Online mortgage financing

Lu Miranda_247 – Who hasn't wandered from bank to bank in search of credit approval or lower interest rates on a mortgage? In the search for your own property, the most exhausting phase is the long wait to speak with a bank manager and the bureaucracy involved in gathering documents and proving income. What many prospective borrowers don't know is that there's an online service that saves a good portion of the effort involved in this entire process. These are websites specializing in connecting clients with financial institutions. Through credit simulations, these companies find the best interest rates on the market for each income profile. And there's an added bonus: the service is free!

This service, already known in European countries and the United States, is a novelty in the Brazilian market. Canal do Crédito is a pioneer and has already served 10 people interested in simulating their home financing free of charge. The website is part of a venture capital group and receives a percentage from the financial institution for each deal closed. “In the bank model for remuneration of credit granting, alternative channels receive payment based on the high volume of transactions they generate,” says Marcelo Prata, creator of Canal do Crédito. The percentage he receives, however, is kept confidential. Today, real estate financing represents 4% of Brazil's GDP. In 2014, it will be 10%, projects the Brazilian Association of Real Estate Credit and Savings Entities (Abecip). Credipronto, a partnership between the real estate company Lopes and Itaú Unibanco, is another company that offers free consulting services for obtaining real estate financing, but exclusively for those two brands.

The first step in simulating a loan is to provide the property value, financing term, down payment amount, and age. Based on this information, it's possible to get an idea of ​​the initial and final installments and whether these payments will fit within your budget. After this phase, which doesn't yet define the final prices, registration data is requested so that the company can then carry out an evaluation. In this study, the client will know which bank offers the best deal on the mortgage. The company handles the entire process of documentation, evaluation, and approval (or not) of the loan until the money is released into the seller's account. In both cases, the client's income and the property value are irrelevant. Although the data is submitted online, confidentiality is guaranteed. The client's personal information is protected and remains only with the service provider and the bank. Salaries up to R$ 4,9 and properties up to R$ 170 may qualify for financing with FGTS funds, with lower interest rates. Above these profiles, companies seek other credit lines.