Acquiring a property through real estate financing is one of the best solutions for those who want to make a good business. Before entering a property, however, it is very important to plan financially and to check which institutions have favorable conditions while paying all installments.
When applying for mortgage, you can make use of various features, such as FGTS, when you enter or repay the loan amount. Get some tips on how to get financing and choose the financial institution with the lowest interest rates in the market.
Plan and verify which property is compatible with your income
Planning financially before entering a new property is essential for you to be able to organize your finances. Therefore, one of the tips is to save part of your income every month and invest it in some application, such as the CDB and LCI, which can yield high interest rates. With the Permitted development finance this is important.
Cutting unnecessary spending is another suggestion if you want to save money. So when buying any products, preferably make use of the debit card or bank slip. As is well known, credit cards and overdrafts are the main villains of debt.
Also, keep in mind that installments of mortgage loans cannot exceed 30% of your total monthly income. For example, if your salary is $ 5,000, the ideal is to pay a maximum of $ 1,500 per month.
Know when and how to use FGTS
Depending on the situation, it is possible to make use of the FGTS (Time Guarantee Fund) during the financing, either to enter the property or to repay part of the loan. However, be aware of the rules for using this benefit:
the property must be located in the same municipality where the future owner currently resides
even not consecutive, you must have worked for at least three years with a formal contract under CLT
FGTS can pay up to 80% of the value of each installment during twelve months
You cannot use this benefit if you already have a property registered in your name
the FGTS will be released only when the property is registered with the registry office
The applicant cannot have any active loans through the Housing Finance System (SFH) throughout the country
If you have used FGTS for other funding in the last three years, you will not be able to use this benefit:
- properties worth over R $ 500 thousand cannot be settled with the FGTS
- even if you are named after the options, you can enjoy this benefit
- Only people over the age of 18 can participate in this program.
- household monthly income must be between one and ten minimum wages
Know the existing amortization systems
Considering the amount of each installment, the interest charged monthly and other charges, you need to know what type of amortization you want to contract for financing. Today, in the country, there are three widely used models that can help you maintain a good financial balance.