Want to finance your home? Find out now how to finance 100% of a property and 5 essential tips to get approved in the credit analysis!
Advertisements
If you've come across this reading, you probably have two interests in mind: finance your own home or help someone make that dream come true.
Even with the high interest rate, having a little corner In short, the financing Home ownership is a procedure for purchasing a property when the consumer is unable to pay for everything at once. Owning a home is still a priority for many.
Indeed, according to a survey published in Uol, more than 13 million families intend to buy a property within 2 years.
Shall we clarify all your doubts?
- What is home financing and how does it work?
- How to finance 100% of a property?
- How does Caixa financing work?
- How does Bradesco Real Estate Financing work?
- Is Santander real estate financing advantageous?
- How does Banco do Brasil housing finance work?
- 5 Tips for getting your home loan approved!
What is home financing and how does it work?
In short, home financing is a procedure for purchasing a property when the consumer is unable to pay for it all at once.
In this case, the finance company acts as an intermediary and pays the seller in cash. Meanwhile, the buyer pays the amount monthly in affordable installments.
How to finance 100% of a property?
Rightly so, one of our readers' main questions is whether they have how to finance 100% of a property. But is this possibility really possible?
Well, the answer to this question is yes!
As a rule, the maximum value of housing financing is 80%. However, in certain programs, the Federal Government transfers the remaining 20% as a subsidy.
Is there a bank that finances the purchase of a 100% property?
To date, the bank that offers 100% financing for the purchase of a property is Caixa Econômica Federal.
In this case, the Federal Government grants a subsidy of part of the value of the property to families with a monthly income of up to R$1,800. In this way, the government passes on the “missing money” and the consumer is freed from the down payment.
| Monthly Income | Subsidy released by the Government |
| Up to R$1,000.00 | Up to R$47.5 THOUSAND |
| Up to R$1,000.00 | Up to R$29 THOUSAND |
How does Caixa financing work?
Certainly, when we think about housing finance, the first word that comes to mind is Caixa financing. Isn't that true?
Initially, Caixa has one of the largest lines of Real Estate Credit in Brazil, for new or used properties.
Payment terms are up to 35 months and there are some extremely important criteria that you need to know, such as:
What is the minimum income to finance a property through Caixa?
First of all, you should know that there is no minimum income to finance a property through Caixa.
In fact, what happens is a requirement from the bank, as the financing installments cannot exceed more than 30% of the family's gross income.
Let's say, for example, that your gross income is R$1,500.00. In this case, your monthly home payment cannot exceed R$1,500.00.
How much does Caixa finance a property?
Another important piece of information to help you make your dream come true is how much Caixa finances a property.
In general, for new constructions, Caixa finances up to 90% of the property and allows up to 35 years to pay off the debt.
On the other hand, if your intention is to finance a used property, the amount currently released is 50%.
Caixa Financing for used property: how does it work?
To purchase a used property from Caixa, the consumer has exclusive credit for the specialty.
And, just like when financing a new property, there is the possibility of using the FGTS balance.
The procedure is carried out by the Housing Finance System, using the fiduciary alienation as collateral. The payment term is up to 35 years.
Other Caixa housing finance options
Land purchase and construction
If you want to have your own home, Caixa provides credit for the purchase of land, together with the construction of the property.
Or just in the construction of a property for consumers who already have their own land.
In this case, financing is provided by the Housing Finance System, and is guaranteed by fiduciary alienation.
My House My Life (My Green and Yellow House)
In fact, the Federal Government program is one of the main factors driving the number of Brazilians who own their own homes, mentioned at the beginning of this article.
The Minha Casa Verde e Amarela Program is an opportunity for low-income Brazilians. There is also the option of urban and rural financing.
Furthermore, interest rates, terms and other payment conditions vary according to each customer's family income.
How to use the Caixa Financing Simulator
Initially, if you identified with this financial institution, then take the opportunity to simulate.
The first step for the consumer to start financing a home is through Cashier Simulator.
To do this, access the official Caixa website and look for the “Housing Financing” – “Simulate” option.
Then, provide your details, such as property value, location and other personal information.
Finally, you have access to the result and can print it and take it to an agency whenever you want to start the procedure.
How does Bradesco real estate financing work?
Bradesco real estate financing is an option for financing your home, without bureaucracy.
The institution covers up to 80% of the financed amount and it does not matter whether the property is new or used.
Furthermore, the installments fit all types of budgets, as they start at R$$200.00 and can be paid over up to 30 years.
Important details about Bradesco home financing
✅ Credit Line Used: Housing Finance System;
✅ Financing of new or used properties;
✅ Monthly payments starting at R$200.00 (as long as it does not compromise more than R$30% of income);
✅ Use of FGTS authorized;
✅ The consumer can use the Constant Amortization System or the Price Table;
✅ Payment updated according to the monthly basic savings remuneration index;
✅ Interest rate of 2.99% per year plus savings remuneration.
