Financing an apartment gives you many advantages, such as security in the acquisition of the property, the possibility to use FGTS and the guarantee of a good return in the future. But do you know how to finance an apartment step by step?

It is time to know the answer to this question and finally get your plans for this project off the drawing board. And to make your life easier and to simplify the analysis and procedures that need to be done, we have selected some valuable tips.

So, if you want to know how to finance the apartment of your dreams and finally get out of renting, without making mistakes throughout the steps, read on. Thus, you will be able to prepare well and ensure a happier future. Read on:

Simple steps to finance the apartment you want

We have selected the six main steps to finance the apartment you want to buy. Check each of them out carefully and, whenever you need it, ask for help from a professional to proceed with the investment.

Simulating the proposal

The biggest problem during the negotiation for a property is the lack of financial conditions to conclude the purchase of the apartment. This is a big slip of the tongue for a family that has not prepared adequately and that can lead to the closing of the deal.

So, in order not to lose the money for the down payment and other payments, it is necessary to resort to a simulation. Many construction companies already make available an application to do this process online. With the result, you and your family can better organize yourselves.

Special conditions and filling out the online proposal

It is essential to know if the property you want has any exclusivity. After all, there are government housing programs that provide lower interest rates for families who want to finance the apartment they have always wanted.

But each project has unique conditions and benefits, so it is necessary to know about them, since the amount that can be financed and how much you can pay changes and compromises your budget. So: analyze everything in detail!

After doing this and making sure that the value of the deal fits your income, go to the builder’s website to fill out the online proposal to finance the apartment. In it, you must offer data such as name, CPF and PIS numbers, telephone numbers, e-mail, education, and income.

But be careful not to forget any data!

Sending the necessary documents

To finance the apartment, it is also crucial to send a collection of documents, which vary according to each bank and each construction company. However, there is a list of basic documents for you to orient yourself:

  • RG and CPF;
  • Proof of marital status
  • Proof of income
  • Debt clearance certificate
  • FGTS extract;
  • Income Tax Return and bank statements from the last 3 to 6 months;
  • If using FGTS: copy of work permit, current FGTS statement, copy of income tax return;
  • If the buyer is a legal entity: RG and CPF documents of the partners, updated articles of association and/or bylaws, and FGTS Regularity Certificate.

Legal and credit analysis

Sending documents to finance the apartment is also a vital part of the credit and legal analysis process.

Basically, the financial institution will verify the income that has been declared, the buyer’s data, the condition of the property, the feasibility of granting credit, and the future lender’s status with credit protection agencies.

Meanwhile, in the legal analysis, a new detailed check is made of all the documentation provided in order to protect both parties in the transaction from any future headaches.

Until the time of release, this whole phase should take about a month and a half.

Appraisal of the property and technical visit

Evaluating the apartment is essential to know if it meets your expectations and the project presented by the engineer, architect, and the construction company at the beginning of the deal.

Yet another purpose of the technical visit is to ensure the good condition of the property and that there are no problems in the structure, such as infiltrations, lack of finishing, energy problems, etc. If everything is ok, a report will be elaborated so that the final stage can be started.

Financing contract and registry office

At the final stage of the steps on how to finance the apartment of your dreams, if nothing is missing, it is already possible to sign the financing contract and take it to the Land Registry Office for registration.

At this stage you will find new costs to deal with, such as payment for the registration and the Property Transfer Tax (ITBI). Pay everything, because you cannot close the contract with pending issues in your name.

End of the process and release of funds

With all the previous steps completed without fail, it is time to forward the contract registration to the banking institution that will handle your financing. Send a copy of the contract to the bank and make the financing available to the seller.

This can be done by current account deposit, money order, or DOC. Finally, just get the keys and start moving!

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