The Institute of the National Housing Fund for Workers (Infonavit) took a significant step towards helping its beneficiaries increase their assets through the option to process more than one loan.
Now, the Workers with an active employment relationship will be able to obtain the number of credits they need with Infonavitas long as they meet some requirements, however, the biggest is that they have settled their previous financing.
This change, derived from the reform to the Infonavit Law approved in 2020its main objective is to address the real housing needs of people at various stages of their lives and provide them with the opportunity to increase their assets.
The available financing covers a wide range of optionsincluding the purchase of a new or existing home, the acquisition of land, the construction, improvement, expansion or repair of a home, and the payment of a bank mortgage loan.
It should be noted that the only products that They do not fall into the category of subsequent credits They are Infonavit Account + Bank Credit and MejOraSI, intended for independent workers without an active employment relationship with Infonavit.
Furthermore, in the case of the purchase of a home, financing will be granted under the same conditions in force as the first loan, with interest rates differentiated that range between 3.09% and 10.45%, depending on the income level of the beneficiaries.
How to request an Infonavit credit? | Requirements
If you are thinking about purchasing a home and want to obtain an Infonavit loan, it is important to know the necessary requirements to start the process.
Infonavit, the State social security institution in charge of providing affordable housing credit, offers several financing options. Here we explain how to apply for an Infonavit credit and what are the key requirements that you must meet:
Steps to request a loan:
◉ Access My Infonavit Account: The first step is to enter My Infonavit Account through the official website (micuenta.infonavit.org.mx). Once inside, you can explore the different credit options that Infonavit offers.
◉ Choose the type of credit: Select the type of credit that best suits your needs and financial situation. Infonavit offers various options, so it is important to choose the one that best suits you.
◉ Prequalify: Before formally starting the application, perform a prequalification to verify if you meet the required score for the credit product you want. This will help you determine your chances of obtaining financing.
Requirements to request an Infonavit credit:
Below, we present the key requirements that you must meet to request an Infonavit loan:
◉ Have settled the previous credit: It is important to have settled any previous credit, regardless of whether the guarantee has not yet been released.
◉ Not have penalties: During the term of your previous financing, you must make sure that you have not incurred penalties.
◉ Have a balance in the Housing Subaccount: The minimum amount required in your Housing Subaccount will depend on the type of subsequent credit you wish to acquire. Home equity loans do not require a minimum balance, but those that use the Housing Subaccount Balance do, and the amount will depend on the credit option selected.
◉ Meet specific criteria and requirements: Each financing option has its own eligibility criteria and requirements, make sure you meet them.
◉ Credit term: The credit term will be determined according to the financing option you choose.
◉ Age of the worker: The sum of the age of the worker at the time of origination and the term of the credit must not exceed 70 years for men and 75 years for women.
◉ Maximum discount: The maximum discount of the Infonavit credit must not exceed 20% of the monthly salary if the income is equal to or less than the current general minimum wage, or up to 30% if the income is greater than a current general minimum wage.
◉ Own resources: Depending on the financing alternative, you may need to have your own resources to cover the operation amount and associated expenses.
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