Does MCMV cover previously owned properties?

In short: It depends on the bracket. Bracket 1 does not finance previously owned properties. Brackets 2 and 3 allow it, but the R$ 270,000 cap makes it impractical in Florianópolis. Bracket 4 covers previously owned properties up to R$ 600,000, but requires a minimum 40% down payment in Santa Catarina — in practice, SBPE is more accessible for previously owned properties in the city.

Bracket 1: does not finance previously owned properties

MCMV Bracket 1 operates with funds from the Residential Leasing Fund (FAR) and finances exclusively new properties, built under a public production scheme. There is no Bracket 1 option for acquiring a property already built on the open market.

Brackets 2 and 3: cap makes it impractical for Florianópolis

Brackets 2 (income up to R$ 4,700/month) and 3 (up to R$ 8,600/month) allow financing of previously owned properties, but MCID Regulatory Instruction No. 17, from August 2024, lowered the cap on previously owned properties under these brackets to R$ 270,000.

In Florianópolis, where the average price per square meter is R$ 13,208 (FipeZAP, April 2026) — the second most expensive capital in Brazil —, R$ 270,000 buys at most 20 m² downtown or 28 m² in Capoeiras. No family-sized 2-bedroom property fits within that budget in the city’s formal market.

For buyers in these brackets in Florianópolis, financing through SBPE with FGTS as a down payment is, in most cases, the only viable route for a previously owned property.

Bracket 4: finances previously owned properties up to R$ 600,000, but with a 40% down payment

MCMV Bracket 4 — Middle Class (income up to R$ 13,000/month, MCID Ordinance No. 333/2026) — finances previously owned properties up to R$ 600,000. The critical point in Santa Catarina (southern Brazil) is the financing limit: Caixa finances at most 60% of the value of a previously owned property, requiring a minimum 40% down payment.

In practice in Florianópolis:

• Previously owned property worth R$ 400,000 → maximum financing R$ 240,000 → minimum down payment: R$ 160,000
• Previously owned property worth R$ 500,000 → maximum financing R$ 300,000 → minimum down payment: R$ 200,000
• Previously owned property worth R$ 600,000 → maximum financing R$ 360,000 → minimum down payment: R$ 240,000

Why SBPE is usually more viable for previously owned properties in Florianópolis

SBPE (market-rate credit) allows an LTV of 80% for previously owned properties — a minimum 20% down payment. For the same R$ 500,000 property:

• MCMV Bracket 4: down payment of R$ 200,000 (40%)
• SBPE + FGTS of R$ 40,000: effective down payment of R$ 60,000

The rate difference — MCMV at 10% p.a. with no TR index vs. SBPE starting at 11.19% p.a. + TR — rarely justifies requiring three times more capital upfront. For those without that amount available, SBPE is the practical path.

Sources: Ministry of Cities — MCID Regulatory Instruction No. 17/2024; MCID Ordinance No. 333/2026; FipeZAP April 2026; gov.br/cidades — MCMV Middle Class.

Related questions

• Can I use my FGTS balance under Minha Casa Minha Vida?
• Minha Casa Minha Vida 2026: income brackets and how it works
• SAC or Price: which amortization system should you choose?

Have questions about which option is best for your profile? Talk to a Regente agent.