Real estate credit: Cash to reduce interest on new and used real estate financing

Bank also extended the limit of financing of real estate used for individuals from the current 70% to 80% of the value of the property


24 August 2018, 15h04 – published on 24 August 2018, 14.15 hrs

São Paulo – A box reduced by a maximum of 0.5 percentage points interest I love real estate financing for transactions with money from the Brazilian savings and loan system (SBPE). The change started from this Friday (24).

The minimum percentages went from 9% per year to 8.75% per year for the financing of real estate within the Housing Finance System (SFH), which funds from the FGTS (Guarantee fund for working time).

In the property financing system (SFI) the interest rate of financing went from 10% per year to 9.5% per year.

The real estate of up to 950 thousand reais in the states of Rio de Janeiro, São Paulo, Minas Gerais and the Federal District can be financed by SFH and up to 800 thousand reais in the other states.

If the value of the real estate exceeds 950 thousand reais in the states SP, RJ, MG and DF, or more than 800 thousand reais in the other states, it is possible to finance via the SFI or mortgage portfolio.

In addition to the interest reduction, Caixa also extended the limit for the financing of property for private individuals from the current 70% to 80% of the value of the property. In theory, changing the limit requires that the customer makes a smaller purchase of the used property, making it easier to buy the house.

"Caixa is the most important financial housing agent to continue to offer the best rates and conditions for our customers, and to collaborate with the resumption of investment in the property market and production chains," says Caixa's president, Nelson Antônio. the Souza.

Minor rates

This was not the first time that Caixa reduced the interest on real estate financing in 2018. In April, the bank had reduced rates by a maximum of 1.25 percentage points for operations with SBPE funds.

Also at the beginning of the year Caixa had already increased the limit for the financing of used real estate from 50% to 70% of the value of the property. The bank also resumed the financing of activities of qualifying agent (real estate with production financed by other banks) to 70%.

SFH or SFI financing is an option for those who have not obtained credit through the pro-quota, which uses FGTS funds and is traditionally considered the cheapest on the market, suspended by Caixa and Banco do Brasil for new features .

Santander also offers the pro-shareholders line, but only for new and bank-funded properties, according to the EXAME website. The bank does not comment on the case.

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