Cmn changes rules for buying property in my house, my life

The National Monetary Council (CMN) approved on Wednesday new rules for those who will finance the purchase of property for the Minha Casa, Minha Vida program, establishing interest rates in the income range between R $ 4,700 and R $ 8,600 (track 3) and criteria for charging tariffs in the range between R $ 8,6 thousand and R $ 12 thousand (middle class program).

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In a statement, the Ministry of Finance stated that the changes seek to “expand access to housing credit to average income families, promote greater equality among sources of financing and ensure lower interest rates for this audience”.

In the case of track 3, a resolution provides for the offer to borrowers of the same funding conditions currently committed in FGTS resources operations, including nominal interest rate of 8.16% per year + Referential Rate (TR), with a percentage discount for FGTS quota holders.

READ MORE: My house, my life: understand change that benefits those who earn up to $ 12,000

“The goal is to ensure equality in access to housing credit under PMCMV conditions, regardless of the source of resources,” the farm said.

The second resolution allows the application of the middle class program operations of the same rates established in the case of FGTS resource operations.

“This program combines FGTS resources with funding of financial institutions (such as savings and LCI), allowing credit to more competitive rates than those currently practiced and, with FGTS funds, will also allow us to expand the housing credit available to this audience,” said the farm.

The ministry clarified that, with the normative change approved, “even with the use of combined resources, the tariffs charged” at funding of the middle class program will be “the same of typical FGTS resources operations.”

According to a 2018 resolution, rates that can be included in these financing operations are two: the analysis of an individual housing insurance policy proposal and contract management (monthly) – in this case, limited to $ 25.

Also read: My House My Life: Public Government Ordinance with a new middle class track

Published in the Federal Official Gazette on April 25, the ordinance that established the middle class program indicated that the new range allows the purchase of real estate up to the limit of R $ 500 thousand, financed in 420 months, at a nominal interest rate of 10% per year – below the values ​​practiced on the market, which revolves around 11.49% per year, according to Planalto note at the time. The program also allows FGTS participation by 50%.

The CMN is formed by Finance Minister Fernando Haddad, Central Bank President Gabriel Galipolo and Minister of Planning and Budget, Simone Tebet. The approval of this Wednesday’s resolutions took place at an extraordinary meeting of the Council.