O Green and Yellow House Program was created to replace Minha Casa, Minha Vida. The initiative is aimed at the low-income population that wants to acquire their first home of their own.
What are the new rules for Casa Verde e Amarela?
Firstly, it is important to emphasize that the families that were previously part of Minha Casa, Minha Vida continue to have active contracts. This is because there was only one update of the program, which is still under the management of Federal Savings Bank.
Thus, among the novelties is the new subsidy for financing, which reaches 21.4% depending on the region, family income and population of the municipality, according to the Ministry of Regional Development.
The objective of the program is to facilitate the purchase of a home by increasing the number of homes. The measure has been in effect since June and is valid until the last day of the year. More than 400,000 units are expected to be contracted by the end of the subsidy.
Furthermore, it is important to note that the Federal Government has given the responsibility of carrying out the registration of citizens to the municipalities. Thus, beneficiaries need to be in some housing shortage, such as:
- Excessive densification;
- Temporary social rent;
- Precarious housing;
- Excessive rent burden;
- Street situation.
In turn, the selection will still give priority to single mothers who are heads of single-parent families, people with disabilities, the elderly and families with children or adolescents.
GREEN AND YELLOW HOUSE: Family income criterion
The social program divides its benefits into five different groups, according to family income, they are:
- Family income of R$ 2,400.00: interest of 4.75% per year (shareholder of FGTS will have an annual fee of 4.25%);
- Family income between R$ 2,400.01 and R$ 3,000.00: interest of 5.25% per year (FGTS shareholder has a rate of 4.75% per year);
- Family income between R$ 3,000.01 and R$ 3,700.00: interest of 6% per year (FGTS shareholder will have an annual rate of 5.50%);
- Family income between R$ 3,700.01 and R$ 4,400.00: interest of 7% per year (FGTS shareholder has a rate of 6.50% per year);
- Family income between R$ 4,400.01 and R$ 8,000.00: interest of 7.66% per year (FGTS shareholder will have an annual rate of 7.16%).
Casa Verde e Amarela also offers discounts of up to 47,500, depending on the region where the property is located, social factors and the contracting citizen’s ability to pay. In this way, the financing can be made in up to 35 years.
How to be part of the program?
To participate in the program, citizens can go directly to Caixa service stations or look for a construction company. In any case, it will be necessary to present personal documents and the desired property, a Caixa agency or Correspondent.
However, to finalize the process, the Caixa representative must carry out an assessment and determine whether the person can participate in the program or not. In case of doubt, just access the Casa Verde e Amarela website or go to a Caixa branch.