See Why Financing Is Better Than RentingOn November 10, 2019 by admin
If you live in rent, you’ve probably thought about how frustrating it is to pay monthly installments for space that will never be yours. After all, month after month, the tenant delivers values that could be saved if they had their own property – the dream of many Brazilians! Perhaps it is time, then, to exchange the rent for financing.
The cost of a consortium is usually little higher than the cost of the lease. There are interest rates and mandatory housing insurance, for example. In the long run, however, the advantages are unmatched: in the financed plan, the property is yours, and at the end of the installments, there will be no monthly rental costs – quite different from what happens with the latter.
Property rental amounts vary with each past contract year
This means that if you have signed an agreement in April, the space tenant will have its lease portion readjusted the following April, according to the real estate market’s annual rate.
The rent is adjusted annually. With the values, it would be possible to pay home.
There are three fees that can be considered for updating values.
The installments of a real estate installment vary by financial institution. For this calculation, the monthly household income, the down payment amount and the loan repayment period are considered.
Real estate financing usually last 30 years. If the same R $ 1078 were charged for this entire period as lease, the consumer would have almost R $ 390 thousand accumulated. Applied in financing, these values would result in a homeownership.
Requirements for exchange
Investing in one’s equity is the main advantage in choosing installment over rent. Payment of the monthly installments to a bank will repay the property and transfer it to your name.
It is important to say, however, that financial companies have some requirements before credit approval. The first of these is good credit in the market.
To know the user’s payment history, the bank consults the entries in the Credit Protection Service (SPC) and Centralization of Banking Services (Serasa) lists. If it is considered “bad payer”, the consumer hardly has approved credit.
A good tactic to facilitate this check and increase the bank’s confidence in you is to request the inclusion of your Serasa Positive Registration name. Learn more about the option in this article.
Finance requires at least 10% of the value of the property as a financing input.
Another common requirement is input values. Thus, before applying for financing, it is interesting that the customer saves values for a few months, until he can at least 10% of the total cost of the property. For homes, you can use FGTS on this signal, which greatly facilitates the process.