Starting this Monday (3), families with a monthly income of up to R$9,600 will be able to finance home or apartment renovations with reduced interest. Caixa Econômica Federal began hiring for the Reforma Casa Brasil Program, an initiative that offers credit for renovating and expanding homes across the country.
The program is part of Minha Casa, Minha Vida (MCMV) and provides for the allocation of R$30 billion from the Social Fund to families within this income range. Access and simulation of financing conditions can be done directly by Caixa website.
Families with incomes above R$9,600 per month will have access to another line of credit for home renovation, with resources from the Brazilian Savings and Loan System (SBPE).
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How it works
The program is divided into two income brackets:
- Reform Band 1: families with income of up to R$3,200;
- Reform Band 2: families with income between R$3,200.01 and R$9.6 thousand.
Hiring can be initiated via the Caixa website. Completion occurs via Caixa appfor those who have an account at the bank, or at a branch, in the case of families with more than one income-earning member or who do not have an account.
Rates, deadlines and credit release
- Reform Band 1: interest of 1.17% per month, up to R$30 thousand in credit;
- Reform Band 2: interest of 1.95% per month, same limits and deadlines.
- Term: from 24 to 60 months, in both ranges
- The amount is released in two stages: 90% upon contracting and 10% after sending photos that prove the renovation was carried out, via the Caixa app.
- No property guarantee is required for these income ranges.
Objective and scope
Developed by the Ministry of Cities, in partnership with the Ministry of Finance and Caixa, the program should benefit 1.5 million families across Brazil. Credit can be used to purchase construction materials, hire labor, projects and technical guidance.
Among the main possible improvements are repairs to roofs, floors, electrical and hydraulic installations, as well as accessibility works or expansion of the property.
Line for income above R$9,600
Families with income above the MCMV limit can also access credit through the Reforma Casa com Garantia de Ióvel Caixa line, which uses SBPE resources.
- Value: in this modality, Caixa finances amounts starting at R$30,000, which can reach 50% of the value of the property
- Term: 60 to 180 months
- Interest: from 1.33% to 1.95% per month.
- The property is given as a guarantee, and the contract can be made at Caixa branches or through corresponding partners.
Interested parties can check eligibility, simulate conditions and obtain guidance on the website. Casa Brasil Renovation or directly through the application Box.
