BR Brazil · Housing affordability
How much house can I afford in Brazil?
A household in Brazil with gross income of BRLa year, with BRLin savings available, can afford ...
Maximum purchase price . Comprometimento de renda test
BRL 314k
Bound by your income (30% rule) · BRL 251k mortgage on BRL 63k down
The two rules
Brazil has two rules. Both must be met.
Every Brazilian bank enforces the comprometimento de renda — your monthly payment cannot exceed 30% of gross income. And under the SFH system, Caixa finances a maximum of 80% of the property value, requiring a 20% down payment.
30%
Maximum comprometimento de renda
Total monthly mortgage payment — principal, interest, and mandatory insurance (MIP + DFI) — cannot exceed 30% of gross household income. This is a hard cap, not a guideline.
payment <= income x 0.30
20%
Minimum down payment (entrada)
Under the SFH system, Caixa and other major banks finance up to 80% of the property value. You need at least 20% as entrada. FGTS can be used for properties up to R$1.5M.
entrada >= 0.20 x price
Have a place in mind?
Drop in a price and see where it fails.
Each test is independent: you need to clear both. The 30% income rule limits your monthly payment; the 20% down payment rule ensures you have enough entrada.
BRL
1 of 2 tests fail.
30% income ruleshort BRL 33k
You have BRL 120k/yrNeed BRL 153k/yr
20% down paymentpass
You have BRL 80kNeed BRL 80k
The lever you can actually pull
Two ceilings. Whichever is lower wins.
With your savings fixed, the price you can afford scales linearly with income — until the down payment rule starts to bind. Above the kink, more salary will not buy you a bigger place; more savings will.
What you can affordIncome limit (5.6× gross)Total down (5× cash + pension)
Your monthly budget
What you would actually pay each month.
Brazil uses the actual rate — no stress test. Your monthly payment at 11% over 30 years is what you qualify on and what you pay. Mandatory insurance (MIP + DFI) adds to the total.
Monthly headroom
0
The stress test charges you 1.0× what you will actually pay. That spread is what you have, in theory, to absorb a rate cycle, or invest, if you would rather.
Where this lands you
Median apartment, by city.
Your purchase-price ceiling (drawn in cyan) cuts across the price of a typical apartment in Brazil's largest cities. Cities above the line are out of reach without more income or more savings.
Sao Paulo
BRL 650k
Florianopolis
BRL 700k
Rio de Janeiro
BRL 550k
Brasilia
BRL 520k
Curitiba
BRL 640k
Belo Horizonte
BRL 580k
Porto Alegre
BRL 450k
Recife
BRL 460k
Salvador
BRL 440k
Fortaleza
BRL 490k
Within reachOut of reachYour ceiling · BRL 314k
Before you sign
This is probably the largest financial commitment of your life.
A home purchase is not just the price tag. There are significant costs on top that are not included in the affordability test above.
2-3%
ITBI (property transfer tax)
The Imposto sobre Transmissao de Bens Imoveis (ITBI) is a municipal tax charged on property transfers, typically 2-3% of the assessed value. Paid at the time of purchase, before the deed is registered.
~1%
Registro + escritura
The property registration (registro) and deed (escritura publica) fees are set by state fee schedules (custas cartorariais) and typically run about 1% of the property value. Required to formalize ownership.
R$/month
Condominio + IPTU
Monthly condominium fees (condominio) in Sao Paulo average R$800-1,500 for a standard apartment. Annual property tax (IPTU) varies by municipality but adds another significant cost not included in the mortgage payment.
None of this means you should not buy. It means you should go in with open eyes. The affordability test tells you what you can do. Whether you should depends on how long you plan to stay, your alternative investments, and the local market dynamics.
For scale
What else costs about BRL 314k?
