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The Federal Government recently announced a significant change to the Minha Casa Minha Vida housing program. Now, with the aim of facilitating hiring and stimulating demand for housing, Brazilians have the possibility of purchasing their own property with a maximum value of R$$ 350 thousand, paying installments of less than R$$ 500.
To allow this, the government raised the program's financing limit, previously R$264,000 to R$350,000 now. In locations such as the capital of São Paulo, this change represents an increase of R$761,000 in demand for housing.
It is important to emphasize that bracket 3 of the Minha Casa Minha Vida program, the highest among the existing categories, is where the new ceiling of R$350,000 applies. This category includes people with higher incomes, up to R$8,000. The increase in the maximum value of financed properties has two direct consequences in relation to the demand for financing.
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Firstly, the measure will allow more families to benefit from the program, since the increase in value makes it easier to purchase properties that are more suited to their needs. Secondly, paying installments of less than R$1,500 makes financing more accessible, enabling more people to realize their dream of owning their own home.
The Federal Government's initiative, in addition to encouraging the real estate sector, aims to reduce the housing deficit in the country. The expectation is that the increase in the financing ceiling will result in a greater supply of adequate and affordable housing, thus improving the quality of life and promoting the social inclusion of thousands of Brazilians.
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Understand the income brackets of My House My Life
The Minha Casa Minha Vida program aims to serve families of different income brackets, both in urban and rural areas. Eligibility is based on the family's monthly or annual gross income, depending on the case. Urban families fall into the following income brackets:
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- Band 1: Gross monthly family income of up to R$ 2,640;
- Band 2: Gross monthly family income between R$ 2,640.01 and R$ 4,400;
- Band 3: Gross monthly family income between R$ 4,400.01 and R$ 8,000.
In the case of rural families, the income ranges are:
- Band 1: Annual gross family income of up to R$ 31,680;
- Band 2: Annual gross family income between R$ 31,680.01 and R$ 52,800;
- Band 3: Annual gross family income between R$ 52,800.01 and R$ 96,000.
These criteria determine the income brackets for which the Minha Casa Minha Vida program offers subsidies and financing. It is worth remembering that these brackets may change according to government policies and guidelines.
Band 1 will benefit the most from the government
The government announced the reservation of 50% of the program's units for families in band 1. This measure aims to directly benefit lower-income families, providing them with access to their own housing.
It is important to note that the calculation of income brackets does not consider temporary, welfare or social security benefits, such as sick pay, unemployment insurance, Continuous Benefit Payment (BPC) and Bolsa Família. More information about Minha Casa Minha Vida can be accessed on the official channels of the Ministry of Cities.
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