Financing

In short: Under the SAC system, payments start higher and decrease over the life of the loan — and it costs roughly 10% less overall. The Price table has fixed payments from start to finish, which makes monthly budgeting easier, but results in more interest paid. The right choice depends on your current income and your tolerance for higher payments early on.

What is SAC

Under SAC (Constant Amortization System), the principal portion of each payment stays the same — what changes is the interest portion, which falls as the outstanding balance shrinks. The result: high payments at the start, decreasing over the life of the loan.

• Higher share of income committed in the first years
• Lower total cost — you pay less interest overall (~10% less than Price)
• The outstanding balance falls faster — lower risk over the long run

What is the Price table

Under the Price table (French Amortization System), payments are fixed for the entire term. The internal composition varies: early on, the payment is mostly interest; over time, the share going to principal grows.

• Lower initial payment than SAC
• More predictable for budgeting
• Higher total cost — you pay more interest overall

Practical comparison

A R$400,000 mortgage at 11.5% per year plus the TR reference rate, over 360 months:

• SAC: initial payment ~R$4,950 / final payment ~R$1,200 / estimated total paid: ~R$730,000
• Price: fixed payment ~R$4,100 / estimated total paid: ~R$800,000

Approximate figures, without projecting the TR rate — use a bank’s simulator for exact numbers.

When the bank decides for you

If the SAC system’s initial payment would commit more than 30% of your documented monthly income, the bank won’t approve SAC — only the Price table, whose initial payment is lower. In that case, the bank makes the choice, not the borrower.

Example: income of R$12,000 → maximum commitment of R$3,600. If SAC generates an initial payment of R$4,200, the bank will only approve under Price (payment of R$3,600 or less).

Which should you choose?

• Choose SAC if: you have stable income, can absorb the higher initial payment, and want to pay less over the long run
• Choose Price if: your budget is tighter in the first years, you prefer predictability, or the bank will only approve this system

For most borrowers with sufficient income, SAC is the more cost-effective choice.

Related questions

• How does mortgage financing work?
• What’s the minimum down payment to finance a property?
• Can I use my FGTS balance toward mortgage financing?
• Minha Casa Minha Vida 2026: income brackets and how it works

Want to run a SAC vs. Price simulation for a property you’re eyeing? Talk to Regente’s Sales Manager.

In short: Minha Casa Minha Vida (MCMV) is the federal housing program that offers subsidies and reduced rates to help lower-income families buy property. In April 2026, income limits were updated by Administrative Ruling (Portaria) MCID No. 333 — anyone who didn’t qualify before may want to check again.

Updated income brackets — Portaria MCID No. 333 (April 1, 2026)

• Bracket 1: monthly household gross income up to R$3,200 — the largest subsidy, rates between 4% and 5% per year
• Bracket 2: R$3,200.01 to R$5,000/month — medium subsidy
• Bracket 3: R$5,000.01 to R$9,600/month — smaller subsidy, property price cap of R$400,000
• Bracket 4: R$9,600.01 to R$13,000/month — no subsidy, but a reduced rate, property price cap of R$600,000

The April 2026 update benefits roughly 87,500 families who now qualify for brackets with lower interest rates.

What MCMV offers

• Subsidy: an amount the government contributes to lower the property’s effective price — largest in Brackets 1 and 2
• Reduced interest rate: well below market rates (Bracket 1: ~4–5% per year vs. market rate: ~11% per year)
• Use of FGTS: allowed to top up the down payment or reduce the financed balance
• Term: up to 360 months (30 years)

Who can participate

• Families within the income brackets above
• No existing residential property in the city where they work or live
• No serious credit restrictions (SPC/Serasa, active debt)
• No prior participation in MCMV or equivalent housing programs

MCMV in Florianópolis — what changed with the new price caps

The main impact of the 2026 update for Florianópolis is the higher property price caps:

• Bracket 3: rose from R$350,000 to R$400,000 — now includes more of the local housing stock
• Bracket 4: rose from R$500,000 to R$600,000 — opens the program to a meaningful share of properties in Greater Trindade

Before the update, many residential properties in Florianópolis exceeded the program’s price cap. With the new R$600,000 limit for Bracket 4, MCMV-financed purchases become accessible to more families in the area.

