Minha Casa, Minha Vida: how is the program after the changes announced by the government

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New rules should be implemented throughout the month of July. The main changes are in federal subsidies, in interest for financing and in the maximum value of the property. Income ranges have also been updated. Minha Casa, Minha Vida: how is the program after the changes announced by the government. Ministry of Cities The Board of Trustees of the Severance Indemnity Fund (FGTS) approved this Tuesday (20) measures that change the Minha Casa, Minha Vida program. The regulation of the popular housing program will be made until June 30th by the Ministry of Cities. With this, the new rules should be implemented throughout the month of July. Among the main changes announced are: an increase in the subsidy for property acquisition; the reduction of interest for financing families with a monthly income of up to R$ 2,000; the increase in the maximum value of the property that can be purchased by the highest income bracket. The changes proposed by the federal government will affect beneficiaries differently, who are divided into three income ranges (also updated): Range 1, with income of up to R$ 2,640 per month; Group 2, with monthly income of R$ 2,640.01 to R$ 4,400; Level 3, with monthly income of R$ 4,400.01 to R$ 8,000. Subsidy increase The subsidy is part of the funding paid by the Union through the housing program. In some cases, the amount set by the government can reach 95% — that is, the family pays only 5% of the amount. With the approval of the FGTS Board of Trustees, the subsidy cap on the property down payment for families in bands 1 and 2 increased from R$ 47,500 to up to R$ 55,000. According to the Ministry of Cities, this limit has not been revised since 2017. Interest rate for financing The interest rate charged to families with monthly income of up to R$ 2 thousand increased from 4.25% to 4% per year, to the North and Northeast regions; For the Southeast, South and Midwest regions, the rate went from 4.5% to 4.25% per year (see details in the table below). Maximum value of the property The maximum value of the property that can be purchased in band 3, for families with income between R$ 4,400 and R$ 8,000, increased from R$ 264,000 to up to R$ 350,000. This value is valid for the whole country, and not just for the cities of Rio de Janeiro, Brasília and São Paulo. The ceiling for properties for categories 1 and 2 of Minha Casa Minha Vida, in turn, was between R$ 190,000 and R$ 264,000 — depending on the location of the property (check the table below). The government estimate is that the change will generate 57,000 new hires in track 3, 40,000 of which this year. In addition, the council estimates a 12% growth in hiring, with around 330,000 units for families with incomes of up to R$ 3,300. SEE THE STEP BY STEP FOR HIRING THE HOUSING PROGRAM Budget and goals Minha Casa, Minha Vida was created in 2009, during the second term of the Lula (PT) government. The government set aside R$9.5 billion for the program this year. In 2020, under the management of Jair Bolsonaro (PL), it was replaced by Casa Verde e Amarela – which changed some points of the original program, but maintained the objective of facilitating access to housing for low-income families. Minha Casa, Minha Vida was resumed by the PT administration in February this year. The Lula government’s goal for the housing program is to serve 2 million families by 2026, considering the benefits that are distributed among all income brackets. Lula talks about expanding the program This month, President Luiz Inácio Lula da Silva (PT) said he wants to expand the Minha Casa, Minha Vida program for middle-class families, who earn up to R$ 12,000. The current version of the program is aimed at facilitating the financing of housing for families residing in urban areas, with a gross monthly income of up to R$8,000, and families in rural areas with a gross annual income of up to R$96,000. “We need to do not just Minha Casa, Minha Vida for the poorest people. We need to do Minha Casa, Minha Vida for the middle class. guy also wants to have a house and this guy wants to have a better house”, said Lula, last week. With information from Alexandro Martello, from g1, in Brasilia.

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