A loan that is current can show two very different figures. One is the sum of the installments still listed in the app. The other is the amount the lender calculates to close out the loan on a specific day. The sum of the installments includes amounts scheduled for months when the debt would still be outstanding. The payoff amount reflects the fact that the loan will end early. Comparing the two figures helps you estimate how much you would avoid paying over the remaining life of the loan.
What Changes When You Pay Early
The decision affects your finances at different points in time. On the day you make the early payment, cash leaves your account. Paying off the loan in full closes it out and eliminates the remaining payments under the contract. With a partial repayment of principal, the loan stays open. The revised schedule may have fewer installments, or it may keep every due date and lower the amount you owe each time. Someone who has received an extra payment and has a steady income may be able to absorb the immediate outlay. Someone with the same loan and an irregular income may need some of that money to get through to the next time they get paid.
Before running a simulation, identify the problem you want to solve. If your budget balances and your priority is to reduce the total cost, compare the repayment schedules. If you come up short every month, check how much you will owe on the next due date. If your income fluctuates, also write down the lowest cash balance you expect to reach before the next money comes in. Those three measures can point to different choices even when the lender offers the same payoff amount.
Making an Extra Principal Payment, Paying Installments Early, and Paying Off the Loan Have Different Effects
Every installment that includes a principal portion already reduces the amount you borrowed. When you make an extra principal payment, an additional payment is applied to the balance used to calculate future interest, according to the rules of the loan. The contract remains open, and the lender may issue a revised schedule. If you have an overdue installment, interest that has already accrued, or another amount payable under the same contract, ask how the lender will allocate the extra payment among those amounts.
Paying installments early means settling specific installments before their scheduled due dates. The confirmation should show which installments were cleared and which are still outstanding. In a hypothetical loan with six due dates left, paying the fifth and sixth installments early could move up the date the loan ends while leaving next month's bill at the same amount. If your goal is to free up cash next month, check what happens to the payment due in that particular month.
Paying off the loan means settling the entire contract for the amount calculated for that payment. If the financing is secured by an asset, closing out the debt may also start a separate process to release the lender's security interest. In practice, check what the button in the app actually does or ask customer service to describe the transaction in writing. A label such as “early payment” gives you little detail about which installments will be cleared, how the balance will change, or when collections will stop.
How the Lender Calculates the Payoff Amount
Separate the principal still outstanding, the amounts already incurred, and the future payments. Principal is the part of the borrowed capital you still have to repay. Between installments, interest may accrue for the time that has elapsed since the last payment. There may also be an overdue installment with its own components. The future schedule, meanwhile, projects payments for the time the loan would remain active. The figures calculated for a given day can therefore differ from the figures immediately after your last installment was paid.
One way to understand the reduction is to work out what a future payment is worth on the payoff date. In a standalone hypothetical example with an effective interest rate of 2% per period and no other components, R$ 1,040.40 due in two periods is equivalent to R$ 1,000 today. The calculation reverses the way interest accumulates. Divide R$ 1,040.40 by 1.02, then divide the result by 1.02 again to get R$ 1,000. That calculation illustrates the time value of money. The figures for an actual contract depend on the calculation base, the due dates, and the method applicable to that loan.
In Brazilian consumer credit relationships, early repayment in full or in part involves a proportionate reduction in interest and other charges attributable to the period covered by the early repayment, in accordance with the applicable rules. Ask the lender to itemize the components and explain where each one comes from. An amount charged at the start of the contract, an overdue charge, and a charge scheduled only for future months each need to be examined in their own right. The calculation breakdown helps you determine which category each item falls into.
What to Ask For So You Can Review the Quote
Identify the loan by its contract number and tell the lender what day you intend to pay. Ask for the amount needed to pay it off in full, how long the quote is valid, and a calculation breakdown using the same reference date. If you can make only a partial repayment, state the most you can pay upfront and ask for the remaining balance and the full list of due dates after the payment. If you can choose between shortening the term and lowering the installments, request a simulation for each option using the same upfront amount.
Here is a request you can adapt. I would like a payoff quote for this contract for the day I will have the money available. Please send me the outstanding principal, the interest and charges already incurred, the payments included in the calculation, the reductions for amounts otherwise due in the future, and the date through which the quoted amount is valid. For a partial repayment, please also show how much of the payment would go toward principal, the amount of the next installment, and the complete repayment schedule after the payment.