How the process works

1. Confirm which income bracket you fall into
2. Choose a property within your bracket’s price cap
3. Apply for financing at Caixa Econômica Federal (Brazil’s federal housing bank and MCMV’s main lender)
4. Credit and background review
5. Approval, with the subsidy amount calculated
6. Contract signing and handover of keys

Practical example from Florianópolis

A family in Pantanal, income of R$7,800/month — Bracket 3. A property priced at R$390,000 (within the cap). Available FGTS balance: R$38,000. MCMV subsidy: ~R$20,000 (Bracket 3, urban area). Effective down payment with FGTS + subsidy: R$58,000. Financed amount: R$332,000 at ~8% per year over 360 months. Initial payment: ~R$2,500 — within 30% of income.

Related questions

• How does mortgage financing work?
• What’s the minimum down payment to finance a property?
• Can I use my FGTS balance toward mortgage financing?
• SAC or Price: which amortization system should I choose?

Want to check if you qualify for MCMV to buy in Florianópolis? Talk to Regente.

In short: Yes — FGTS (Brazil’s employee severance fund) can be used to buy a residential property under the SFH system. The main conditions are: at least 3 years of FGTS contributions (combining all employers), no residential property in the city where you work or live, and the property must fall within the SFH price cap (R$2,250,000 in 2026).

What FGTS can be used for on a property

• As part of the down payment: your FGTS balance reduces the amount you need to come up with out of pocket
• To reduce the financed balance: works like an early principal paydown — lowers payments or shortens the term
• To pay down installments periodically: in some SFH contracts, FGTS can be used periodically to cover payments
• To pay off the loan early

Conditions for using FGTS

• At least 3 years of FGTS contributions across all employers (doesn’t need to be consecutive)
• Not owning a paid-off or financed residential property in the city where you work or live (properties in other cities don’t count against you)
• The property must be residential and within the SFH price cap (R$2,250,000)
• The property must be for your own use — it cannot be for rental (when buying with FGTS)
• Not having used FGTS to buy property in the last 3 years

How much can I use

The entire available FGTS balance can be used, subject to the bank’s appraised value of the property. Caixa checks the FGTS balance directly when reviewing the loan.

How it works in practice

1. Request your FGTS balance statement at Caixa (online via the FGTS app or in person)
2. Include the FGTS amount in your mortgage simulation — the bank calculates its impact on the down payment and financed balance
3. Once the loan is approved, Caixa automatically debits the stated FGTS balance
4. The funds go directly into the transaction — you don’t receive the money in your account

FGTS and Minha Casa Minha Vida

Under MCMV financing, FGTS can be combined with the government subsidy — further reducing the down payment needed. For Brackets 1 and 2, the combination of subsidy plus FGTS can cover nearly the entire down payment.

Practical example from Florianópolis

A federal civil servant (UFSC) with 8 years of FGTS contributions — balance: R$52,000. Buying an apartment in Pantanal for R$420,000. Required down payment: R$84,000 (20%). With FGTS: R$52,000 from FGTS plus R$32,000 from personal savings. Financed amount: R$336,000. Initial payment under SAC: ~R$3,600. This fits the income limit (R$11,500 × 30% = R$3,450 — the bank approves under Price; under Price, the payment comes to ~R$3,200).

Related questions

• How does mortgage financing work?
• What’s the minimum down payment to finance a property?
• Minha Casa Minha Vida 2026: income brackets and how it works
• SAC or Price: which amortization system should I choose?

Want to know if your FGTS balance can help fund your purchase? Talk to Regente.

In short: The standard minimum down payment for SFH financing (through Caixa) is 20% of the property’s value — the bank finances up to 80%. For Minha Casa Minha Vida properties (Brackets 1 and 2), the down payment can be much lower thanks to the subsidy. FGTS can supplement or even cover the entire down payment, depending on your balance.

Minimum down payment by financing type

• Standard SFH (Caixa): 20% down — the bank finances up to 80%
• MCMV Bracket 1 (income up to R$3,200): the subsidy can cover a large share — the down payment can be minimal or zero when combined with FGTS
• MCMV Brackets 2 and 3: partial subsidy — a reduced but still-required down payment
• SFI (properties above R$2,250,000): minimum down payment typically 20–30%, depending on the bank’s policy

What counts toward the down payment

• Personal funds (cash, savings, investments)
• FGTS: can be used for part or all of the down payment, if the buyer meets the requirements (at least 3 years of contributions, no property in the city where they work or live)
• MCMV subsidy: the federal government can cover part of the value — applied directly in the bank transaction
• Combination: FGTS plus personal funds plus subsidy is the most common arrangement for first-time buyers

Beyond the down payment: transaction costs

The down payment isn’t the only upfront cost. Before closing, also budget for:

• Property transfer tax (ITBI): ~2% of the property’s value — paid by the buyer before the deed
• Deed and registration: ~1–2% of value — varies by notary office (cartório) and state
• Bank appraisal: charged by the bank, generally between R$800 and R$2,000
• Homeowner’s insurance: mandatory on financed properties — the monthly premium is included in your payments

Total cost outside financing: plan for ~23–25% of the property’s value (20% down payment plus 3–4% transaction costs).

