FGTS Futuro can be used to purchase properties in March

The Board of Trustees of the FGTS (Guarantee Time in Service Fund) will meet on March 19 to discuss a topic that is very important to the government, which is the use of… Future deposits When you buy your own home. According to Caixa's Vice President of Housing, Inés Magalhães, operations could begin like this this month.

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In the event of a positive decision from the Board of Directors, Caixa Econômica Federal will be able to start operating the model within a few days. It will be possible to use up to 120 months of future credits in the Fund to obtain more favorable financing conditions.

“The FGTS Futuro will be important, and it should be included in the agenda of the Board of Trustees next March. All studies and everything necessary for this have already been done.” […] The technology solution had already been created, which was one of the challenges. Today we just need to make a decision. “Then, we can be up and running in a few days,” Magalhaes said.

How will FGTS Futuro work?

The process is to use future contributions from the employer to the account linked to the employee, to pay the installments of the financing contracted through Minha Casa, Minha Vida. The idea is to implement a trial period with families with incomes up to R$2,640 (Level 1 of the Housing Programme).

If all goes well, all groups served by the program can use future resources, targeting families with a monthly income of up to R$8,000. The government estimates that about 60,000 families with incomes up to the minimum wage could benefit each year.

The main rule, according to Caixa's vice president, is not to give away more than 30% of the contractor's income.

The biggest hurdle for the government is that many families don't even reach that threshold, given their ability to pay. In general, Brazilians do not receive high financing because they cannot afford the corresponding premium.

This will be the trump card of FGTS Futuro. Through it, workers will be able to consider future deposits into the fund to increase their ability to make home payments.

“FGTS Futuro can be a way to increase the value that it has access to. This will mainly help people with low income. It can be a dividing line between access to this financing or not, or access to this financing in better conditions or not.”

Finance simulation

To demonstrate the use of the new feature, Caixa simulated financing provided by a worker in his 30s, with a monthly household income of R$2,640 and living in the North or Northeast region. The financing term for the property will be 420 months under normal conditions, and 120 months using FGTS Futuro.

The ability to pay will allow the ceiling of 30% of income to be waived, which means that it will be possible to finance R$ 129,400 and pay a monthly installment of R$ 791. Without FGTS Futuro, the buyer can only commit 22% and finance R $ 93.6 thousand, bringing the installment Monthly to R$ 580 per month.