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What is My Home My Life? What is the Federal Government program about? What is your relationship with the current program called Casa Verde e Amarela Program? Who can participate in this program aid from the Federal Government? Is it possible to get a house or land without having to make a deposit or pay anything?
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Buying a property to call your own is increasingly difficult. Due to the hypervaluation of the real estate market, in addition to, of course, a gigantic rise in inflation in the last 20 years, buying a property has become extremely complicated, with minimum values in the range of 80 thousand reais, in a distant location.
We are only talking about land values, not counting the price to build a house. There are more affordable options, such as prefabricated wooden houses or even material kitnets, which can cost less than 50 thousand reais, but without offering the slightest comfort for those who live inside.
In this way, viable options arise for those who want to have a good home: Federal Government aid programs, such as the former Minha Casa Minha Vida, now the Casa Verde e Amarela Program. So, if you want to understand What is My Home My Life, follow us to the end of the article for more details. Come on, read with us!
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What is My Home My Life? The program no longer exists!
The first thing you need to know is that “Minha Casa Minha Vida” no longer exists. Well, at least not with that name. Recently the program received some changes, such as the name change to Casa Verde and Amarela, lower financing rates, longer financing time, in addition to a decrease in the square footage of the house.
Regarding this last point, the Federal Government stated that the residence reduced its size to accommodate more people with the program. While in the past the house was around 70m², now it can be found in 3 sizes:
- 36m² + external service area;
- 38m² with internal service area already included in the square footage;
- 39m² for apartments or attached houses.
If we stop to analyze, today, the house is almost half the size of the house that was built in Minha Casa Minha Vida. However, the measure is justified: currently, the Federal Government, through the Casa Verde e Amarela program, increased the production of homes by 80%, almost double the delivery of homes under the old program.
Still, we will continue mentioning the previous name throughout the article, after all, you came here to find out how Minha Casa Minha Vida works. However, keep in mind that the program is no longer called that. Today, it is called Casa Verde e Amarela. So, keep reading with us to find out how it works!
What is My Home My Life? Who can receive a house from the Federal Government?
After all, you already know what Minha Casa Minha Vida is, but who can participate in the Federal Government's aid program? Below, we leave a list with all the minimum requirements for participation in Minha Casa Minha Vida. So, read and understand:
- Not having property;
- Prove income;
- No credit restrictions;
- Do not commit more than 30% of monthly income in installments;
- The property must be in the same location as work or residence;
- The total age of the proponent cannot exceed 80 years;
- It is not possible to finance the property for rental purposes;
- You cannot sell the property before the end of the financing.
What is My Home My Life? Income ranges
As for item number 2, several income ranges are accepted, but they must be considered in different ways. So, read and understand:
- Band 1: valid for those with a monthly income of up to R$1.8 thousand. In this category, financing takes place in up to 120 installments, ranging from R$ 80 to R$ 270, depending on family income;
- Band 1.5: valid for those with a monthly income of up to R$2.6 thousand. In this case, families receive the benefit of a new property purchase subsidy of up to R$47.5 thousand. The interest rates applied reach up to 5% per year and the payment term is up to 30 years, defined based on family income;
- Band 2: valid for those with a monthly income of up to R$4 thousand. Beneficiaries of this modality can receive a subsidy of up to R$ 29 thousand when purchasing a new or used property, with a payment period of up to 30 years;
- Band 3: valid for those with a monthly income of up to R$7 thousand. Families that prove this salary income range benefit from different and more attractive interest rates compared to those offered on the market. Regarding the payment term, installments can reach 30 years.
This was our content, where we explain once and for all what Minha Casa Minha Vida is. If you still have any questions about the subject, comment below and we will answer you and see you next time!
