Buying a property is not an easy task, it requires a lot of attention, a lot of bureaucracy and the cost is high. Since most people do not have the full amount available to pay cash, the most commonly used method is real estate financing.
The stability registered in the Brazilian economy in the last decades, when compared to the 1980s, also favored access to real estate credit, allowing even lower portions and that fit in the population’s budget.
Interest on these installments has also fallen. With this, taking on a debt of 35 years to acquire the house itself became possible and very common among the workers. This new dynamic also boosted the sector as a whole.
The construction companies invested in the construction of new buildings, the real estate companies began to sell more units than rent, and the banks began to provide more loans and financing aimed at the purchase of real estate.
However, before signing a contract, it is good to be aware of the experts’ recommendations. Check out!
Compare offers and conditions
A funding can take three decades to be taken away. During this time, you can even change banks. But it is advisable that from the outset, when hiring a loan, you research and do simulations in public and private institutions.
Caixa Econômica Federal is one of the most traditional banks in this operation, although it may not always be the best option for the desired property. If the house or apartment is located in a city or state other than your current home, for example, it gets more complicated.
Always compare interest rates and how much the property will cost in the end. Sometimes the values of the first installments also deceive, it is necessary to keep track of the long-term debt estimate. In some simulations you will find that the final price can vary up to 30% from one bank to another!
In most banks, the minimum age to take on real estate financing is 18 years. The last installment can also only be paid up to 80 years. Therefore, the calculation to release a financing is directly related to the total value of the debt, the number of installments, the value of each installment and the age of the holder. The older the person, the smaller the maximum number of parcels and, consequently, the greater the value of each.
In addition to age, banks assess their good-paying profile – the credit profile. If it has the dirty name in the square, it will be practically impossible to obtain a financing. So before you start thinking about getting a real estate loan, check out the SPC and Serasa websites to see if your CPF is released.
The amount that will be given as credit also depends on an assessment of the bank itself that is willing to finance it. Therefore, the technicians will visit the property to verify if the sale value is compatible with the amount requested to the interested party to buy it and what is the most appropriate type of financing.
Documents and contract
After evaluating the property, the buyer must deliver a series of documents to the bank, which will do the verification and validation. Then the two parties sign the agreement and the debt is acquired to be paid in up to 35 years.