Housing loan from brazilian banks for a foreigner with permanent visa

Member since 29 August 2015

bala mohanActive member28 May 2018 03:00:59

Hello , Good day .
聽聽聽聽聽聽聽I am a marine engineer moving to brazil in 2 months with my brazilian聽 wife and kids . I have a valid viper ( permanent visa )issued to me from brazil embassy in india . I want to buy a house in brazil .
聽聽So , i have some queries if anybody can help with .
1. Can i apply for a housing loan as soon as i go to brazil with permanent visa
2. Will i ever get a bank loan in brazil from brazilian banks
3.what documents usually needed for applying a loan

Thanks and best regards ,
Bala mohan

sprealestatebroker ViP

Member since 01 May 2018

sprealestatebrokerViP03 June 2018 23:30:34

1288

The ods of getting a loan "fresh out of a boat" are not that good.聽 Like any place in the World, you would need to be around, at the same job/occupation for a while in order to qualify for a mortgage loan.

There are just way to few lending Banks in Brazil, so there is virtually zero competition amongst them聽 unlike the US market.聽聽Besides, the interest rates on most banks, except for CAIXA, are not that attractive, just yet.

You will need to put a considerable down payment, so that the loan officer and analysts see your application in a better light.聽聽

There are no subprime loans in Brazil. Most guaranteed loans on lower income applicants are based on Government Sponsored programs.聽 You are not in one of those, you are paying full market rates.

What makes house payments expensive are the interest rates, not the principal.聽

There is a reason why many Indians in the US forged tight knit ethnic based聽 lending networks in recent past.聽

Want to buy property, bring the cash, the dowry, and start passing the hat.