The process of real estate financing for the purchase of your new apartment is complex. It is very common for people to have a number of doubts about this process and how it works. To try to clarify the situation a little, we separated some of the most common doubts and answered!
12 questions about real estate financing
Can I use my FGTS to finance a property, even if it is in another state?
Yea! In order for you to be able to use your FGTS, you need to fulfill the requirements: you must have at least three years of work under the FGTS regime (remembering that these periods do not have to be consecutive) and not have active financing in SFH, in anywhere in the country. Being within the characteristics we mentioned, you can apply for the benefit, even if it is to finance property in another state.
I cannot afford to buy the property. Can I finance 100% of the amount?
According to the denomination given by the Central Bank, the maximum that banks can finance is 90%. In other words, the buyer must have, at least, 10% of the value of the property in hand. An alternative is the use of the Minha Casa Minha Vida Program, which, depending on the range, manages to compose the minimum necessary for such financing, allowing it to be granted (this amount is up to R $ 25,000.00 per family, varying from conditions to conditions ).
I want to finance a property by Caixa, but I already have vehicle financing. Can I get through the credit card?
The credit risk system always conducts an investigation of the level of commitment of the proponents’ income. Therefore, they would be able to locate their vehicle financing. However, if it does not compromise your income, your letter of credit will be able to be released without major difficulties.
Payroll loan gets in the way of real estate financing?
The Caixa system searches for all the information of the bidders. To release the amount, they analyze the disposable income, that is, the gross income, as well as the commitments due to the payment of their debts. That way, your loan may or may not compromise your financing.
What is the amount of the monthly income commitment?
The committed portion cannot exceed 30% of your gross income, that is, the amount you receive each month after legal discounts. You can, for the purposes of proof, add rents and thus increase the value, for example, your income + that of your husband or wife.
Are self-employed or self-employed professionals getting real estate financing?
Yea! But before that it is necessary that they have their financial capacity calculated and duly proven. Each finance company makes the relevant requirements regarding supporting documentation.
What is the minimum amount for financing residential property?
The values of SFH properties can vary between R $ 15,000.00 and R $ 450,000.00, with interest rates at 12% per year. Outside the SFH system, any amount and interest rate is foreseen. However, some institutions end up demanding minimum amounts of benefits. With that, we can have some cases in which there is a financing of less than R $ 15,000.00.
What types of insurance are required in the real estate contract? They are cool?
Included in its monthly installment are DFI (Physical damage to property) and MIP (Death / permanent disability). According to the STF doctrine, such insurance is considered a married purchase and does not have legal support for its existence.
I received money, can I advance the payment of my financing?
Yea! This practice is called amortization. You can do it at any time, using your own money or even FGTS installments. This way you will be able to pay off the installment more smoothly and in less time.
How is the calculation of the adjustment of the debit balance made?
It is done in a very simple way: they are readjusted monthly, according to the Reference Rate, which is the same index used by the savings account.
For real estate financing, what are the guarantees that banks usually ask for?
Generally, fiduciary alienation is the one used. In this modality, the creditor (bank) takes indirect possession and you (debtor) takes direct possession. The finance company prefers this model because in case of non-payment, the restitution of the pose is much faster.
Can I have two loans at the same time?
Yes, you can do it! As long as you can prove that you can honor both financial commitments. The difference is that for the second financing you will not be able to use the FGTS.
Any questions? Write to us in the comments!