How to pay your partner loan faster at Infonavit?

The Institute of the National Housing Fund for Workers (Infonavit) has a wide variety of credit schemes for you to buy a house, land or remodel, but today we will focus on 'Let's unite credits'.

This type of loan provides the option to obtain up to 4,889,402 pesos to purchase a home between two people who have a direct relationship. You don't necessarily need a romantic partner, if you are single, you can too.

As first An essential requirement is that the other person is your sister, brother, father, partner or even a friend.. Keep in mind that you must have complete confidence in who your partner will become.

We repeat, this case is not necessary. Below we will tell you the rest of the Infonavit requirements to access 'Unamos Créditos'. We will also explain the benefits, interest rate and payment options.

Benefits

With this financing scheme you have three main benefits, although the main one is the maximum amount you can obtain as a loan: 4 million 889 thousand 402 pesos.

Another point in favor of this type of credit provided by Infonavit is its fixed interest rate ranging from 3.76% to 10.45%. What does it depend on? of the salary level of the couple who is about to carry out the procedure.

Finally, if joining your credit with another person makes you insecure, consider that each of those involved will own the house proportionally from their participation in the loan.

– Buy a new or existing home.
– Credit is 4 million 889 thousand 402 pesos.
– Fixed interest rate is differentiated according to salary level and ranges from 3.76% to 10.45%.
– Co-ownership of the home.
– Insurance.
– Life insurance and Payment Protection Fund for both.

Requirements

The first requirement is have formal employment. Simple, right?

The next thing is to make sure you are a valid candidate by entering the website 'https://micuenta.infonavit.org.mx/'. There you must create an account with your basic personal information.

Finally, take the 'Know More to Decide Better' course.

– Have a current employment relationship.
– Comply with the prequalification points. Check if you are eligible in My Infonavit Account.
– Take the online course 'Know More to Decide Better'.

How do I pay it faster?

There are two options:

– Advance payments or settle your credit without penalties.
– Subsequent employer contributions will be paid to the capital of your loan.

The first characteristic implies flexibility to, at any time, make additional payments or even pay off completely the outstanding balance of your loan without incurring extra charges or financial penalties as in other credit institutions.

The second means that any additional contribution made by employers of the people involved in the relationship will be directed towards reducing the principal debt of the credit instead of just covering the interest.

By paying down principal, couples will experience a faster decline in the total loan amount, resulting in a shorter repayment period and, ultimately, a lower total financing cost.

I am Juan Pablo Chaidez Aispuro, a graduate in journalism from the UAS who life led to specializing in content creation to generate traffic on different channels. Since I was a child I liked the news and being informed; today, I consider myself more of a publicist. I gained some experience in the Noroeste sports area and as a radio reporter at Informativo Puro Sinaloa. In 2020 I joined the ranks of DEBATE, months later I became a Web Editor at Debate.com.mx. I am an apprentice and passionate about music, I am also fascinated by photography, travel, gastronomy, technology, astronomy, multiplatform content creation and helping whoever possible with my work. I always have my sights set on the highest, but family and real friends come first.

see more