How to buy a property with finance: There are currently many financing options for buying a property, the most popular being the Minha Casa Minha Vida programme.

In addition to the programme managed by Caixa, non-compliant individuals can obtain financing from various banks in Brazil.

The answer is yes, but it depends. Firstly, you can finance a 100% property when it is new and in the process of being installed. This is because you can use the wait for the property to be delivered to pay the down payment in instalments.

First of all, it should be noted that the Box and other banks finance up to 80% of the property value.

You must therefore put down at least 20% of the value. However, you pay this down payment directly to the property developer, and many builders throughout Brazil offer payments in instalments, usually interest-free.

Buying a property through Minha Casa Minha Vida

Firstly, the best option for buying a property with no down payment is through the Minha Casa Minha Vida programme, as you can use the FGTS as well as the subsidy to reduce the down payment.

This means that you can earn a subsidy and also write off the FGTSYou and anyone else who is buying the property with you, such as your spouse.

This way, you pay the down payment while you wait for the property to be delivered. And once you're in the property, you start paying the mortgage to the bank.

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To take part in the MCMV programme, you must be over 18 years of age, you must not have another property in your name or be the owner, assignee or holder of another mortgage, you must not have taken part in other housing programmes and you must live or work in the city where you are going to buy the property.

How to buy a property with finance

But first of all, do the maths and only close a deal if the down payment can be afforded. You'll be paying the down payment without having possession of the property, i.e. you can't live in it yet.

If you pay rent, it's very important to do the calculations. Make sure you'll be able to afford the down payment as well as your other expenses, such as rent, electricity, condominium fees, etc.

But beyond that, this is a great option for those who want to buy a property and don't have the money to put down.

As you can use your FGTS and the Minha Casa Minha Vida subsidy as a down payment, you can reduce the price considerably and make the instalments fit in your pocket. What's more, you'll be buying a new property that's never been lived in.

Why am I not approved for the loan?

Each bank or financial institution has its own rules for accepting or rejecting a loan, credit card or financing application. However, some points are common to most companies and help you understand why your loan application was rejected.

Low Credit Score: The credit score is a key factor in getting your loan approved by the bank, so it's essential to have a high score in order to be approved first.

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