Check the quote's reference date against your loan statement. If you paid the last installment and it is still being processed, ask whether the quote already accounts for it. Also check whether an automatic debit or a payroll deduction is scheduled for the same period. If one simulation includes the next installment and the other assumes you will pay it separately, put both simulations on the same footing before comparing the results. An apparent difference in cost may simply be a payment counted in one calculation only.
A Full Payoff Calculation for a Declining Balance
Consider a hypothetical loan with R$ 6,000 in principal outstanding immediately after the most recent installment was paid. Six monthly due dates remain, and each installment repays R$ 1,000 of principal. Interest is 2% per month on the balance at the start of each period. The example assumes full months, payments made on time, and no insurance, taxes, fees, or other charges. The first remaining installment is R$ 1,120, made up of R$ 1,000 in principal and R$ 120 in interest.
After the first installment, the balance drops to R$ 5,000. The second installment is R$ 1,100. The next four are R$ 1,080, R$ 1,060, R$ 1,040, and R$ 1,020. Together, the six installments come to R$ 6,420. That total consists of R$ 6,000 in principal and R$ 420 in interest. If the borrower pays off the loan at the starting point of the example, before any time has elapsed in the next period, the payoff amount is R$ 6,000. The nominal difference between keeping the original schedule and paying off the loan at that point is R$ 420.
The first installment would reduce the principal by R$ 1,000, even though R$ 1,120 would leave the borrower's account. Keeping those figures separate helps you check whether the lender credited the right amount to principal after a scheduled installment or an extra payment. It also explains why multiplying the example's monthly rate by the opening balance and by all six months would overstate the interest actually due. At each due date, part of the principal is repaid, leaving a smaller balance on which to calculate the following month's interest.
How to Read Contracts With Fixed or Variable Installment Amounts
The previous example uses constant amortization, so each installment repays the same amount of principal. In a fixed-rate loan with a level principal-and-interest payment, the two portions of the payment change over time. When the outstanding balance is higher, interest accounts for more of the installment. As the balance falls, a larger share of the same payment goes toward principal. Counting how many payment slips you have already paid therefore tells you little about how much principal remains. Look for a record of the balance over time or ask for a breakdown of each installment.
If a contract is tied to an adjustment index or a variable rate, the amounts shown for the coming months may be projections based on assumptions. A payoff quote has a defined reference date and uses the amounts calculated up to that point under the contract. To compare paying off the loan with keeping it open, record the index or rate used in the projection, when it is applied, and which part of the installment can change. If the installment comes with insurance or another charge, check whether that item is included in the projected installments and whether it appears in the payoff amount.
Imagine a hypothetical simulation that projects four installments of R$ 850, for a total of R$ 3,400, and gives a payoff quote of R$ 3,260. Under that projection, the difference is R$ 140. If an adjustment raised all four installments to R$ 880 each, their total would rise to R$ 3,520. The difference against the same quote would then be R$ 260, assuming you could still pay within the quote's validity period. These are two scenarios for the cost of keeping the debt open. When you actually make the early payment, use the payoff quote valid for that payment.
Nominal Savings, the Cost of Money, and CET
Nominal savings compare amounts paid in Brazilian reais without adjusting for when the payments occur. Add up what you would pay if you kept the current contract, then subtract the early payment and any payments you would still make under the option you are considering. Use the same reference date throughout and count each outflow once. If a confirmed additional cost is already built into the payoff quote, listing it again on a separate line distorts the comparison.
When the time between payments matters, you can put future payments on a common date using a net rate of return that reflects how accessible the money would be and the risk involved. In a hypothetical example with one due date, paying R$ 1,000 today eliminates a payment of R$ 1,050 one period from now. Suppose you could keep the R$ 1,000 available until the due date and it would grow to R$ 1,010. At that point, the amount you owe would exceed the money you had set aside by R$ 40. The nominal savings from paying early are R$ 50, while the comparison at the due date accounts for the R$ 10 the money could have earned in the meantime.
Brazil's Custo Efetivo Total, or CET, is the total effective cost of credit. It captures how the different components of the original loan affect its overall cost and helps you compare offers when taking out credit. When assessing a loan you already have, focus on the payments your decision can still change. An upfront expense you have already paid and for which no refund is provided affected the original CET. Its cost is the same whichever option you choose today. Use the payoff quote, the remaining installments, and the costs you can still avoid to make the current decision.
