This is a recurring question for all those who intend to finance their own home. Is it possible to finance 100% of your property? The answer is not the best, as financing 100% of a construction is practically impossible.
This was once a possible reality, but Caixa's financing rules, for example, which was one of the easiest ways to finance a property, were changed and today this percentage has dropped.
Maximum amount that can be financed
Today, the maximum you will be able to finance is 90% of the value of the desired property. Neither Caixa nor any other bank are releasing !00% of the value of the property for financing.
Therefore, keep in mind when doing a financing simulation that you will need to have an initial value. If your property is worth a total of R$1,400,000.00, you will have to pay at least R$1,400,000.00 to start your work.
It is also worth remembering that the release of 90% requires that a series of requirements be met, one of which is the amount of your income, so it is important to prepare yourself to perhaps have to make a little more money available to see your home start to become a reality.
How can I use the subsidy?
In Brazil today, people have gained the right to have the government contribute a certain amount when they decide to buy or build their own home.
This subsidy can be used to help pay your financing, but it cannot be used as a down payment to start your financing.
The subsidy “My house, my life” It is only released when the person proves that they are unable to pay the full value of the property, so the government grants this benefit, so that the installments and interest are lower, and the dream of owning a home becomes more possible.