Own home with an installment of ONLY R$80.00? Find out everything!

Brazilians who dream of owning their own home and are looking for help to make the purchase can now celebrate. The news from the government, in this sense, is encouraging.

The Ministry of Cities recently announced great news for those Brazilians who dream of owning their own home through the Minha Casa Minha Vida program.

With significant changes in bands 1 and 2 of the program in question, it is now possible to have installments of just R$80, considerably facilitating access to housing for many Brazilian families.

This announcement represents an important change in the country’s housing policies, promising to make the dream of owning a home a reality for a greater number of citizens. The salary ranges linked to it, among other information, are below.

Government incentives for purchasing your own home continue to grow | Image: @jeanedeoliveirafotografia / pronatec.pro.br

The New Homeownership Installment Scheme

The changes introduced by the government aim to adjust the Minha Casa Minha Vida program to make it more accessible.

Therefore, families with incomes of up to R$1,320 can now contribute up to 10% of this amount, resulting in minimum installments of R$80. For those with incomes between R$1,320 and R$4,400, installments will be limited to 15 % of income, with an additional discount of R$66.

This means, therefore, that the installments adjust to the families’ ability to pay, making financing their own home less expensive.

Even greater assistance from the government

One of the main changes announced, in this sense, is that the Federal Government, through the Residential Leasing and Social Development Funds of the National Urban Housing Program, now subsidizes a part of the total value of the property.

This leaves a smaller remaining balance to be financed by family income groups, especially for urban housing.

This is a strategy that is also applied to rural modalities and non-profit entities, with up to 10% of the total housing units contracted by the program benefiting from the new conditions.

Expectations in this regard for the year 2024

With the new rules, the scenario for the course of 2024 is really promising. The government projects the contracting of no less than 187 thousand units by the end of February for families with incomes of up to R$2,640.

Furthermore, the innovation of the so-called FGTS Futuro will allow workers to use future credits from the fund to pay part of the installments or amortize housing financing, focusing on serving low-income informal workers.

The Ministry of Cities also seeks to expand agreements with states and municipalities to increase housing subsidies and reduce the amount to be financed when purchasing a home, especially in range 1.

There are already partnerships with states such as Mato Grosso, and conversations are underway with the states of Pará and Maranhão.

An ambitious goal

The goal is to contract two million works by the year 2026, with priority for lower-income families, aiming to reduce the housing deficit of six million homes in Brazil.

All of these changes represent a truly significant advance in Brazil’s housing policies, with the potential to facilitate access to home ownership for millions of Brazilians.

It is expected that the changes to the Minha Casa Minha Vida program will bring a lasting positive impact on society, contributing to the reduction of the housing deficit and promoting social inclusion through decent housing.

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