Caixa Econômica Federal Launches Subsidized Home Renovation Financing to Aid 1.5 Million Brazilian Families
Caixa Econômica Federal has launched the Reforma Casa Brasil program, offering subsidized home renovation loans to families earning up to R$ 9,600 monthly, with R$ 30 billion allocated to assist 1.5 million households across Brazil.
- • The Reforma Casa Brasil program offers subsidized home renovation loans to families earning up to R$ 9,600 monthly.
- • Loan amounts can reach up to R$ 30,000 with repayment terms from 24 to 60 months, and interest rates vary by income bracket.
- • The program aims to benefit 1.5 million families nationwide and is part of the Minha Casa, Minha Vida initiative.
- • Credit is disbursed in two phases: 90% at contract signing and 10% after renovation proof is submitted.
Key details
Caixa Econômica Federal has opened applications for the Programa Reforma Casa Brasil, a home renovation financing initiative targeting Brazilian families with a monthly income of up to R$ 9,600. Launched on October 3 as part of the Minha Casa, Minha Vida program, it allocates R$ 30 billion to support renovations through favorable loan terms. The program divides applicants into two income brackets: Faixa Reforma 1 for those earning up to R$ 3,200, who benefit from a monthly interest rate of 1.17%, and Faixa Reforma 2 for incomes between R$ 3,200.01 and R$ 9,600, with a 1.95% interest rate.
Eligible families can obtain loans up to R$ 30,000 with repayment stretched over 24 to 60 months. Credit is issued in two parts—90% at contract signing and the remaining 10% after the presentation of renovation completion photos. The funds may be used for purchasing construction materials, hiring labor, and technical guidance for various home improvements such as roof repairs, flooring, and accessibility enhancements. The program aims to assist 1.5 million families nationwide.
Families earning above R$ 9,600 have access to a separate financing option with property guarantees, offering loans starting at R$ 30,000 and terms between 60 and 180 months at interest rates from 1.33% to 1.95%. Applications can be made online through Caixa's website and finalized via the bank’s app or branches, especially for families with multiple earners or those without bank accounts.
This government initiative seeks to stimulate home improvement efforts among moderate-income families, addressing both housing quality and social welfare in Brazil.