Can I finance the down payment?

No — the down payment cannot be financed by the same bank or through a personal loan tied to the mortgage. The bank requires proof of the source of the down payment funds. Using FGTS is allowed and documented.

Practical example from Florianópolis

A R$480,000 property in Trindade. Buyer qualifies for MCMV Bracket 3 (income of R$8,500). Available FGTS balance: R$45,000.

• Required down payment: R$96,000 (20%)
• FGTS covers: R$45,000
• Personal funds needed: R$51,000
• ITBI plus deed and registration: ~R$15,000 additional
• Total to raise: ~R$66,000 in personal funds

Related questions

• How does mortgage financing work?
• Can I use my FGTS balance toward mortgage financing?
• Minha Casa Minha Vida 2026: income brackets and how it works
• SAC or Price: which amortization system should I choose?

Want to know how much you can finance based on your income? Talk to Regente.

In short: With mortgage financing, the bank pays for the property on your behalf, and you repay it in monthly installments over as long as 35 years. The bank holds the property as collateral until the loan is fully paid off. In Brazil, most financing falls under the SFH (Housing Finance System) — which allows the use of FGTS and has regulated rates.

SFH or SFI: which applies to you

There are two main mortgage financing systems in Brazil:

• SFH (Sistema Financeiro da Habitação — Housing Finance System): for properties up to R$2,250,000 (the new cap as of 2026). Allows the use of FGTS. Rates start at 10.26% per year plus the TR reference rate at Caixa. This covers the vast majority of residential transactions.
• SFI (Sistema de Financiamento Imobiliário — Real Estate Financing System): for properties above the SFH cap. No FGTS allowed. Market rates — which can reach 14.5% per year. More common for high-end properties.

Financing steps

1. Pre-approval: the buyer submits income documentation to the bank. The bank calculates the available credit and indicates the maximum amount that can be financed.
2. Choosing the property: with pre-approved credit in hand, the buyer knows exactly which price range to shop in.
3. Offer and contract: property chosen → offer accepted by the seller → purchase and sale agreement (contrato de promessa de compra e venda).
4. Bank appraisal of the property: a bank-accredited engineer visits the property and assigns a market value. This value may differ from the agreed price.
5. Credit review: the bank verifies income, credit history (SPC/Serasa), and debt-to-income ratio (cap: 30% of income for the payments).
6. Approval and credit letter: the bank issues formal approval with the amount, rate, and term.
7. Signing the financing agreement: the contract is registered at the notary office (cartório) — from this point, the property is pledged to the bank as collateral (alienação fiduciária).
8. Deed and registration: once financing is formalized, the deed is drawn up and registered at the Real Estate Registry Office (CRI) — ownership officially passes to the buyer.

Interest rates in 2026

SFH rates vary by bank and client profile:

• Caixa Econômica Federal: starting at 10.26% per year plus TR (March 2026: 11.19% per year)
• Itaú: ~11.60% per year plus TR
• Bradesco: ~11.70% per year plus TR

Your actual rate depends on your relationship with the bank (checking account, life insurance, direct deposit of salary). It’s worth running simulations with at least two banks before closing.

Regente’s role in financing

When you buy a property through Regente, the Sales Manager oversees the entire banking process — from the credit review through the deed. The seller is also kept informed at every step. You don’t navigate the process alone.

Practical example from Florianópolis

A buyer in Itacorubi, property priced at R$550,000, income of R$12,000. Down payment of R$110,000 (20%). Financing of R$440,000 through SFH (Caixa, 11.50% per year plus TR, 360 months, SAC). Initial payment: ~R$4,700. Pre-approval within 3 business days. Bank appraisal in week 2. Approval in week 3. Deed signed in week 6 after the offer.

Related questions

• What’s the minimum down payment to finance a property?
• SAC or Price: which amortization system should I choose?
• Can I use my FGTS balance toward mortgage financing?
• Minha Casa Minha Vida 2026: income brackets and how it works

Want to simulate your financing with Regente? Talk to our Sales Manager.