Infonavit Offers New Credit Option for Home Repairs and Air Conditioning Installation
The Institute of the National Housing Fund for Workers (Infonavit) has introduced a new credit option called Mejoravit Repara, aimed at providing beneficiaries with various options to tackle the hot season. This financing opportunity allows homeowners to repair, expand, or improve their homes without compromising the structure, including the installation of air conditioning units to combat heat waves.
Infonavit offers loans of up to 37,844 pesos with fixed payments and an interest rate that is at least three times lower than credit cards or personal loans from banks. The fixed annual interest rate stands at 10 percent, making it an attractive option for homeowners. The financing ranges from 8,461 pesos to 37,844 pesos, ensuring that it does not exceed 90 percent of the housing sub-account amount.
Additionally, the fixed annual interest rate of 10 percent applies to a repayment term of 1 to 5 years. To be eligible for the credit, the sum of the applicant’s age and the credit term must not exceed 75 years for women and 70 years for men.
The credit resources will be delivered through two cards. 80 percent of the financing amount will be deposited on one card, allowing homeowners to make purchases at over 2,300 businesses with authorized money orders. The remaining 20 percent will be available in cash for labor payments.
Infonavit emphasizes that beneficiaries interested in availing the credit must inform their employers about their financing request. This step is crucial as employers need to confirm the process or acknowledge the Withholding Notice.
To access the credit, individuals only need to enter or register in their My Infonavit Account (micuenta.infonavit.org.mx). Through this account, they can determine the approximate amount of their credit, accept the inquiry to the credit bureau, choose the repayment term that suits them best, complete the modules of the Know More to Decide Better course, integrate their documentation, and select how they want to initiate the process. They can either opt for self-service through their My Infonavit Account or visit the nearest Infonavit Service Center (Cesi) to schedule an appointment.
With the introduction of Mejoravit Repara, Infonavit aims to provide homeowners with a convenient and affordable solution to improve their living conditions, especially during the hot season. By offering lower interest rates and flexible repayment terms, Infonavit continues to support workers in enhancing their homes and ensuring their comfort.
What are the benefits of the flexible repayment term, ranging from 18 to 48 months, offered by Infonavit’s Mejoravit Repara credit option for homeowners
Affordable option for homeowners. Additionally, beneficiaries have the flexibility to choose the repayment term, ranging from 18 to 48 months.
This new credit option, Mejoravit Repara, aims to address the specific needs of homeowners during the hot season. With temperatures rising, many individuals are seeking ways to stay cool and comfortable in their homes. The installation of air conditioning units can significantly improve the living conditions during heat waves and make the home a more enjoyable space for residents.
However, air conditioning installation can be costly, and many homeowners may not have the funds readily available to cover the expenses. This is where Infonavit’s credit option comes in. By providing affordable loans, Infonavit allows homeowners to access the funds needed to install air conditioning units or carry out other necessary repairs or improvements.
Moreover, the fixed payments and low-interest rate make the loan repayment manageable for beneficiaries. Compared to credit cards or personal loans from banks, which often come with high-interest rates, Mejoravit Repara offers a more affordable financing option. The interest rate of 10 percent is significantly lower than what borrowers might typically encounter with alternative financial institutions.
The flexibility of choosing the repayment term also adds to the appeal of this credit option. Beneficiaries can select a term that best suits their financial situation, whether they prefer a shorter repayment period or longer, more manageable installments. With terms ranging from 18 to 48 months, homeowners can customize the loan to fit their needs.
In summary, Infonavit’s new credit option, Mejoravit Repara, provides homeowners with a flexible and affordable way to tackle home repairs and installations during the hot season. With the option to borrow up to 37,844 pesos at a fixed interest rate of 10 percent, homeowners can improve their homes without straining their finances. Whether it’s air conditioning installation or other repairs and improvements, this credit option offers a viable solution for homeowners seeking to enhance their living conditions.
This is a game-changer! Infonavit’s introduction of Mejoravit Repara Credit is just what homeowners need to make necessary improvements during the hot season. It’s a great initiative that will help enhance living conditions while providing financial support.