The Institute of the National Housing Fund for Workers (INFONAVIT) continues to reinforce its commitment to guarantee the right to decent housing for Mexicans, through a wide range of accessible financing schemes and adapted to the different needs of workers.
Currently, the organization not only allows the purchase of a new or used house, but also offers loans to build on one’s own land, acquire a lot, remodel the home or even add financing with family, friends or a partner to obtain a greater amount.
One of the most requested programs is Spousal Creditwhich allows married couples to pool their incomes to access a higher loan.
It is even possible to combine resources when one of the applicants contributes to the Fovissstethus facilitating the acquisition of joint housing. In this scheme, both signatories become owners and co-responsible for payment.
For those who want to share the dream of having a home with someone other than their partner, there is Let’s join creditsan alternative that allows you to pool financing with parents, children, siblings or friends.
In this case, each credit is evaluated individually, so it is necessary that both participants have a favorable prequalification.
Another increasingly popular option is Crediterreno Infonavitideal for those who want to build their house from scratch.
This product allows you to use the savings accumulated in the Housing Subaccount and combine it with the authorized financing: 35% to purchase the land and 65% for the construction.
For those who already have a home, but want to improve it, the institute offers different alternatives under the program Improve your Homewhich allows you to carry out everything from minor repairs such as painting or waterproofing, to more in-depth remodeling or incorporating new technologies.
Within this category stands out Mejoravita credit intended exclusively for the purchase of materials. The maximum amount is 163 thousand 030 pesos and the money is deposited directly into the beneficiary’s bank account, without intermediaries.
Likewise, there is Equip your Housea complement to the mortgage loan that allows you to improve, repair or install sustainable equipment when contracting financing for the purchase of a home. In this case, The maximum amount is 68 thousand 789 pesoswith an interest rate that ranges from 3.50% to 10.45%, depending on the worker’s income level.
One of the biggest attractions of Infonavit compared to banks is that does not request a down payment to grant the credit and also offers the lowest interest rates on the marketmaking it easier to access wealth even for those with modest incomes.
The financing is designed to adjust to the worker’s payment capacity, which allows stable monthly payments to be maintained and avoid over-indebtedness.
The process to exercise an Infonavit credit is simple. The steps are as follows:
- Check the points and the amount available on the My Infonavit Account portal.
- Take the free course “Know more to decide better”a mandatory requirement that guides the responsible use of credit.
- Integrate the file and go to an Infonavit Service Center (Cesi).
- Select a notary public authorized by the institute.
- Obtain proof of creditwhere the conditions and deadline to formalize the process are indicated.
- Review the “Discount Notification” in My Infonavit Account and request confirmation of the credit from the employer from the Business Portal. If the company is not registered, you must sign and seal the Origination Withholding Notice, which is delivered to the notary.
With these programs, Infonavit reaffirms its role as one of the most important pillars for housing in Mexico. Whether buying, building or remodeling, the institute offers flexible solutions that adapt to the goals of each worker, boosting not only access to wealth, but also the well-being and quality of life of millions of families.