How to apply for Bradesco home financing?
The first step to hiring is to simulate home financing at Bradesco, through the platform.
Select the value of your property, the terms you wish to pay and send your proposal.
Then, just wait for the credit analysis and with a positive response, simply validate your credit!
Go to an agency with the requested documents to start the hiring process.
With everything in order, the next step is to carry out the property evaluation. At this stage you need to have the following documents on hand:
- Copy of the full certificate of registration from the Real Estate Registry Office;
- IPTU Payment Slip Cover;
- Property appraisal request form completed at the Agency.
Credit approved, property approved, now the next step to getting your own home through Bradesco home financing is to sign the contract.
In addition, carry out the following formalities: Registration at the Real Estate Registry Office and the payment of the Tax on the Transfer of Goods and Real Estate.
Finally, just hand over these papers to the Agency, so that the bank can release the amount into the property owner's account.
Santander Real Estate Financing, is it advantageous?
Did you know that at Santander you can finance a property online?
The institution finances up to 80% of a property, with rates of 8.99% per year + TR.
One of the differences compared to other banks is the fast and online procedure. After all, the consumer does everything online and has the credit approval response within 24 hours.
Important Details about Santander Home Financing
✅ Term of up to 35 years to pay;
✅ Possibility of sharing income with someone outside the family group;
✅ Installments with PRICE or SAC Amortization system;
✅ Possibility of using FGTS in properties worth up to R$1.5 million;
✅ Financing of notary expenses after signing the contract;
✅ Online membership.
How to hire Santander Real Estate Financing?
1 – First, access the financial institution’s platform and execute the simulation. After entering the information, the bank automatically performs a credit analysis.
2 – The second step is to register and send the requested documents.
3 – Then, follow the analysis of the document and the evaluation of the property you wish to finance.
4 – With everything in order, the fourth step of the procedure is to go to a physical agency to sign the contract financing your own home.
5 – The last step of the procedure is to release the credit to the property seller. Then, just take advantage of this opportunity to speed up your move and decorate your home!
How does Banco do Brasil Housing Financing work?
At first glance, Banco do Brasil finances up to 80% of properties with a value of up to R$5 million.
And this applies to both residential properties and commercial establishments.
Just like at Santander, hiring is done online, and you only need to go to the branch to sign the contract.
In fact, one of the positive and differentiating points is also the payment term.
Important details about Banco do Brasil home financing
✅ Financing of up to 80% of the property value;
✅ Up to 420 months to pay off the debt;
✅ First installment only after 6 months;
✅ Attractive interest rates;
✅ Advice from experts in real estate credit.
How do I get a home loan from Banco do Brasil?
BB customers have the option of taking out financing directly via their cell phone. Watch an explanatory video from the Banco do Brasil agency ⤵️ ⤵️ ⤵️
5 Tips for getting your home loan approved
First of all, to have your home financing approved, it is important that you put the following tips into practice.
This way, the procedure becomes faster and the chances of having your real estate credit approved in a short time are much higher.
Take care of your CPF
The first tip, and the first step to put into practice, is to check your CPF. Check with credit bureaus to see if there are any old debts in your name.
Also take the opportunity to check your CPF with the Federal Revenue Service, see if there are any irregularities.
Open an account at the bank where you intend to finance your property
A golden tip for having your home financing approved is to open a current account at the bank where you intend to finance the property.
And, most importantly, develop a good relationship with the bank. Use your credit card, make frequent transactions, investments and other financial products available for your profile.
This way, the bank can have more information about your financial life, which means that the release and approval of the mortgage loan happens quickly.
Don't be informal
Did you know that self-employed professionals can also have their home financing released?
A way to get approval and move from the “self-employed” level to MEI (Individual Microentrepreneur).
Activate the Positive Registry
In fact, the Positive Registry becomes a major turning point when it comes to having credit approved.
And, this is no different when we approach the subject of home financing!
After all, by recording payment records, consumers can easily build a reputation as “good payers.” However, to do this, they need to be part of the program.
Gather all the necessary documents in your hands
Finally, arrange the necessary documents in advance to finance your property.
In general, institutions request the following papers:
- ID and CPF;
- Proof of Income;
- Proof of Residence;
- Work Card;
- Income Tax Declaration;
- Proof of Marital Status.
Conclusion
In conclusion, according to the data presented, we saw that home financing is not a complicated procedure as many people think.
Of course, you will need numerous documents, declarations, registry entries, etc. One way to speed this up is to get informed and gather the necessary paperwork for hiring in advance.
Furthermore, if you are interested in financing 100% of a property, the best option is to look for Caixa Econômica Federal.
Or, close a contract with construction companies that are part of the Federal Government's Minha Casa Verde Amarela Program.
Want to know more about this financial institution? Then click the button below and discover the Caixa's main financial products!
