Purchase of new property with FGTS receives R$ 2 billion from the government – 06/07/2023 – Market

The government of President Luiz Inácio Lula da Silva increased the minimum amount that will be allocated for purchases of new properties under the program that offers a line of financing with resources from the FGTS (Fundo de Garantia do Tempo de Serviço).

A normative instruction from the Ministry of Cities provides that the budget of the Pro-Cotista (Special Housing Credit Program for the FGTS Quotaholder) should allocate at least R$ 2.010 billion for the purchase of new properties.

The act was published in this Wednesday’s edition (8) of the Official Gazette.

The normative instruction published this Wednesday updates the values ​​defined in December last year, the end of the government of Jair Bolsonaro (PL). The former president’s team had set at R$ 1.2 billion the minimum budget for the program that should be allocated to the purchase of new properties.

The new rule also establishes a new maximum value that can be allocated to properties with a higher value, above R$ 500 thousand. That ceiling, which was BRL 600,000, is now BRL 2.010 billion.

The Pró-quotista is a line of housing finance from Caixa Econômica Federal aimed at workers holding accounts linked to the FGTS. The program enables the purchase of new and used properties or construction, with financing for up to 30 years.

If the FGTS account is inactive, it must have a balance equal to or greater than 10% of the value of the property.

Its main difference in relation to Minha Casa Minha Vida is that the buyer of the property does not need to be framed and a maximum income limit.