What is the difference between SAC and Price in Brazil?

Under SAC (Sistema de Amortização Constante) the principal portion is the same each month, so the instalment starts high and falls over time, and total interest is lower. Under the Tabela Price the instalment is fixed for the whole term, starting lower but costing more interest overall. SAC is the most common system for Brazilian housing finance.

How much can I borrow for a home in Brazil?

Lenders such as Caixa typically finance 70% to 80% of the property value, so you need a deposit of 20–30%. The SFH programme caps the financed property value and offers lower rates; FGTS funds can be used toward the deposit for eligible buyers.

What interest rates apply to Brazilian mortgages?

Housing loan rates are commonly in the 8–12% per year range plus indexation (TR or IPCA), varying by lender, programme and your relationship with the bank. The effective cost (CET) bundles fees and insurance, so it is higher than the headline rate.

Why does the first SAC payment differ from the last?

Because SAC repays a constant amount of principal each month, the interest portion shrinks as the balance falls, so each instalment is lower than the previous one. The first payment is the highest and the last is the lowest.

Does this calculator store my data?

No. All figures are computed locally in your browser and nothing is uploaded, so your details stay private.

Brazil Mortgage Calculator

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This Brazil mortgage calculator models a home loan (financiamento imobiliário) under both the SAC and Price amortisation systems used by Caixa and other Brazilian lenders, so you can compare instalments and total interest.

How it works

The financed amount is the property price minus your down payment. The monthly rate is the annual rate converted: r = (1 + annual%)^(1/12) − 1.

SAC repays a constant principal each month: amortisation = balance₀ ⁄ n. The interest portion is balance × r, so the instalment amortisation + interest falls every month. Total interest is lower.
Price (Tabela Price) uses a fixed instalment from the standard amortising formula M = P · r(1+r)ⁿ ⁄ ((1+r)ⁿ − 1). Payments are level, but more interest accrues over the life of the loan.

Example

On a R$400,000 property with a R$120,000 deposit (R$280,000 financed) at 10% per year over 30 years, SAC’s first instalment is high and falls toward the last, while Price keeps every instalment equal. SAC’s total interest is meaningfully lower than Price’s for the same rate and term.

Notes

Real Brazilian contracts add TR or IPCA indexation plus mandatory insurance (MIP/DFI) and an admin fee, so the actual instalment (and the CET) is higher than this base estimate.
The SFH programme offers lower rates within a property-value cap; eligible buyers can apply FGTS balances to the deposit.
A larger deposit lowers the financed amount and the instalment across both systems.