What are government subsidies and how can you secure yours?

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Buying your own home is a dream for many families, and government subsidy can be a great help in facilitating this process.

In Brazil, programs like My Home, My Life and the Green and Yellow House offer subsidies that help reduce the value of the property to be financed.

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These subsidies make financing more affordable, with lower interest rates and longer repayment terms. In this article, we will explain what government subsidies are, how they work, and how to secure this benefit to reduce the costs of your financing.

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What are government subsidies?

You government subsidies These are financial amounts that the government offers to reduce the cost of a property. They work as a kind of “discount”, reducing the amount that will be financed and, consequently, the value of the installments.

The aim of the subsidies is to make home ownership more affordable for low-income families, especially those who struggle to afford the full costs of a property.

In the context of the program My Home, My Life and of the Green and Yellow House, subsidies vary according to the family's income bracket, the location of the property and other factors.

The lower the family income, the higher the subsidy tends to be. This means that low-income families can afford to buy a house without compromising their family budget as much.

How does government subsidy work in financing?

O government subsidy can cover part of the total value of the property. This amount is discounted directly from the financing, which reduces the outstanding balance and, consequently, the value of the monthly installments. The subsidy is offered based on an analysis of your family income and may vary according to your income bracket.

For example, families of Track 1 (with income up to R$1,800.00) can receive higher subsidies, which can cover a significant portion of the property value. Families in the Track 2 It is Track 3 (with higher incomes) may be entitled to smaller subsidies, but still with more favorable conditions than the traditional financial market.

Furthermore, the government subsidies are one of the great advantages of Green and Yellow House program. Just like in My Home, My Life, the objective is to ensure that more people can own their own home without completely compromising their family income.

How to secure government subsidy?

To guarantee the subsidy from the government, you need to apply for the financing program My Home, My Life or Green and Yellow House and meet the established requirements. See how to secure the subsidy:

  1. Check your income bracket: The first step to securing the subsidy is to know which income bracket you fit into. The brackets range from families with an income of up to R$ 1,800.00 to families with an income of up to R$ 7,000.00. The lower your income, the higher the subsidy you will be able to receive.
  2. Register for the program: Registration for the program My Home, My Life or Green and Yellow House can be done directly on the website Federal Savings Bank or through the city halls in your city. During registration, you will provide information about your income, family composition and the necessary documentation.
  3. Going through credit analysis: The Federal Savings Bank will perform a credit analysis to check whether you are eligible for financing and subsidy. The analysis will take into account your family income, your ability to pay and other factors.
  4. Take advantage of the financing simulation: Before formalizing the financing, you can make a financing simulation on the website of Savings Bank. This simulation will show you the amount of subsidy you can receive and the amount of the monthly installments, according to your income bracket.
  5. Approval and signature of the contract: After review, if your application is approved, you will be informed about the amount of the subsidy and financing. You can then sign the contract and begin the process of purchasing the property.

Benefits of securing government subsidy

Ensure the government subsidy brings several benefits to those who want to buy their own home. Some of the main benefits are:

Final considerations

You government subsidies are an essential tool to make home ownership more affordable. By ensuring the government subsidy through the program My Home, My Life or Green and Yellow House, you can significantly reduce financing costs and make the dream of owning your own home a closer reality.

If you meet the program conditions, it is recommended to do a simulation on Caixa Econômica Federal website to find out exactly how much subsidy you can receive and how it will impact the value of your installments. Take advantage of this opportunity and acquire your property with easy conditions, ensuring a more secure future for your family.