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Caixa Financing: the dream of owning your own home may be closer than you think. Read the text and learn more about this service.
According to POF, a family budget survey carried out by IBGE, at least 17% of Brazilian households pay rent.
Certainly, the dream of owning a home is a desire of all these Brazilians, however, they find it difficult to achieve it.
When you pay rent, this dream becomes even harder to achieve. This is because the cost of rent weighs on your budget.
Now, imagine, instead of paying rent, you pay the installments of something that is yours. In fact, this is possible.
Want to know how?
Read our text until the end and find out how it works. Caixa financing. See our index below:
- What is financing?
- What is the difference between a loan and financing;
- How Caixa financing works;
- How to hire;
- Conclusion.
What is financing?
Financing is a financial service where a financial institution provides an amount for someone to pay for something.
Therefore, it is as if the financing party assumed the debt, then the party that acquired the item pays the debt to the financier with better conditions.
For example, you need to buy a house, but you don't have the money to pay for it up front.
So, someone pays the homeowner the full value of the property, and you pay off the debt in installments to whoever provided the money.
What is the difference between a loan and financing?
In financing, the financier pays the amount to the owner of the asset that will be acquired, and not to the applicant, that is, the person who will purchase the item, in this case, the new owner.
However, in the case of a loan, the money goes to the person who made the request and can use it as they wish.
Furthermore, the financing is intended for a specific purpose, for example, study, house, car.
In the case of CAIXA financing, it is intended for the purchase of a property or vehicle.
In addition, the conditions for contracting and paying for financing differ from those for a loan.
How does Caixa financing work?
This financing is used to purchase a new or used property, which can be a house or apartment.
In addition, it can be used to purchase land or building materials.
This type of financial service is also known as housing credit line. It can be paid in installments over up to 35 years.
Certainly enough time for you to pay off your house. Now, can you imagine spending 35 years paying rent?
The financing installment can compromise up to 30% of your gross family income and you can use your FGTS, if you prefer, as part of the payment.
If your Caixa financing is approved, you can choose the asset, but it must meet certain requirements, for example, have up-to-date documentation.
Caixa evaluates the chosen asset and the payment conditions, and depending on the type of financing, you can use the grace period to start paying off your outstanding balance.
During the grace period, you will only pay:
- Monthly contract administration fee (for hiring in SFH);
- MIP and DFI insurance premiums.
There are 4 options Caixa financing, being them:
New or used property
Purchase your new or used property, with Caixa financing up to 90% of the value of the new property.
Construction
With this financing, you can purchase land or build your property.
Vehicle
Although it is more focused on housing credit, Caixa also provides financing for the purchase of a car or motorcycle.
Commercial property
Need financing to renovate, buy or build your company? With Caixa financing you can!
Public Housing
With this option, low-income families can obtain financing to purchase, renovate or build a property more easily and with special conditions.
How to get financing?
First, go to the Caixa website and make a simulation for financing.
In this first step, you will provide your details and find out the value of the service, term and other conditions.
Next, you will go through a credit and documentation analysis. This step is done at the agency.
With your documents, Caixa will be able to assess the possibility of using your FGTS as Prohibited and what financing model is best for you.
The third stage is called engineering analysis, where Caixa goes to the chosen property to assess the sale value and the property's conditions.
After this assessment, if everything is in order, the contract is signed at the agency. It will be necessary to register the contract at the property registry office for the credit to be released.
Finally, after the credit is released, you start paying the installments, but now, for something that will be yours.
Conclusion
Making your dream of owning your own home come true is possible with Caixa financing.
Even if you don't have a high income, Caixa has special conditions for low-income families.
Therefore, make a family financial plan and go to a Caixa branch to talk to a manager about this financing.
Finally, you might like to know what the loan amount for retirees. Read our text!
