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To build or renovate, where to get money?

To build or renovate, where to get money?

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A question that plagues those planning the construction or renovation of a property is where to get credit with a low interest rate to make the long-awaited project feasible. An interesting option is to take advantage of credit lines that use resources from the Employment Compensation Fun

Among the various types of credit that use FGTS resources, many people end up opting for Construcard. The regional superintendent of Caixa Econômica Federal, Roberto Luiz Bachmann, reveals that, because of the facilities, he himself resorted to this type of financing to renovate the house.

“I myself used this credit line to renovate my house, because it is a really very interesting modality. Construcard is accepted in more than a thousand registered stores, ensuring flexibility in the choice of material suppliers. It works like a credit card, it's like having the money in your pocket to build or renovate”, he says. Also according to Bachmann, with the card it is possible to buy, in addition to construction materials, finishing items, such as built-in cabinets, solar heaters and even swimming pools, for example.

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Fees and terms

The payment term is up to five years and the interest rate is 2.4% plus the TR (reference rate) variation, which is around 0.10%, which attracts many people as it is considered a low rate. The total term for purchasing and paying for the materials is 60 months.

Those who take this loan have a grace period of two to six months to buy the materials that will be used in the work, the payment of the loan is made in a second step, during the remainder of the months. Who uses four months for purchases, will have 56 months for debt repayment, for example.

This type of financing ended 2011 with a volume of R$ 35.5 million, and the expectation is to double the result this year. “Due to the demand we had in the first two months of this year, the projection is to close 2012 with at least R$ 70 million financed by Construcard and reach the amount of R$ 1.1 billion (in the region alone) – added to the other lines of credit”, he says.

Construcard is only valid for purchases of construction materials by individuals and the minimum financing amount is R$1,000, the maximum loan amount is subject to the credit line user's ability to pay.

To apply for financing, the person must complete a registration, presenting proof of income and open an account at Caixa, if not already an account holder. As soon as the loan amount is approved, the person receives a pre-approved credit card, and can buy the materials by bargaining for the products, as the shopkeepers receive cash for the purchase.

Who has used

Seller Aleksandro Fernandes de Souza is in the second financing through Construcard. The first, signed three years ago, was to build the house where he lives; this time the loan is to buy the home's finishing products. “The card is very useful, because the purchase of materials is made at the cash price and there is a good payment period”, he says.

Another positive point is the attractive interest rate. “When I took out the first loan, the rate was even lower, but even so, the value is not frightening, because I compared it with those practiced in the market”, he says.

In addition, other lines that use FGTS resources are the Pro-Shareholder (finances land and construction - it is necessary to have an active FGTS quota for at least three years) and the FGTS Letter of Credit - Individual (combined with the federal government program My home, my life).


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