Shortening the Term or Lowering the Installment
Return to the hypothetical loan with R$ 6,000 outstanding, interest of 2% per month on the balance, and six remaining due dates. Suppose the lender lets you apply R$ 3,000 entirely to principal at the starting point of the example and then gives you two ways to recalculate the debt. In both options, the principal immediately drops to R$ 3,000. The schedules differ in how quickly you repay that remaining balance.
To shorten the term while continuing to repay R$ 1,000 of principal per month, your next installments would be R$ 1,060, R$ 1,040, and R$ 1,020. Together, they come to R$ 3,120. With the R$ 3,000 paid upfront, the total outlay is R$ 6,120, a nominal saving of R$ 300 against the original R$ 6,420. The first installment drops by just R$ 60. The bigger effect on your monthly budget comes after the third due date, when the final three payments from the original schedule are no longer due.
To keep all six due dates, the example instead repays R$ 500 of principal per month. The installments are R$ 560, R$ 550, R$ 540, R$ 530, R$ 520, and R$ 510, for a total of R$ 3,210. Including the initial R$ 3,000 payment, you spend R$ 6,210 and save R$ 210 in nominal terms. The first monthly payment falls by R$ 560, and the total cost is R$ 90 higher than if you shortened the term. In this simulation, that R$ 90 is the cost of having more cash available during the first few months. Use the lender's two repayment schedules to calculate the difference for your own contract.
How to Decide Which Installments to Pay Early
If the lender lets you choose individual due dates, compare what it costs to settle each installment early and what happens to the payments left on the schedule. Consider a hypothetical example with two installments of R$ 1,000 each, due in one month and two months, and a discount rate of 2% per month. On the early payment date, those installments would cost approximately R$ 980.39 and R$ 961.17, respectively. Under these assumptions, the later installment costs less to settle today because the discount is applied over a longer period.
The earlier installment may be the one putting pressure on next month's income. If you settle the later installment in the example, the R$ 1,000 due next month remains scheduled. If you settle the earlier installment, the later one remains. The two choices also require different amounts of cash today. If the lender lets you pay down principal directly, ask for a third simulation using the amount you have available. Compare how much comes out of your account now, which installments remain, and when the loan ends under each option.
If the loan has a grace period or a larger final installment, look at the entire schedule. The first payment may be small while the balance stays high for much of the term. Write down the largest upcoming payment and ask whether the extra payment reduces its amount, moves its due date, or changes other installments. When installments vary in size, a due date alone tells you little about how much you could save or which month would have more room in the budget.
Test Your Cash Position Against a Difficult Month
Return to the example in which paying off the loan costs R$ 6,000 and avoids R$ 420 in future interest. Suppose you have R$ 7,400 available after setting aside money for bills you already expect. Paying off the loan leaves R$ 1,400 in cash. If an urgent expense of R$ 2,400 comes up before your next income arrives and before the next installment would originally have been due, you are R$ 1,000 short. The timing matters because the date when you would have kept the money otherwise spent on that installment has yet to arrive.
Suppose covering the R$ 1,000 shortfall requires new credit that costs R$ 450 in interest and charges by the time you repay it. The urgent expense is the same whether or not you pay off the old loan. What changes is the cost of financing it. In nominal terms, the R$ 450 exceeds the R$ 420 saved on the old contract by R$ 30. If you instead put R$ 3,000 toward principal on the original loan, you keep R$ 4,400 in cash and have R$ 2,000 left after paying the urgent expense. The original loan remains open under whichever revised schedule you chose for the partial repayment.
To run your own test, write down the cash you can access, the essential bills due before your next dependable income payment, and an unexpected expense of a size that makes sense for your circumstances. Run the numbers again assuming your income arrives late. If the budget looks tight, simulate a smaller partial repayment and include the revised next installment in the same cash projection. An available credit line may help in an emergency, but whether you can use it, how much it costs, and how quickly you can get the money can all change just when your income falls.
When Several Debts Are Competing for the Same Money
Ask for the figures for each contract as of the same date and calculate what would happen if you applied the same amount to each debt. The interest rate, the remaining term, and the way the installments change all affect the savings. A large reduction in reais can also require a large upfront payment. A smaller debt may fit within the cash you have available and let you eliminate an installment that would strain your budget in the next few weeks. Record these differences alongside each debt's original interest rate and installment amount before deciding where the money should go.