- A new VW T-Cross Comfortline · BRL 130k2.42×
- A sitio (country house) in the interior of Minas Gerais with 2 hectares · BRL 250k1.26×
- A new Toyota Corolla Cross XRX hybrid · BRL 195k1.61×
- R$2,000/month invested at 6% real for 15 years (final portfolio value) · BRL 580k0.54×
- A 2-bedroom apartment in Fortaleza (Meireles neighborhood) · BRL 280k1.12×
- A new Jeep Compass Limited with 4x4 · BRL 210k1.50×
- A studio apartment in Sao Paulo (Vila Madalena, 35m2) · BRL 350k0.90×
- Four years of university tuition at a top private university (FGV/Insper) · BRL 320k0.98×
- A 3-bedroom apartment in Curitiba (Batel neighborhood) · BRL 450k0.70×
See the full income x down payment matrix
income (down) / savings (right)
BRL 30k
BRL 60k
BRL 100k
BRL 200k
30.000/yr
BRL 78k
income-bound
BRL 78k
income-bound
BRL 78k
income-bound
BRL 78k
income-bound
50.000/yr
BRL 131k
income-bound
BRL 131k
income-bound
BRL 131k
income-bound
BRL 131k
income-bound
80.000/yr
BRL 150k
savings-bound
BRL 209k
income-bound
BRL 209k
income-bound
BRL 209k
income-bound
120.000/yr
BRL 150k
savings-bound
BRL 300k
savings-bound
BRL 314k
income-bound
BRL 314k
income-bound
180.000/yr
BRL 150k
savings-bound
BRL 300k
savings-bound
BRL 471k
income-bound
BRL 471k
income-bound
Gross income used. Insurance not included.
Quartet . Portfolio trackerFree account
You have the entrada. Now grow it.
Track every account that feeds into your entrada: poupanca, CDB, FGTS, Tesouro Direto, brokerage — all in one place. We re-check your affordability against your live balances every night.
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Next steps
Tools and guides to get you there.
Mortgage calculatorBuild an amortization schedule with extra payments. See total interest and how fast you pay it off.CalculateSavings goal plannerSet your down-payment target and a deadline. We back-solve the monthly savings rate you need.PlanCompound interestSee how your down-payment savings grow over time. Visualize the difference one extra year makes.ProjectBuying your first homeA step-by-step guide covering down payments, mortgage options, and the true cost of homeownership.Read
Frequently asked
Brazilian banks cap monthly mortgage payments at 30% of the household's gross income. This includes the loan principal, interest, and mandatory insurance (MIP + DFI). Unlike some European countries, Brazil uses gross income — not net — as the reference base. This is a hard cap enforced by all major lenders including Caixa, Bradesco, Itau, and Santander.
SFH (Sistema Financeiro de Habitacao) covers properties up to R$1.5M with rates regulated by the Banco Central — currently around 10-11% for SBPE-funded loans. SFI (Sistema de Financiamento Imobiliario) covers properties above R$1.5M with market-rate financing, typically higher rates and stricter conditions. SFH loans can use FGTS for the down payment; SFI loans cannot.
Yes, the FGTS (Fundo de Garantia do Tempo de Servico) can be used for the down payment, to reduce the outstanding balance, or to lower monthly payments — but only for properties up to R$1.5M under the SFH system. You must have at least 3 years of FGTS contributions, cannot own another residential property in the same municipality, and the property must be for your own residence. Each employed worker has 8% of their salary deposited monthly into FGTS by their employer.
SAC (Sistema de Amortizacao Constante) has fixed principal payments, so total monthly payments start high and decline over time as interest shrinks. PRICE (Tabela Price) has fixed total payments throughout the loan — like a standard annuity mortgage in Europe. SAC means you pay less total interest over the life of the loan, but your initial payments are higher, which can limit your borrowing capacity under the 30% rule. Most Caixa borrowers choose SAC.
The Selic rate (Brazil's benchmark interest rate, set by the Banco Central's COPOM) indirectly influences mortgage rates. SFH/SBPE-funded mortgages are backed by savings deposits (poupanca), whose returns are pegged to the Selic. When Selic rises, banks raise mortgage rates to maintain their spread. At Selic 14.75% (May 2025), SFH rates run around 10-11%. Lower-income borrowers may qualify for FGTS-subsidized rates around 8%, which are partially shielded from Selic movements.
Portabilidade (mortgage portability) allows you to transfer your mortgage to a different bank offering better rates, without needing to sell or re-purchase the property. Regulated by Banco Central Resolution 4,292, the receiving bank pays off your old loan and issues a new one. This has become a powerful negotiation tool — when rates drop, borrowers can either port or use the threat of porting to renegotiate with their current bank. No prepayment penalties apply by law.
Minha Casa Minha Vida (MCMV) is Brazil's federal housing program for low- and middle-income families. It offers subsidized interest rates (as low as 4-5% for the lowest income bands), government subsidies on the purchase price, and relaxed FGTS rules. Eligibility is based on gross family income bands (Faixa 1: up to R$2,640/month; Faixa 2: R$2,640-4,400; Faixa 3: R$4,400-8,000). This calculator uses standard SFH rates — MCMV borrowers would qualify for even more than shown.