Ordinance increased the maximum family income to participate in the program in band 1 to R$2,850 and in band 2 to R$4,700
The president’s government Luiz Inacio Lula da Silva (PT) increased the income values so that more families participate in bands 1 and 2 of the program My Home, My Life.
The adjustment was published in the Official Gazette of the Union this Friday (9.Aug.2024) in an ordinance signed by the Minister of Cities, Jader Filho. Here is the full (PDF – 55 kB).
In band 1, the maximum amount to participate in the program increased from R$2,640 to R$2,850. The ordinance also readjusted the amount for band 2, which went from R$4,400 to R$4,700.
Read below the ranges according to monthly family income:
- track 1: monthly family income up to R$2,850;
- track 2: monthly family income up to R$4,700; and
- track 3: monthly family income up to R$8,000.
The lower the family’s income, the more subsidies they receive from the federal government to purchase the property, in addition to also having lower interest rates on housing finance.
Read the rates by income bracket below:
- track 1: interest rate varies from 4% to 5% per year;
- track 2: interest rate varies from 4.75% to 7% per year; and
- track 3: interest rate varies from 7.66% to 8.16% per year.
MY HOME, MY LIFE
The then president Jair Bolsonaro (PL) renamed the affordable housing program in 2021 as Casa Verde e Amarela. After taking office for his 3rd term, Lula revoked the law 14.118 and the benefit was once again called My House, My Life.
According to the government, housing can be offered in the form of a transfer, donation, lease, loan for use, rental or sale, with or without financing.
There are also requirements that prioritize the awarding of titles to women. Among others are:
- Families that include people with disabilities, elderly people, and children and adolescents;
- families in situations of risk and vulnerability;
- families in areas in emergency or disaster situations;
- families involuntarily displaced due to federal public works; and
- homeless families.
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