HomeNEWSHow to finance land Itaú: is it worth it?

How to finance land Itaú: is it worth it?

Building a home is the dream of thousands of people who want to start a family, and resorting to Itaú land financing can be a way out. The first decision is to choose whether you prefer a ready-to-move-in house or the second option, which is to buy the land.

Many choose the land not only because of the lower value, but because of the desire to build a totally unique place to live and put all the details you’ve always wanted.

If you identified yourself, the time has come for you to find out how Itaú land financing can help you.

What this article covers:

How to finance land through Itaú?

Itaú land financing can be requested completely online, on the website or application. First, you must do a simulation and send the proposal to the bank. After that, wait to receive the answer and then send the requested documentation for the credit analysis. You can follow everything through the app.

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Afterwards, the evaluation will take place and the contract will be issued to register with the notary after approval. When all these steps are performed, including registration at the notary, the credit is released in 3 working days (or less time).

What are the requirements to finance land through Itaú?

It is necessary to prove income, if you are financing with another person and you are married or in a stable relationship, the person participating in this financing must be your spouse.

Remember, the value of the installments must not compromise more than 35% of the family’s total income.

What is the maximum amount to finance land through Itaú?

A maximum amount is not applied, however, financing cannot exceed 90% of the value of the property. The minimum to finance is R$ 40,000 for residential properties, and R$ 50,000 for commercial properties.

How long does it take to get a loan through Itaú?

It takes from 9 to 30 days for an Itaú land loan to be issued. The credit is even approved on the same day, but the contract may take that period to be issued.

What are the rates for Itaú land financing?

There are two forms of fees. One is 9.10% plus the reference rate, where you will know from the beginning the value of all the installments of your financing, which is called a pre-fixed rate.

The other is with interest on savings, which varies with the yield on savings.

Benefits of Itaú real estate credit

Itaú land financing allows you to use the FGTS as input; include fees that have been charged at other stages (from the notary, for example); response in one hour or less for loans under $1.5 million; this service can be contracted online; and rely on the support of a specialist consultant in this area.

Is it worth financing property through Itaú?

For those who want to realize their dream and only own 10% of the total investment in the property, it may be the most viable option, as the amount to be financed is up to 90% of the value of the property.

Is it worth financing property through Itaú

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In the middle of the journey, it is normal to find fees to be paid and documents to be made. Which can lead to extra costs, which Itaú bank allows you to include in the financing.

In these two situations, it is indeed worth it, but it is interesting to evaluate other options to analyze the interest included.

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