Clipping of news on Brazilian Culture, Law and Citizenship
01/19/2015
This article was translated by an automatic translation system, and was therefore not reviewed by people.
01/19/2015
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You need to understand what will happen, and the financing of the Minha Casa Minha Vida and FGTS will not be affected with this high interest rates
The increase in interest rates of mortgage by Caixa Economica Federal, which must occur for funding made after January 19, has caused concern to those who planned to make this dream this year.
However, before you panic you need to understand what will happen, and the financing of the Minha Casa Minha Vida and the FGTS (Length of Service Guarantee Fund) will not be affected with such high interest rates. In reality will change only the rates in operations with savings deposits, only valid for those with income above £ 5400.
See simulations based on the Housing Finance System (SFH) and the Real Estate Financing System (SFI):
So how is for those who want to buy a home this year? If this is already a decision, the best deal is always buy the view, as does not pay interest and also has the advantage of getting a good discount for the most part. But even so, some caution is necessary, especially in relation to extra expenses, which are considerable, with notary and bank fees, as well as items such as change, condo and furniture. Families do not think these points and there that get into debt.
However, pay cash is not the reality for most Brazilians, as a second option recommend a consortium for those who have no urgency to change and availability has a monthly investment amount. In this case it will pay less and if you're lucky you'll be drawn and make a home quickly, and also be able to save to bid with extra savings.
After these options comes the financing, which is also an interesting option, the big problem is that when buying a home financed shall be established a monthly commitment. A tip to save is to estimate the total costs, evaluate how far to reach the amount and diagnose how much can be set aside each month to make ends meet.
It is also important to keep in mind that the funding will be contracting a debt value. Which should be honored and that there are monthly interest which, added during the contract, can mean paying two to three houses.
In the case of paying rent, funding can be a great alternative, failing to pay this amount without a future return to pay to provide something that will be yours. If the person does not pay rent, a great alternative is to store the value of providing funding in any type of conservative investment, so in seven or eight years can buy the house in sight and not pay interest. One must understand that the money invested earns interest, while funding to pay interest.
A major problem faced for the realization of the dream to own a home, are the debts without value, those incurred in the purchase of products and services that often do not add value. These end up unbalancing the monthly financial budget and thus loses focus on the good value that is home.
Here are some steps to buy a home:
1. Gather the family and talk about this topic, defining the place, value and the actual conditions they are in.
2. The best way to get is to save some of the money we earn, make a simulation in any bank of what it would cost to provide this property and start to observe a conservative investment and savings, CBD or direct treasure.
3. Review the amount of rent you are paying and if the same value of providing funding, it may be an option to finance the property.
4. Remember that the financing of a property is considered debt value, so it must be protected and guaranteed before leaving paying monthly expenses.
5. Beware of the property value to buy and see if its value fits to their real standard of living, often do not respect our standard.
6. Always have a strategic reserve in case of any eventuality not fail to honor this important commitment.
7. If you are unable to pay the mortgage payments you must immediately review the expenses, especially small expenses which together can lead to family financial imbalance.
8. Never forget that a new property demand new costs, such as new furniture, condo, transfer fees, etc.
9. Another point to take into account is the cost of living in the region that will change, this can rise. Also worry about spending on transportation.
Source: Administradores.com
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This article was translated by an automatic translation system, and was therefore not reviewed by people.