As we have already said, the formal employees of the country have various legal benefits, among which are the Social Security for medical attention and weekly contribution for retirement savings, as well as for apply for a home loan.
The latter is in charge of the Institute of the National Workers’ Housing Fund (Infonavit), an entity in charge of provide loans and mortgages for employees listed on the Mexican Social Security Institute (IMSS).
Although to national level the Infonavit is recognized for providing housing loans, the reality is that it also has loans to get money and build your own home or to remodel the house in which you are, as well as to acquire your own land; That is why here we will tell you how you can get support for these objectives.
If you are interested in a Infonavit credit for remodelingyou should know that there are two ways to obtain them, which we will talk about next.
traditional credit
You can request a traditional credit, with which Infonavit will take as a guarantee of housing and the Savings from your Housing Subaccount. The amount of lremodeling will depend on the project you have in mind, the value of your house and the amount of money that accumulates in your Subaccount.
Take into account that this credit has a annual interest rate is 12 percent and the monthly discount cannot exceed the 25 percent of your salary. You can request a higher amount, if you carry out a procedure together with your spouse or partner.
Credit Mejoravit
Another option is to request support to remodel your home through MejoravitIt is loan through a bank and you will be able to use it through a card, with which you will only be able to buy in stores with which the agreement exists, there you will be able to acquire construction materials and other elements for remodeling.
You must take into account that the maximum loan is 138 thousand 649 pesoswhile the minimum amount will be 4 thousand 972 pesos. The number of payments will depend on the term you choose, and the payment cannot exceed 20 percent of your salary.
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It is important that you take into account that this type of loan has a annual interest rate of 13.1 percentdoes not apply to the spousal credit, and 20 percent of the credit can be used to pay for labor.
Infonavit requirements
- Be entitled to Infonavit
- Have a current employment relationship.
- Have 1080 points in the Infonavit prequalification.
- Three month term to prequalify
- Not having previously obtained a credit with infonavir.
- Obtain credit approval from the bank.
- Sign the Irrevocable Instruction letter.
