Originally focused on the poorest families, My House, My Life (MCMV) has consolidated another step to benefit the middle class. From early May, banks will start offering track 4, a new category that will cover families with a monthly income of $ 8,000 to $ 12,000.
Last Tuesday (15), the Curator Council of the Service Time Guarantee Fund (FGTS) approved the creation of track 4 of the housing program. The new category will finance new and used properties of up to R $ 500 thousand, with interest of 10.5% per year and 420 monthly installments. Currently, market rates for this type of real estate are between 11.5% and 12% per year.
According to the elections of cities and work and employment, the new category should benefit up to 120,000 families this year alone, expanding to 3 million the housing units funded by 2026when adding all the tracks. Understand the main changes in the housing program:
How were the tracks of my house, my life?
- Range 1: Family income of up to R $ 2,850.00, with subsidy of up to 95% of the value of the property;
- Range 2: Family income from R $ 2,850.01 to R $ 4.7 thousand, with a subsidy of up to R $ 55 thousand and reduced interest;
- Range 3: Family Income from R $ 4,700.01 to R $ 8,600, without subsidies, but with facilitated financing conditions;
- Range 4: Family Income from R $ 8 thousand to R $ 12 thousand, with interest of 10.5% per year, 420 installments and financing limit of up to R $ 500 thousand, of new and used properties.
How were the previous income limits?
- Range 1: family income of up to R $ 2,640;
- Range 2: Family Income from R $ 2,640.01 to R $ 4.4 thousand;
- Range 3: Family Income from R $ 4,400.01 to R $ 8 thousand.
What is the volume of resources for the new track 4?
R $ 30 billion distributed as follows:
- R $ 15 billion of FGTS annual profits, obtained from the fund’s income in financial investments and the return of financing;
- R $ 15 billion from the savings account, via the Brazilian Savings and Loan System (SBPE), and the Letters of Real Estate Credit (LCI), a title issued by financial institutions to raise funds for private housing credit.
Who has no quotas in FGTS can finance by track 4?
Yes. Since the resources will come from annual profits, not deposits in FGTS, workers without quotas in the fund may finance properties in range 4.
What are the restrictions for track 4
Because they are FGTS resources, financing will have to obey the following rules:
- Finance only the purchase of the first property;
- Finance up to 80% of the value of the property, with the borrower paying the difference.
Used properties can be funded by track 4
Yes. As long as it is the first property of the borrower.
Are there changes for MCMV tracks 1 and 2?
Families of banners 1 and 2 (monthly income of up to R $ 4,700) may finance properties with the funding ceiling of R $ 350 thousand.
The financing, however, will have the same interest and deadlines as in track 3:
- interest of 7.66% to 8.16% per year;
- without the subsidies of banners 1 and 2.
