Owning a home is quite difficult for most low-income families. As my home, my life, you get more facilities when doing this. Owning a property requires a lot of patience, planning and money, as well as a little luck.
This is because it is necessary to deal with a lot of bureaucracy, in addition to the payment terms, depending on which company you choose, you can end up charging very high interest rates. This leads many Brazilians not to look for residences or to give up right at the beginning.
However, with the government program, hundreds of families are able to finance their own home with more attractive conditions for their pockets. If you want to know more details, follow the article below!
How does My home my life work?
O My home, my life is a government initiative that provides several more reasonable conditions to finance real estate. These villas are for families with a gross household income of up to R$7,000.00 per month.
The program has partnerships with several states and has been transforming the lives of thousands of Brazilian families. It is a great chance for low-income families and also contributes to the development of the country.
It is important to remember that since August 2020, financing operations contracted with FGTS resources are part of the Casa Verde e Amarela Program, in accordance with Law No. 14,118/2021.
What are the main advantages of the program?
O My home, my life it is the ideal program for families that do not have the income to make use of expressive financing. The program aims to make it easier for you and your family to pay the payments and thus have your own home.
Below are some of the main advantages of this initiative:
- You have different financing conditions according to your income bracket. You can take advantage of discounts and rates according to your family's income and location of the property;
- Can finance the purchase of new property or even the construction and renovation of housing in urban areas, which can be very important for the future of the family;
- It has specific service locations, it all depends on each type of financing;
- It uses the Caixa de Olho naQualidade program, which mediates and facilitates the relationship between builders and customers, to assist in situations where the property has construction defects.
Who can participate in Minha casa minha vida?
Many people still have doubts about the adherence of this type of program. In this modality of My home, my life, which is directed to the urban housing, the following family groups may participate:
- Families whose income is up to R$1,800.00:
Where you have financing of up to 120 months, and installments that can vary from 80.00 to 270.00 reais depending on family income. The financing guarantee is the property that will be acquired. That way, it's much easier to fulfill the dream of having your own home.
- Families where income is up to R$7,000.00:
For families with this gross income, operations with FGTS resources are now part of the Casa Verde Amarela Program, which offers differentiated interest rates in relation to the market. So you have more ways to conquer your own home.
How to hire this federal government initiative?
If you are interested in the program, it is important to know how to get started. Check below what must be done to participate in the My home, my life for urban housing. If your family has an income of up to R$1,800.00, you must register with your city hall or an entity to start the selection process.
As for families with a monthly income of up to R$7,000.00, in addition to being able to hire through an entity, it is also possible to hire individually, for that you just need to do the simulation on the website, to find out how much you can invest.
After that, Caixa evaluates your registration. Families who are selected by city halls and validated by Caixa are informed about the day the units will be drawn and the day to sign the home purchase and sale contract.
If you opted for direct service at a physical branch, Caixa receives and analyzes your documents and the documentation of the house you chose and presents the best financing conditions. After approval and validation of the registration, you sign the financing contract.
Thoughts on My Home My Life
Having your own property can take many years and lead to several debts if you have financial problems or choose a loan that is larger than you can afford. Therefore, the My home, my life was created to facilitate the way of paying for your own home.
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