Property financing approved by Caixa

Financing your own property is an alternative for many who dream of getting out of rent. But the fact is that there is a fear of disapproval of the applicant for funding.

There are some things that can help you get approved for home financing. So we'll talk about some things that can help you a lot in this process.

Simulate financing before applying:

Before making a request for financing your own property, it is good to do a simulation of the financing itself, as it is a way that you will have an idea of how your financing will be.

You will know how much you will pay monthly over the years and in how many years you can pay off this financing. You'll also get a sense of how much you can put down.

With the simulation you will be able to have an idea of how long you need the term, as the installments must have a maximum value of 30% of your fixed income. By doing the simulation, you will not choose a shorter term that exceeds the required 30%. Because a value that exceeds that, can greatly increase the chances of a request being denied by the bank.

The simulation gives you an exact idea of the best way to apply within your lifestyle and budget.

Caixa Property Financing

Clean name is essential:

The first step to applying for property financing is to have a clear name, if you have any pending issues, then start by getting rid of this pending issue and clear your name with credit protection agencies. The bank sees default as a great risk that the applicant will not settle the debt and will generally always deny financing in these cases.

Consult your CPF with the SPC and SERASA and see your pendencies. Negotiating debt can have a certain negative impact on your history, but it is less impacted than outstanding debt.

It is also good to have as few debts as possible, even if they are not in arrears.

It's good to have a proper input:

It's good that you collect as much as you can to give a down payment on your financing. This even softens the amount to be paid in installments and fees.

Whether your property is new or used, it is good to know that you will need at least 10% of the value of the property chosen to offer as a down payment for approval. Because not offering entry to the Caixa is a certainty of a denied request.

Open a cashier account:

Financial institutions offer better conditions to customers who have a good relationship. So it's good to consider opening a Caixa account. This can increase your chances of approval within that institution.

The account will be able to show exactly your movements to the bank, as it somehow improves your chances of approval. Another advantage is that having an account, you don't have to pay the branch fee.

Have the necessary documents required by the institution at hand. All documents must be correct and without errors. Check it well.