 1 and 2 of Minha Casa, Minha Vida, the maximum value of the properties varies according to the region of the country. In general, the limit for these bands is between R$190,000 and R$164,000.
This variation takes into account factors such as the cost of living and the real estate market in each location, seeking to ensure that families have access to housing that is in line with the economic reality of their regions.
On the other hand, for band 3, which covers families with a slightly higher income, the maximum property value increased to up to R$$350 thousand throughout Brazil.
This increase in the limit allows more families to have access to Minha Casa, Minha Vida and seek housing options at a slightly higher price level, but still affordable within their financial possibilities.
