FGTS Balance May Reduce First Home Finance

FGTS Balance May Reduce First Home Finance

Workers who want to buy a home of their own can use their Employment Compensation Fund balance (FGTS) to finance the property. The rule is recent, in effect since August of this year.

According to the regulations, the use of the credit will only be applicable if the installments are paid through the housing finance scheme. SFH has an interest margin of 12% per annum.

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Financing rule with the help of FGTS

According to the rule, fund resources can be used only if the financing is for the first property, with a maximum value of R$ 1.5 million. It is necessary for the worker to have an active account in FGTS For at least three years.

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To access the loan at SFI, the worker can use the balance in the escrow fund account to deduct the balance, which can be up to 80% of the premium in 12 consecutive months.

However, in the case of discounts on the value of the property, the bank responsible for receiving the financing must include the amount in the outstanding balance, so that the amount of discount from FGTS is returned.

Who Can Use FGTS for Funding?

In short, so that the worker can use a scale FGTS, it is necessary to comply with the conditions set by the Board of Trustees of the Guarantee Fund and the Private Housing Manual published by the Fund’s operating agent.

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Mobility

Finally, it is worth noting that the Board of Trustees FGTS Allows the possibility of transferring the earned value loans with the fund. In this case, the worker can transfer his financing from one financial institution to another in order to find the terms with the lowest rates of interest.

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About the Author: Camelia Kirk

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