It is estimated that 7 out of 10 properties in Brazil are available to obtain Property Guaranteed Credit; Hiring can be done over the internet.
Common in countries like the United States, Secured Credit is a still timid operation in Brazil. Estimate made by fintech paranaense DCredi, a member of the Parigui Financial Conglomerate, indicates that 70% of Brazilian real estate can be presented as collateral by owners seeking credit. This type of operation, in practice, acts as a real estate refinancing, and can ensure access to credit with interest rates up to 80% lower than overdraft and card revolving, two of the most common credit operations among Brazilian consumers. .
According to Maria Teresa Fornea, one of the founders of DCredi, the Brazilian’s resistance to the operation bars in the cultural component. According to her, in Brazil there is still the idea that the sale of the property as collateral in credit operations presents high risk. “It is common for people to compromise their income, and the property itself, by contracting credit lines with high rates and shorter terms. In the end, they are at greater risk of losing their assets without realizing it, ”he says.
The US market shows that this fear does not hold. In the United States, where Home Secured Credit is more widespread, the volume of credit available to individuals and small and medium enterprises is 35 times higher than in Brazil. Nevertheless, Brazilians are twice as indebted as the US. This scenario is due, according to Maria Teresa, precisely because the most popular credit operations in Brazil have very high interest rates and shorter debt repayment terms.
To reverse this scenario and to meet the potential of the Brazilian market, DCredi emerges as a fintech specialist in Real Estate Credit products. Fintechs (a junction of the words financial and technology) are new companies in the financial sector that propose a new way of relating to money through the intelligent use of technology. In the case of DCredi, this fintech orientation is what made it possible to create a platform in which clients can contract mortgage and mortgage loans, as well as investments, over the internet.
For the customer, the 100% online process has the advantage of a reduced time to release the funding. If all documentation is presented correctly, the credit can be released in up to 10 business by DCredi. Much shorter than traditional banks, whose processes for crediting real estate as collateral can easily take three to four months.
Another important differentiator of Secured Credit
It is its free use: Credit can be used to pay off more expensive debt, to finance the purchase of a high value property, a trip, or to build or renovate a property – including that one. presented as a guarantee. Liberal professionals and small and medium-sized entrepreneurs can also borrow money to invest in their business, from working capital to expansion project investments. DCredi’s uncomplicated income approval, which makes combined analysis of financial moves – such as Individuals and Legal Entities – makes this credit operation even more interesting for these professionals.