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A home equity loan is a type of credit that uses the applicant's property as collateral for payment. This option is an alternative for those who need a higher amount and cannot afford the installments if they are unable to pay.
Bradesco offers loans secured by real estate to individuals and legal entities. The maximum loan amount is 60% of the property value, with rates starting at 1,39% per month.
In this post, we will talk about the home equity loan offered by Bradesco. We will cover the amounts, fees, requirements, how to apply and everything you need to know about this type of credit.
Values and rates
The maximum value of a loan secured by a property from Bradesco is 80% of the property value. Interest rates vary according to the customer's profile and the loan term.
For individuals, rates start at 1.39% per month. For legal entities, rates start at 1.79% per month.
Deadlines
The term of a loan secured by a property from Bradesco varies from 1 to 20 years.
Requirements
To apply for a loan secured by a property from Bradesco, the customer must meet the following requirements:
- Be over 18 years old;
- Have proven monthly income;
- Own a property that has been paid off or has financing up to date;
- Have no restrictions on the name.
Documents
To apply for a loan secured by a property from Bradesco, the customer must present the following documents:
- ID and CPF;
- Proof of income;
- Certificate of property clearance;
- Certificate of no debts with the IPTU and condominium.
How to apply
The Bradesco property-secured loan can be requested in person, at a bank branch, or digitally, at website or in the Bradesco app.
To apply for the loan in person, the customer must go to a Bradesco branch with the necessary documents.
To apply for the loan digitally, the customer must do a simulation on the Bradesco website or app. After approval, the customer must sign the contract digitally.
Advantages
Bradesco's property-backed loan offers the following advantages:
- Higher value than personal loan;
- Lower interest rates than personal loans;
- Longer payment term.
Disadvantages
Bradesco's property-secured loan has the following disadvantages:
- The property remains alienated to the bank until the loan is fully paid;
- In case of default, the bank can seize the property.
Conclusion
THE Bradesco property-secured loan It is an option for those who need a higher amount and cannot afford the installments if they are unable to pay. It is important to compare offers from different banks before applying for the loan.
