Advertisements
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.
BTG Pactual offers home equity loans to individuals and businesses. The maximum loan amount is 60% of the property value, with rates starting at 1,29% per month.
Values and rates
The maximum loan amount secured by BTG Pactual's property is 80% of the property's value. Interest rates vary according to the client's profile and the loan term.
For individuals, rates start at 1.29% per month. For legal entities, rates start at 1.79% per month.
Advertisements
Deadlines
The term of a BTG Pactual property-secured loan ranges from 1 to 15 years.
Requirements
To apply for a BTG Pactual property-secured loan, the client 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 BTG Pactual property-secured loan, the client 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
BTG Pactual's property-secured loan can be requested in person at a BTG Pactual branch, or digitally on the BTG Pactual website or app.
To apply for a loan in person, the customer must go to a BTG Pactual branch with the necessary documents.
To apply for a loan digitally, the customer must run a simulation on the BTG Pactual website or app. After approval, the customer must digitally sign the contract.
Advantages
BTG Pactual's home equity loan offers the following benefits:
- Higher value than personal loan;
- Lower interest rates than personal loans;
- Longer payment term.
Disadvantages
BTG Pactual's property-backed 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
BTG Pactual's home equity loan is an option for those who need a higher loan amount and can't afford the installments if they can't repay. It's important to compare offers from different banks before applying for a loan.
