FGTS facilitates entry and payment of home ownership

Conquering your own home is the dream of many Brazilians. And for that, the FGTS resource can be a good gateway. In short, it is a right guaranteed to every Brazilian worker, who has a formal contract. However, the amount available in the fund can only be withdrawn in some specific situations. Including, for the purchase of their own home.

See how to use the FGTS to pay off a mortgage loan

Caixa Financing: FGTS facilitates home ownership and payment

The FGTS is a resource that is available in specific situations, such as, for example, to buy a house. In this way, the money can be used at the entrance to the property, including the total payment, depending on the account value.

Furthermore, every month, employers are committed to deposit 8% of their salary into the FGTS. The amount goes to the accounts in the name of each employee at Caixa. In general terms, the FGTS is a guarantee that workers have in case of unfair dismissal. When fired, the person has access to the full draft. The same goes for proof of home purchase.

As long as the money stays in the worker’s account, the government can use the amount. However, whoever has money from the FGTS, the financing contract must be signed within the Housing Finance System (SFH).

Finally, there are two ways to use the FGTS to pay off mortgages for a residential property. One of them refers to full discharge. That is, closing the payment and having to pay monthly installments. Those who do not have enough FGTS balance to pay all the mortgage can pay only part of the debt.

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