As a hypothetical exercise, imagine that you have R$ 1,000 available beyond the money already set aside for essentials. Applying that amount to the principal of Debt A reduces the sum of its future installments by R$ 1,240 and lowers the next payment by R$ 40. Putting the same R$ 1,000 toward Debt B clears four future installments of R$ 280, worth R$ 1,120 in total, and eliminates a payment of R$ 280 next month. The nominal savings are R$ 240 on Debt A and R$ 120 on Debt B. If your budget for next month is R$ 200 short, paying Debt B closes the gap. Paying Debt A would still leave you R$ 160 short.
Consider the consequences of each late payment that looks likely. If a debt is secured by an asset you use for work, for example, assess what it would mean for you if you could no longer use that asset. The comparison also depends on which amounts are already overdue and what you would need to pay to bring each contract current. When available cash barely covers your existing obligations, ask how to bring each loan current as well as how a partial principal payment would work. That way, you can see which problem each proposed payment would solve.
How to Distinguish a Payoff Recalculation From a Negotiated Settlement
A quote may group different reductions under the word “discount.” For a full early payoff, the calculation proportionately reduces the interest and other charges applicable to the early repayment, and payment closes out the debt. In a partial repayment, reducing principal can lower future interest even if all the due dates stay the same. In a negotiated settlement, the lender may also agree to waive part of an amount already due. Ask for separate lines for the recalculation and the negotiated reduction. If you are behind, identify which installments are overdue, how much of the principal is past due, what interest and charges have been assessed, and whether the proposed payment closes the contract or simply brings it current.
In a hypothetical proposal, suppose the entire outstanding principal is R$ 3,000, including the part of the principal that is already overdue. On top of that balance, there is R$ 180 consisting solely of overdue interest and charges already assessed, plus R$ 240 in interest projected for future periods. Together, those items total R$ 3,420. If the payoff recalculation for the chosen date removes the R$ 240 in future interest, R$ 3,180 remains. If the lender also agrees to waive R$ 100 of the overdue interest and charges, that line falls to R$ 80 and the full payoff comes to R$ 3,080. The total reduction of R$ 340 consists of R$ 240 from the recalculation and R$ 100 from the agreement. The proposal should show the terms of each reduction separately.
If the lender offers to replace the debt with a new one, compare the entire new payment schedule. In a hypothetical example, eight installments of R$ 400 come to R$ 3,200. An offer of twelve installments of R$ 300 with no additional costs would come to R$ 3,600. It would free up R$ 100 at each of the first eight due dates, cost R$ 400 more in nominal terms, and add four payments after the original schedule would have ended. Check that the old contract will actually be closed out, whether you need to make an upfront payment, and whether any security interest or automatic debit arrangement carries over to the new loan.
Payroll-Deducted Loans, Account Debits, and Payments Already Scheduled
With a Brazilian payroll-deducted loan, known as empréstimo consignado, the lender calculates the payoff amount while the deduction from wages or a benefit goes through its own processing cycle. An installment may already be scheduled when you request the payoff quote. Ask whether the quote accounts for any deduction already submitted for processing, which deduction might still appear, and how the lender will reconcile the records if both the early payment and the deduction go through. Keep the loan statement and proof of the deduction so the two records can be compared.
If payments are automatically debited from your bank account, check what is scheduled close to the date you intend to pay. Ask the lender what event will stop collections and what happens if the payoff is processed after the next due date. Cancelling the debit arrangement yourself can leave an installment unpaid if the contract is still active. Likewise, when a scheduled debit disappears from the app, that change concerns the scheduled collection. Check the final loan statement to verify the status of the debt itself.
If the records show a discrepancy, ask the lender to reconcile them. Identify the contract, the payoff amount, your proof of payment, and the installment that was deducted. One possibility is that the quote was issued after subtracting the installment because the lender expected it to go through. Another is that the quote included the full balance and the deduction was posted afterward. The order in which the transactions were recorded helps distinguish the two cases and clarify whether you are due a refund or still owe an amount.
Secured Financing, Insurance, and Releasing the Security Interest
For financing secured by a vehicle, real estate, or another asset, treat repayment of the debt and the update to the security interest in the relevant registry as separate steps. Ask the lender to describe the release process, identify who submits the documents, and tell you where you can verify that the release is complete. If you plan to sell or transfer the asset, factor its status in the relevant registry into your plans. Schedule the transfer based on confirmation of the release and the documents required for that transaction.
Check whether any insurance or service was taken out alongside the loan. Ask what coverage or service appears in the installment, whether its term is tied to the loan, and what happens to the coverage when the debt ends. If there is a request for cancellation or a refund, confirm who handles it, what amount has been calculated, and whether any resulting credit is already included in the payoff quote. A financed premium may be part of the principal, while insurance billed monthly may appear on a separate line. Knowing how the charge is collected helps you interpret the statement.
