The price of the property is just the beginning. With a 30-year mortgage, Interest payments can cost more than the house itself e é ali, mais do que na negociação do preço, que dá para economizar de verdade.
This guide follows the buyer’s journey: how much to save for a down payment, the costs not listed in the ad, how to choose financing, how the FGTS fits in, when a consortium is worth it, auction discounts, and what to do after signing the contract.
The Essentials
- Compare the CET, not just the interest rate. It includes fees, insurance, and taxes, and the bank is required to disclose this information before you sign.
- With SAC, you pay much less interest overall than in the Price Table, in exchange for higher initial payments.
- The FGTS can cover the down payment, pay off the balance or cover up to 80% of the installments for 12 months.
- At a Caixa auction, any overdue condominium fees and property taxes become the buyer's responsibility — and the property may be occupied.
- After signing, you can get the loan to another bank with lower interest rates, without paying a transfer fee.
The down payment: how much you need to save
The Housing Finance System (SFH) applies to properties valued at up to R$ 2.25 million since October 2025. Under this program, the bank generally finances up to 80% of the amount, or up to 90% through the SAC system. The remainder is the down payment, which can come from:
- FGTS Balance, if you meet the requirements (see below)
- "Minha Casa, Minha Vida" Discount, for families with an income of up to R$ 5,000
- State Assistance for First-Time Homebuyers, such as Casa Paulista in São Paulo, for those with lower incomes
- Self-Sufficient Economies
Costs Beyond the Price
Before closing, add the city tax and notary fees to the property price. Some purchases are entitled to a discount guaranteed by law:
No money for the notary? At Caixa, you can include notary fees in your loan. Ask about this when you run a loan simulation.
Funding: SAC, Price, and CET
The interest rate advertised is not the cost of the loan. The number that matters is the TEC, the Total Effective Cost, which includes interest, fees, taxes, and insurance. According to the CMN Resolution No. 4,881/2020, the bank must provide the CET with detailed calculations before the contract is signed.
After the CET, choose the repayment plan. See the difference in a 300,000 R$ loan over 30 years, at 10% per year:
| System | 1st installment | Final installment | Total interest |
|---|---|---|---|
| SAC | R$ 3,333 | R$ 840 | R$ 451,000 |
| Price | R$ 2,633 | R$ 2,633 | R$ 648,000 |
With SAC, the principal is paid off steadily and the interest portion decreases month by month, so the payment amount goes down. With Price, the payment amount is fixed, and at the beginning, most of what you pay is interest. The calculation above does not include inflation adjustments, insurance, or fees, but it gives you an idea of the order of magnitude: almost R$ 200,000 difference.
An inflation-adjusted contract changes the bill. The Central Bank warns that a SAC adjusted for the IPCA does not guarantee decreasing installments. Ask for a payment simulation that includes this adjustment before signing.
Under the SFH, interest and financial charges are capped at 12% per year, not including insurance and fees. Get quotes from at least three banks and compare the CET.
Where the FGTS Comes In
To use FGTS funds for the purchase, according to the Box, you must:
- Have at least 3 years of work experience including FGTS, across all jobs
- Not having any active financing in the SFH anywhere in the country
- Not owning an urban residential property in the city where they live or work, nor in neighboring cities or cities in the same metropolitan area
- Buy a property valued at up to R$ 2.25 million
The FGTS is not intended for renovation, commercial or rural property, vacant lot, building materials, or a relative's house.
Lower interest rates under the housing program
The Minha Casa, Minha Vida program isn't just for low-income families. Higher-income groups can also obtain financing at below-market interest rates, with terms of up to 35 years. Nominal rates reported by the Ministry of Cities:
If the family's income is up to R$ 5,000, Brackets 1 and 2 offer even lower interest rates and a discount on the property's value—it's all in the guide to How to Get a Home Through the Government.
Consortium: interest-free, but no date set
In a real estate consortium, a group of people pays monthly installments, and each month, some participants receive a letter of credit to purchase the property. The Law No. 11,795 of 2008 He calls that self-financing.
Auctions and Direct Sales
The biggest discounts are on properties repossessed by banks and at judicial auctions. The Caixa is selling its real estate in different formats:
Read the rules before bidding. For a property purchased at auction, any outstanding condominium fees and property taxes (IPTU) are the buyer’s sole responsibility. In online sales, if the listing does not mention any condominium fees owed, Caixa covers them. And the properties are sold in their current state of occupancy and condition: evicting anyone living there is the responsibility and expense of the buyer.
In judicial auctions, the Code of Civil Procedure “Unreasonably low bids” are not accepted: since there is no minimum price specified in the notice, bids cannot be less than 50% of the appraised value. You can propose payment in installments—at least 25% up front and the remainder within 30 months, with the property itself serving as collateral—but an all-cash offer is always preferred.
Did you buy a property that needs renovations? O Casa Brasil Renovation Loans ranging from R$ 10,000 to R$ 50,000 at 0.99% per month, payable in 36 to 72 installments with no fees, for urban households with an income of up to R$ 13,000.
After signing up: number portability
Signing up doesn't tie you to the bank. By CMN Resolution No. 5,057/2022, the original bank is required to process the account transfer when you request it.
- Request quotes from other banks and compare the CET with that in the current contract.
- Place your order at the new bank. It is this system that sends the request to the original bank—and, starting in December 2025, also through Open Finance, with a response within 3 business days.
- Take a look at the new contract. Portability costs cannot be passed on to you, and SFH financing remains within the SFH.
Mistakes That Make a House More Expensive
- Choose installment financing instead of the CET and interest in total.
- Exclude ITBI and notary fees from the budget and find out the total only when you sign up.
- Bidding without reading the entire notice: occupancy, debts, and the auctioneer's commission.
- Relying on the FGTS for land, rural property, or renovations—it cannot be used in these cases.
- Joining a consortium in the hope of being selected right away and need the house before then.
Frequently Asked Questions
SAC or Price: Which One Should You Choose?
If the first installment under the SAC plan fits within your budget, it usually ends up being much cheaper overall and allows you to finance up to 90% of the property’s value. The Price plan starts with a smaller, fixed installment, but you pay more interest. For inflation-indexed contracts, ask for a simulation that includes the inflation adjustment.
Can I use my FGTS to renovate my house?
No. FGTS funds cannot be used for home renovations. For renovation projects, one option is the Reforma Casa Brasil program, which offers an interest rate of 0.99% per month for families with an income of up to R$ 13,000.
Can a property sold at a Caixa auction be financed?
It depends on the property. Each listing specifies whether the sale is for cash only, whether FGTS payments are accepted, or whether financing is available. Be sure to check before placing a bid.
Is there a cap on interest rates for real estate financing?
Under the SFH, interest, fees, and other financial charges are capped at 12% per year. Insurance and service charges are not included in this limit, so always compare the CET.
Is it worth switching to a different bank loan?
This applies when another bank offers a lower CET than the one in your contract. Portability is a right; the request is made at the new bank, and you cannot be charged for the transaction costs.
The order that saves money
- Add the entry and see if you can use your FGTS.
- Run simulations at at least three banks and compare the CET, not just the interest rates.
- Choose Customer Service if the first installment fits within the budget.
- ITBI and Notary Public Before making the offer—and, after signing, review it every year to see if switching is worth it.
Amounts and rules are in accordance with the regulations of the CMN, the FGTS Board of Trustees, Caixa, and the Ministry of Cities in effect as of October 11, 2026. Interest rates are subject to change: always check the bank’s loan calculator.
