Minha Casa Minha Vida: learn about the financing program
With Minha Casa Minha Vida, you can have the chance to own your own home. See how it works here!
Having your own home is a dream for many people, but it often seems distant due to financial difficulties, right? However, the My home, my life It can give you the chance to make that dream come true.
Through this program, it is possible to purchase a house with installments that really fit your pocket and special payment conditions. And do you know the best? Registration generally remains open throughout the year.
Minha Casa Minha Vida has already transformed the lives of thousands of Brazilian families and yours could be next. To do this, check out this article, what it is, how the program works and other important information.
What is Minha Casa Minha Vida?
O My home, my life is a housing program created by the federal government in 2009, with the aim of reducing the housing deficit in Brazil.
Its objective is to offer special payment conditions for purchasing a home, especially for low-income families.
The program is a partnership between the government, states, municipalities and the private sector, which seeks to provide decent housing for millions of Brazilians.
How does the Minha Casa Minha Vida program work?
Minha Casa Minha Vida can represent a unique opportunity for those who want to get out of rent and own their own home with installments that fit their pocket.
Want to better understand how this program works? So, check out the main details below.
Program income ranges
Minha Casa Minha Vida works through subsidies and financing facilities, which vary according to family income.
Therefore, the program is divided into income ranges and each of them has specific financing conditions.
Firstly, in the urban area, the lanes are divided as follows:
- Band 1: gross monthly family income up to R$ 2,640;
- Band 2: gross monthly family income from R$ 2,640.01 to R$ 4,400;
- Band 3: gross monthly household income from R$ 4,400.01 to R$ 8,000.
Meanwhile, in the case of families living in rural areas, the bands are divided as follows:
- Band 1: gross annual household income up to R$ 31,680;
- Band 2: gross annual family income from R$ 31,680.01 to R$ 52,800 thousand;
- Band 3: gross annual household income from R$ 52,800.01 to R$ 96,000 thousand.
Furthermore, it is worth remembering that families in band 1 can have access to popular housing built by the program.
Meanwhile, other groups may have access to special conditions when financing a new home or carrying out renovations to their home.
Affordable installments
Furthermore, another feature of the program is that the installments are adjusted to the family's income.
Therefore, it becomes an affordable alternative, as it offers installments that can be paid without compromising the family budget.
Low interest
The interest rates applied to the program are usually much lower than those charged in the real estate market, making payment of the financing even easier.
Just to illustrate, depending on the income range and region, it is possible to pay rates from 4%, much lower than the rates that can be charged for traditional real estate financing.
Access expansion
Since its last updates, the program also seeks to include families who were previously unable to prove formal income, such as self-employed workers.
Furthermore, it also seeks to include families who are homeless as a priority. This means that those who really need it have the chance to have decent housing.
How do I sign up for Minha Casa Minha Vida?
As you saw above, the program My home, my life aims to allow Brazilians to realize their dream of owning their own home with easy payment conditions.
This is possible thanks to low interest rates, affordable monthly fees and other features of the program. But after all, How registrations work of Minha Casa Minha Vida?
It is important to note that registrations vary according to the track. For band 1, for example, you need to look for a construction company, fill out the registration form and send it.
In brackets 2 and 3, you need to look for a Caixa Econômica branch, choose the property, carry out the simulation and submit the requested documentation. Or, carry out the simulation on Caixa's website and continue with the other steps.