In a hypothetical example, the remaining installments total R$ 9,500 and the payoff quote is R$ 9,050. Suppose those amounts exclude a R$ 120 charge for a third-party service to record the release of the security interest. If the charge legally applies to the transaction and is due both at the end of the original schedule and with an early payoff, the nominal totals rise to R$ 9,620 and R$ 9,170, respectively. The difference remains R$ 450, although the date you pay the charge may change. If the legal basis for the charge and the supporting documents show that the registry cost is legally due only with early payoff, the total for that option rises to R$ 9,170 and the difference falls to R$ 330. A fee for the early repayment itself is prohibited for contracts covered by Article 1 of Resolution No. 3,516 of Brazil's National Monetary Council (CMN) entered into by individuals, microenterprises, and small businesses. When reviewing a charge for releasing a security interest, identify who provides the service, which document supports the charge, what rules apply, and under which options the amount is due.
Verifying the Payment and Confirming the Loan Is Closed
Generate the payment request through the official channel you already use to check the contract, or contact the institution through a channel you know. Verify which loan the request is linked to, how much it asks you to pay, and how long it is valid. Before confirming a boleto payment or a Pix transfer, compare the payee displayed by your bank with the recipient shown in the institution's official channel. If the request names a company you do not recognize, confirm in writing who is authorized to receive the money and how the payment will be credited to your loan. This is particularly useful if you took out the loan through an intermediary or if the company administering it has changed.
Keep the quote, the calculation breakdown, the payment reference, and the receipt confirming that the payment went through together. A scheduled payment still has to be executed. If the quote expires or the payment remains pending or is returned, ask for updated figures before trying the transfer again. Use the receipt or confirmation you already have to establish what happened to the first attempt. This helps you avoid paying twice or sending only the difference between an old estimate and an updated balance.
After a full payoff, ask for a document that identifies the contract and confirms that the debt has been settled. Compare it with the final loan statement and check the next billing cycle. After a partial repayment, ask for the statement showing how the payment was applied, the remaining balance, and the revised schedule. If the lender told you the term would be shorter, count the remaining due dates. If the lender told you the installments would be lower, check the amount of the next payment. If the loan was secured, follow the release of the security interest separately.
How to Handle a Calculation That Looks Wrong
Put together a comparison someone else can reproduce. Include the contract number, the reference date, the last confirmed payment, the item you are disputing, and the amounts shown in each document. For example, explain that an installment is marked as paid on the loan statement but still appears as outstanding in a calculation issued afterward. Ask the lender to explain whether the discrepancy comes from the dates used, payment processing, how interest was applied, or a duplicate entry. Request a corrected calculation breakdown if needed.
If two quotes differ without explanation, start by aligning their dates and assumptions. Between the two quotes, a payment may have been made, an installment may have fallen due, a contractual adjustment may have been applied, or the status of an installment may have changed. Compare the line items and ask what caused the specific change. If a charge is described simply as a closure fee or an administrative charge, ask who is charging it, what service was provided, how the amount was calculated, and which rule allows the charge for that loan. If the charge is for the early repayment itself and the contract is covered by the CMN prohibition, ask for a quote with the fee removed. If it is for a third-party service to record the release of a security interest, request separate documentation and check whether the amount is legally due under the option you chose and whether the quote already includes it.
If your initial inquiry goes unanswered, register the request and keep the protocol number. Escalate the discrepancy to the institution's ombudsman office, known in Brazil as the ouvidoria, or to the official consumer protection channel appropriate to your case. Send only the documents needed to address the dispute and use an official channel for personal data. While you are disputing the early payoff amount, check which installments are still due under the repayment schedule. Regular installments can fall due while a payoff quote is under dispute.
Record Your Decision on a Budget Worksheet
Set up three columns using the same reference date. In the first, keep the current repayment schedule. In the second, enter the full payoff amount. In the third, enter a partial repayment you can afford with the cash available. For each option, write down how much you pay now, how much cash remains accessible, what you will owe on the next due date, when the debt will end, and how much will still come out of your account across all remaining payments. If there are two ways to structure the partial repayment, give each schedule its own column. The worksheet lets you compare the scenarios even if the lender presents them in different formats.
