If you are studying the purchase of a property and looking for information about the maximum value of a mortgage, congratulations! Planning and knowing the possibilities of the market is the safest way to make a good purchase.
Financing is a long-term commitment and, therefore, requires commitment and financial organization, isn’t it?
If you are looking for important guidelines for that moment, you are in the right place. Continue reading the post and check it out!
What is the maximum amount of a mortgage?
The answer to this question is not simple, since the value changes according to the financial institution. Each of them, following the government’s own strategies or guidelines, specifies a percentage of the value of the property that can be financed, as well as a maximum ceiling. See more details below!
Financial Housing System (SFH) and Real Estate Financial System (SFI)
These systems are managed by the Government, with the SFH allowing the financing of up to 80% of the property value of up to R $ 1.5 million and the SFI of properties above this value.
They are also the reference base of private institutions, but, in their case, each establishes their percentage of financing, the maximum ceiling and contractual conditions.
Both SFH and SFI now have a maximum interest rate of 9.75% per annum, plus a minimum Referential Rate (TR) of 8.5% per annum, plus TR.
Brazilian Savings and Loan System (SBPE)
This is also a type of financing line. With SBPE, through the Government, 50% of the property’s value can be financed. Other private institutions can offer the same system, but with percentages that reach 80%.
Pro-quota Line (FGTS)
The Pro-quota Line is a type of Government financing and offered to contributors to the Severance Pay Fund (FGTS). To use it, it is necessary to have, at least, 36 months of work in the Fund regime or 10% of the property value as accounted balance.
How to choose the financing company and what to consider when evaluating the contract?
Some points are necessary to take into account before making such a decision. To use FGTS as a financing line, for example, it is necessary to comply with some rules, as well as for the Housing Financial System.
In addition, it is necessary to evaluate the Total Effective Cost (CET) of the operations. Although some public banks centralize the management of some lines of real estate credit, private institutions may offer lower interest rates to win bids.
This is the case, for example, of CrediPronto, which finances up to 82% of the property value, with 360 months for residential models and 240 months for commercials, personalized interest rates and credit analysis within 24 hours, which speeds up the whole process. The process.
Another interesting point is that it can be hired directly from a real estate company, further shortening the processes and ensuring that the know-how of the professionals involved is made available to the buyer, including seeking the necessary documentation for the financing.
Is it clear what the maximum value of a mortgage is? As you know that it is also necessary to research on notary costs and other expenses of the process.