Getting your own house requires a lot of planning and calculation, especially when deciding on the ideal financing. The most frequent uncertainty at this point is: but how to get the best mortgage rates? And that’s why we’ve prepared this content for you!
Lately, banks have been declaring lower and lower interest rates on mortgages with the intention of showing that they are following the decline in the basic interest rate (Selic), but we know that advertisements cannot always be believed, right? There are many variables involved in the lower borrowing rate equation, and often the lower effective interest rate does not mean a cheaper loan.
According to the average interest rate, presented by the Central Bank, for November 2019, the rates performed by organizations are significantly higher than the announced minimum. To help you honestly identify the best institution to carry out your financing, we have a comparative table of interest rates made by the UOL economics sector:
|Bank||Financed Value||Minimum swear advertised||Effective interest in the simulation||CET (Total Effective Cost)||Difference between minimum interest and CET|
|Bank of Brazil||R$ 400.000||7,20%||8,29%||8,93%||1.73 percentage points|
|Bradesco||R$ 400.000||7,30%||7,30%||8,07%||0.77 percentage points|
|Box||R$ 400.000||6,75%||7,50%||8,14%||1.39 percentage points|
|Itaú||R$ 400.000||7,45%||7,45%||8,02%||0.57 percentage points|
|Santander||R$ 400.000||7,99%||7,99%||8,55%||0.55 percentage points|
Distinction of fees in real estate financing of R$ 500 thousand in 30 years
Source: UOL economy
There are also practical alternatives that can be very advantageous when buying your property at the lowest possible rate. Using your Employment Compensation Fund (FGTS) or making strategic cash investments can, at this moment, give you a lot of strength, you know?
How to use FGTS to buy a home?
The FGTS is a fund paid to the worker by his employer, created by the government to be, in addition to a reserve of resources for the employee, an alternative for financing own properties and works associated with quality of life such as infrastructure and basic sanitation.
Currently, all properties financed by the Housing Finance System (SFH) and that are within a defined cost from time to time, by engineers qualified by the financial agent, can be purchased with the FGTS.
A very important point to remember is that the property must be located in an urban area as well as a residential area, and this house or apartment must be specially designed for the employee’s residence.
To use your Employment Compensation Fund to finance your own home, you need to comply with four very simple requirements:
- Do not have any active financing in the SFH anywhere in Brazil;
- Have at least three years, not necessarily continuous, with a formal contract;
- Live or work in the municipality where the house or apartment you want to buy with the fund is located;
- Do not own any residential building in the municipality where you wish to acquire the property.
Financial investments: how to invest well and avoid interest when buying a property?
Investing in a strategic way can give you ample autonomy when managing the money available for the purchase of your own property and, in this way, guarantee you a high value to offer as a down payment.
When we touch on the subject of investments, many doubts arise about the ideal application category to choose and obtain the precise value for the purchase of the house or apartment. There is no formula that fits perfectly into everyone’s life, it is very important to always keep in mind that financial applications require a certain amount of time and particular analysis, such as a personal budget.
Commonly, those looking for strategic applications to buy a property are looking for investments that are quite predictable in terms of income, and for this purpose, fixed income offers great stability for all investors. But this decision depends a lot on the profile and risk that you identify the most and also on the time you intend to pay attention to this application.
Now you want to know exactly what to do to get the ideal financing rate and finally buy your own property? Follow Agiliza Crédito Imobiliário on social networks and guarantee your access to even more precious content like this!