Interest-Free Financing and Readjustments for Home Purchase

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Buy own house financed without interest. This opinion is the dream of the majority of the Brazilian population of low. Is there any possibility of getting credit for interest-free financing come true? Incredible as it may seem, there is a bill circulating that provides for the financing of own houses without interest or additions.

Grant full financing of the value of the new property in long term for housing, without interest increases and adjustments of the installments throughout the contracted plan period! This format of financing deals with the objective outlined in the “Own House Bill,” the purpose of which is to help low-income citizens who are in need of a “housing loan” without charging interest.

Who is idealizing this bill is Carlos Alberto Rotermund, real estate entrepreneur. “The proposal described in the texts of the project aims to offer interest-free financing for the D and E population, low-income families and those that private banks do not want to attend.”


Miracle of financial mathematics


Miracle of financial mathematics

In fact, this is not a miracle of financial mathematics, the system will follow a similar pattern as consortia, groups of 1,000 people or more will be formed, following a methodology established by the members of the group. “The value of home financing without interest and readjustments can reach R $ 500 thousand reais.”

 To release the money to buy the house, a large scheme is set up, but for this, the regulation of the fund-raising operation has to be done, it will be called the “Solidary Housing Revolving Fund” (FRSH), with the management organized by the 3rd sector.

Funding (cash) would be collected from private companies and the government to make the letters of credit available without the collection of interest and annual readjustments.

The project is mirrored in the Rouanet Law, this law creates tax incentives policies to enable private companies to direct part of the income tax due on cultural actions. The Self-House Bill seeks that similar policies be created, but aimed at the housing market.

Unlike other programs in the country and a similar project that already benefited about 600 people with only real estate properties farthest from capitals, in this project the borrower will be able to choose in which region he wants to buy his property to live in.

But another important detail, the Bill of the Own House is not assistencialista as everyone knows that is My House My Life. In this the person contemplated will have to pay the installments from the beginning until the end of the interest-free financing term chosen.

It is worth mentioning that the project has just over half a million signatures, however, for the law to go to the Senate vote it takes about 1.4 million.


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