Down Payment in Installments for Off-Plan Apartments

A down payment in installments (payment plan) happens when the developer splits the initial deposit into a few payments, such as 4 or 6, instead of requiring a lump sum at signing. It lowers the initial cash needed, but does not change the total price of the property: the remainder goes to construction installments, balloon payments, and the balance due at the handover of the keys.

By Lucas Baêta. Updated on October 4, 2026.

How It Works

When buying off-plan, the first payment is the down payment. In new launches, it is common for the developer to divide this down payment into a few monthly installments, such as 4 installments of R$9,000 or 6 installments of R$6,000. After that come the monthly construction installments, annual or bi-annual balloon payments, and the remaining balance due at the handover of the keys.

Run the numbersINCC calculator for off-plan installmentsINCC-M over 12 months: 6.61% (FGV)Open the calculator

Cash Flow Simulation

Simulation with hypothetical numbers just to demonstrate the structure: property worth R$900,000; down payment of R$36,000 split into 4 installments of R$9,000; 36 monthly construction installments of R$3,000 (R$108,000); 3 annual balloon payments of R$40,000 (R$120,000); remaining balance of R$636,000 at key handover. During construction, values are updated by the INCC (Brazil's national construction cost index), so the final sum will exceed R$900,000.

What to Check on the Price Table

The total sum of all payments up to key handover, not just the down payment.
The correction index applied during construction (usually the INCC) and after handover.
The final balance due at key handover and how you plan to pay it: cash, bank financing, or direct installment plan with the builder.
Whether the payment condition applies to all units or just selected ones.

Who It Makes Sense For

For buyers with sufficient income to cover monthly construction installments who want to secure a unit early in a new launch without making a large lump-sum payment upfront. For buyers who do not have a plan to settle the balance at key handover, a flexible down payment does not solve the main issue: plan for the final balance before signing.

Payment terms for each new launch are set by the developer and may change without prior notice. During an online investment consultation, the specialist presents the current price table for each development.

Run the numbersFinancing the handover balance: SAC or PriceAverage home loan rate: 11.28% a year (Central Bank of Brazil)Open the calculator

Frequently asked questions

Does a down payment in installments make the property cheaper?

No. It alters the initial payment schedule, not the total price. Whatever amount is not paid upfront will be added to the subsequent construction installments or to the final balance at handover.

Is the down payment in installments adjusted by the INCC?

It depends on the contract. Generally, construction installments are updated by the INCC (Brazil's national construction cost index) starting from contract signing. Check the summary of terms for details.

Can I use FGTS for the down payment on an off-plan apartment?

FGTS (Brazil's mandatory severance fund) can only be used under specific conditions, such as for a buyer's primary residential home, under Caixa rules. For investment or vacation property, it generally does not apply.