Add a row for the lowest cash balance you expect to reach before your next income arrives. In the example with R$ 6,000 outstanding, paying off the loan eliminates the first installment of R$ 1,120. You see the benefit of that avoided outflow on the date the installment would have been due. The partial repayment that lowers the installments brings the next payment down to R$ 560 and requires R$ 3,000 upfront. Putting the events in the order they occur helps you work out whether the problem is the cost over the next six months or having enough cash over the next few days.
Once the lender posts the payment, update your budget to reflect the charges that have actually been removed. If the loan ended early, mark the first due date on which a payment was eliminated. If the installment fell, replace the old amount with the new one starting in the month the lender confirmed. That lets you see how much room you actually gained in your monthly budget and decide what to do with it, such as rebuilding the cash you used for the early payment or setting money aside for an expense you know is coming. If you choose to keep the loan as it is, keep the quote for reference and get updated figures when you decide to compare the options again.
Frequently asked questions.
The app shows one balance and customer service gives me a different amount to pay off the loan. Which should I use?
To make the payment, use the official payoff quote valid for the day you choose, after checking what it includes. The app might show the outstanding principal, the sum of all remaining installments, or figures calculated before a recent payment. Ask what each figure represents and which reference date it uses. If both channels say their figures will pay off the same loan on the same day, ask the lender to reconcile them in writing before you pay.
Can I make small extra payments in different months?
Ask the lender how to make a partial repayment and confirm how each payment will be recorded. In a hypothetical example where the entire R$ 300 goes toward principal, the statement should show the R$ 300 reduction alongside the other transactions on the loan. In a month when interest has already accrued or a payment is overdue, the money may be allocated differently. Check the outstanding balance and the revised schedule after each payment is posted, especially if you are counting on a lower installment the following month.
Can I tell how much I will save just by looking at the interest rate in the contract?
The rate helps you understand the cost per period. Your savings in reais also depend on the principal still outstanding, when payments would otherwise fall due, and which amounts the early payment eliminates. Compare the valid payoff quote with the sum of the remaining installments to measure the nominal difference. If the contract has variable payments, identify which figures are projections and compare the results under more than one assumption. Use the original CET to understand the terms on which you took out the loan, and base your current decision on the payments that remain.
Will paying off my loan early change my credit score?
The loan's record may be updated once the payoff information is processed. Your score depends on the scoring model and other information in your credit history, so this payment alone gives you no reliable way to predict a specific change in your score. For the financial decision, use figures you can verify, such as the interest you would avoid, the next payment due, and the cash you would have left. If the loan still appears as active or overdue, check the document confirming payoff and request a correction through the appropriate channel.
Can I use money from the FGTS to pay off the debt?
Your balance in Brazil's FGTS, the workers' severance fund, can be used directly only to reduce the principal of or pay off eligible housing financing. Check with the official channels and the agent handling the financing to confirm whether you and the loan meet the conditions, how much can be applied, and at what point the money is included in the calculation. To pay off a personal loan, budget using cash that is already available. If you have made a withdrawal allowed under the FGTS rules, you can use the proceeds like any other money in your budget once they are actually available to make the payment.
What happens if I pay on the day the quote expires but the payment is processed later?
Confirm which event the lender uses to determine when the payment counts as made, such as when it is executed or when it is recognized through the channel you chose. Check whether a processing cutoff time applies. Keep the receipt showing the date, time, and payment reference. If a residual balance appears, ask the lender to reconcile the transactions and explain the difference before you pay again. If the payment is rejected or returned, request an updated payoff quote.
Can I pay off the loan with another loan?
Compare the future payments on your current contract with the upfront payment, installments, charges, and terms of the new credit. A smaller installment may come from a longer term and increase the total you pay. If the new loan is secured or has a variable rate, include what would happen if you lost income or the installment rose. Also check how the funds will reach the original lender and what document will confirm that the debt has been settled. This lets you compare the costs on the basis that the new loan actually replaces the old contract.
References and context
Institutional reference points for checking applicable rules and guidance. Calculations and scenarios are original examples, not quotes, historical results or individualized recommendations.
- Código de Defesa do Consumidor, arts. 39, 52 e 54-B ↗
- Banco Central — Resolução CMN 4.881 ↗
- Banco Central — Resolução CMN 5.004 ↗
- Banco Central — Resolução CMN 3.516 ↗
- CAIXA — Utilização do FGTS na casa própria ↗
AI-assisted educational content. Decisions require verification of the information, instruments and providers in each actual case.
