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16h ago

Brazil Launches R$40 Billion Home-Repair Credit as Lula Presses for Rate Cuts

Designed to reach low- and middle-income homeowners, the plan offers monthly rates from 1.17% with digital applications opening November 3.

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Lula defendeu a redução da taxa de juros pelo BC e afirmou que está preparando o país para uma “política monetária mais séria”.
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Overview

  • The Reforma Casa Brasil program combines R$30 billion from the Social Fund with R$10 billion via Caixa/SBPE to finance repairs, adaptations and small expansions of existing urban homes.
  • Families earning up to R$9,600 can borrow from R$5,000 with repayment up to 60 months, installments capped at 25% of income, and only one active operation per family.
  • Monthly interest is 1.17% for incomes up to R$3,200 and 1.95% for R$3,200.01–R$9,600, with FGHab backing the lowest bracket; for incomes above R$9,600, Caixa sets terms starting at R$30,000 over up to 180 months.
  • Contracting starts online through Caixa’s website and app on November 3, with initial service limited to capitals and municipalities above 300,000 residents, and eligibility focused on homeowners facing structural or accessibility deficiencies.
  • The government set an initial goal of 1.5 million contracts and framed the measure within a broader pro-credit agenda, as President Lula publicly urged the Central Bank to start cutting the 15% Selic.