With the new rules of Caixa Econômica Federal For property financing, which comes into force this Friday (1st), borrowers need to make a larger down payment to obtain credit through the Brazilian Savings and Loan System (SBPE). The changes directly impact the financed percentage of properties, which can increase the challenges for those planning to buy a property.
Higher down payment and financing limits
Under the new rules, anyone who opts for the constant amortization system (SAC), in which installments decrease over time, will have to pay a down payment of 30%, instead of the 20% previously required. In the Price system, with fixed installments, the down payment increases to 50%. Furthermore, financing is only available to customers without another active housing loan with Caixa, which aims to avoid increasing debt for buyers with financed properties.
Another important point is the new property valuation ceiling, limited to R$1.5 million in all SBPE modalities. Previously, this limitation was only valid for the Housing Financial System (SFH), while the Real Estate Financial System (SFI) did not impose restrictions on the value of financed properties.
Changes driven by high demand and reduced resources
The new restrictions come amid the growing demand for financing at Caixa, driven by rising interest rates in private institutions and the increase in withdrawals from savings accounts. In September, the net withdrawal from the account was R$7.1 billion, which put even more pressure on available resources. If the restrictions were not implemented, Caixa would need to raise interest rates.
Caixa also highlighted that, although the conditions apply to new contracts, the current rules will be maintained for projects financed directly by the bank. The institution, which leads the real estate financing sector in the country, granted R$63.5 billion through SBPE until September this year, a significant growth compared to 2023.
Photo: Marcelo Camargo/Agência Brasil
These new rules can make it difficult to access property financing and, at the same time, increase the importance of financial planning for those seeking real estate credit. Follow more news about the real estate market and tips to facilitate access to housing credit on our portal. https://banzeironews.com/
