If you want a cheaper Infonavit credit you have to meet this requirement

In order to make the purchase of a home even more accessible for workers in the Mexican formal sector, the Institute of the National Housing Fund for Workers (Infonavit) has announced that its credits will be cheaper.

However, in order to access a cheaper housing loan from the Institute of the National Housing Fund for Workers (Infonavit), the worker will have to meet an essential requirementwhich is it?

According to what was recently made public knowledge by Infonavit, the reduction in the cost of housing loans granted by the Institute will only apply for the financing requested starting next Wednesday, May 1, 2024.

The above means, as the Institute made clear, that this new benefit for housing loans only It will apply to those who apply as of May 1, 2024, so those who have been processed before will not benefit from this measure, regardless of whether they are formalized in May or June..

Now, why will Infonavit credits be cheaper starting May 1 of this year? According to what was announced in its official communication channels, the organization will eliminate the administration fee, the opening commission, as well as financial expenses and operating expenses.

“With the elimination of these charges, the cost of Infonavit Credits, which currently have the lowest interest rates in the mortgage market, will be even lower,” the Institute highlighted in a statement published on its official social media accounts.

At this point it should be noted that the concepts that Infonavit eliminated from its housing loans are, basically, administrative expenses and procedures that workers must cover and that come with the financing.

Finally, we must not ignore the fact that Infonavit defines the amount of these expenses that the worker in the formal sector must pay for the requested credit depending on his/her monthly income.

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