Understanding how real estate financing works is the first step for anyone who wants to buy a house without using any money. Today we're going to talk about the CrediPronto mortgage!

With this option, you can pay off the property in up to 30 years and, as it is a long-term commitment, it is essential that you understand all aspects of the process, including documents, financing options, amortization schemes, etc.

Determine if it's the right time to invest in real estate by learning how real estate financing works and determining if it's the right time to buy a property. Happy reading!

" Read also: Get to know the BizCapital online loan: Quick application!

Home loans: What are the models?

Accessible forms of credit is another crucial piece of knowledge about how real estate financing works.

There are two forms of real estate financing in Brazil: SFH and SFI. Describe them below:

Housing Finance System (SFH):

This form of real estate financing covers up to 80% of the total value of the property, without exceeding R$ 1.5 million.

In addition, the buyer has up to 35 years (420 months) to pay off the mortgage, with a maximum interest rate of 12% per year, this rate was reduced to 10% per year in 2018 by new legislation.

The SFH allows the FGTS to be used to amortize or, if feasible, fully pay off the outstanding balance.

Real Estate Financing System (SFI):

But... what about houses above R$ 1.5 million? Can't they be financed?

To meet this need, the federal government created the SFI, which, in addition to financing more expensive properties, covers up to 90% of the total value and is available to legal companies.

However, the borrower will have the same maximum term to repay the loan, 35 years, and will normally incur an annual interest rate of 10%.

Advantages of obtaining a mortgage

Now that you've understood how real estate financing works and the different options, you should choose whether it's worth applying for one. Below are the main advantages of real estate financing:

• It allows those who don't prefer to pay in cash to buy real estate.
• After all, the person will be paying for their own benefit when they leave the lease.
• The property can provide additional income;
• Receive up to 90% of the property's value;
• Payment in up to 30 years;
• Credit analysis within 24 hours.

Who has the right to take out this loan?

In addition to understanding how real estate financing works, it is essential to understand who can use it to avoid paying rent.

The essential prerequisites are:

• Be of legal age;
• Have adequate and verifiable income to make the monthly payments.
• Have a clean reputation with credit protection agencies.

How to get a CrediPronto mortgage: Step by step

1. You must first submit a financing request by simulating or speaking to an agent (see contact options below);
2. Once the proposal has been sent, the CrediPronto analyzes it within 24 hours and informs you of the next steps;
3. Next, you must provide your personal and property documentation;
4. The next step is to validate your information in order to issue the contract;
5. Once the contract has been signed, CrediPronto distributes the funds within five working days.

Documents requested when taking out a loan

Personal Doc:

In addition, when researching how real estate financing works, you learned that the financial institution needs certain papers that will serve as a basis for credit analysis. These are:

• RG;
• CPF (Active);
• Certificate of marital status (marriage, civil partnership...);
• Current proof of residence;
• Evidence of income (holoritas, tax returns, bank statements, etc.);
• Joint negative tax certificate for federal taxes;
• FGTS statement (if you are using the balance).

Self-employed individuals can submit a tax return, service contracts or an income statement prepared by their accountant to demonstrate their income.

Property Doc:

In addition to personal records, financial institutions generally want property-related documentation to demonstrate the absence of irregularities.

Check them out below:

• A current property listing;
• Negative IPTU certificate;
• Property valuation;
• IPTU registration and coverage.

How does CrediPronto work with interest rates?

CrediPronto offers low-interest loans. They vary according to the type of financing and loan, the conditions chosen for the company, its financial situation and the condition of the property. The minimum monthly rate is 0.94%, significantly below the market average.

In addition, rates can fall over time, as is the case with Interest Savings and MIX Interest financing.

Learn more about CrediPronto

Banco Itaú created CrediPronto, a company specializing in real estate financing, more than a decade ago.

We are present in 26 Brazilian states and the Federal District, with more than 50,000 contracts signed, and we hope the next one will be with you.

With CrediPronto, you get personalized service and contracts issued quickly and securely.

Loan My Everything: Online credit with the lowest rate on the market!

Finally, is CrediPronto credit safe?

The low interest department endorses CrediPronto! Low interest rates and secure loan and financing arrangements are provided.

It is also a company with a low complaints rate and a large presence in Brazil.