Minha Casa, Minha Vida: new rules come into force – 07/07/2023 – Market

The new financing rules for MCMV (Minha Casa, Minha Vida) properties come into effect this Friday (7). Caixa, the program’s financial agent, plans to contract at least 555,000 properties through the housing program by the end of the year, 440,000 of which will be funded by the FGTS (Fund for the Severance Pay Period).

Among the main innovations is the expansion of the ceiling for families with income of up to R$ 8,000 to finance a property using the guarantee fund. The highest value of the property to be financed for this range went from R$ 264 thousand to R$ 350 thousand.

The subsidy to complement the purchase of the property through Minha Casa, Minha Vida also increased: from R$ 47.5 thousand to R$ 55 thousand. The value is defined according to population, social and income factors. In general, this type of discount is applied when granting housing financing, reducing the total amount of the loan.

For families in Tiers 1 and 2, with a gross monthly income of between R$2,640 and R$4,400, the property value limit varies between R$190,000 and R$264,000, depending on the location, as shown in the table below. :

According to data from Caixa, 92% of municipalities (5,137) had some increase in the ceiling, 91% of municipalities (4,968) have an additional amount of more than R$ 10,000 and 88% of municipalities (4,339), with amounts above R$ $20k.

The new conditions also include a reduction of 0.25 pp in the interest rates offered to families with incomes of up to R$ 2,000. In the North and Northeast regions, it increased from 4.25% to 4% per year and, in the other regions, from 4.50% to 4.25% per year

The new Minha Casa, Minha Vida plans to expand financing for repairs and readjustment of existing buildings, a technique known as retrofit. For the acquisition of these properties, borrowers are entitled to an extra value of 40% above the ceiling.

So far, 1,088 units have been contracted under this modality, which mainly benefits buildings located in urban centers, such as São Paulo. According to Caixa, around 80% were owned by public entities.

properties with balconies

The rules of the new MCMV present conditions for the construction of housing units. The minimum area for housing units will be 40 m² for houses and 41.50 m² for apartments, which must have balconies.

It will also be necessary to include a point for the installation of air conditioning in both rooms and the installation of shutters in the rooms must be foreseen.

The provision of bike racks in condominiums, as well as space for libraries, are other requirements of the new version of the popular housing program.

The Lula government’s goal is for 2 million new units to be contracted for the low-income population by the end of the president’s term, in December 2026.