FGTS can be used to pay off homeownership debts; know how

THE FGTS balance (Service Time Guarantee Fund) can be used to pay late installments of real estate financing. The novelty is that now the worker can pay off more installments using these resources.

Read more: It’s simple: how to check the PIS number to see the FGTS balance?

The FGTS Board of Trustees approved the use of the resource to pay up to 12 late monthly payments or to pay off debts in one go. Until then, it was allowed to pay up to 3 installments.

Use of FGTS at home

The new rules are effective until December 31, 2022 and include all workers with available amounts in active and inactive accounts. The property must have been financed by the Housing Financial System (SFH).

The possibility also extends to those who used the FGTS to make a down payment on their own home or to repay the debt less than two years ago. In order to take effect, the changes must be regulated within 30 days.

Real estate financing with FGTS

All homeowners financed using the FGTS balance are eligible for the SFH and must have a maximum value of R$ 1.5 million. In this modality, the maximum interest is 12% per year.

The use of the values ​​is possible both for the purchase of residential property and for the construction of one’s own home. As mentioned, it can also be spent on the settlement or amortization of the outstanding balance and the payment of installments.

To be able to carry out a real estate financing with the FGTS, there are some rules. Check what they are:

  • Have at least three years of payment to the FGTS;
  • Not having any active funding under the SFH;
  • Do not own another property in the city where you live or work, neighboring municipalities or the metropolitan region.

The property can be used or new, as long as it is for urban housing; and cannot have pending registration due to the seller’s debts. In addition, it must cost up to R$ 1.5 million, and its current owner cannot have any debt or name registered in the register of credit protection agencies.

The last requirement is that the property has not also been acquired with the FGTS balance in the last three years.

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