Infonavit’s New Loan Options: Elimination of Restrictions and Lower Interest Rates

At Infonavit the transformation continues to meet all the housing needs that workers have, therefore, The restrictions that prevented you from requesting more than one loan directly with the Institute were recently eliminated.

That is, now if an Infonavit Credit is processed to buy a house, when you finish paying it you can request other financing to acquire land, another home or for whatever the beneficiary decides.

It should be noted that the new financing could be used for the purchase of a new or existing home, acquisition of land, construction, improvement, expansion or repair of a home or payment of a bank mortgage loan.

Previously, in the case of purchasing a home, you could access Your 2nd Credit Infonavit; However, this financing was granted with a fixed interest rate of 10.1 percent. Now, if you take out a Subsequent Credit to buy another home, you can receive a differentiated interest rate from 3.09 percent to 10.45 percent, depending on your income level.

Among the requirements are having finished paying the previous loan (regardless of whether the guarantee has not been released), not having had penalties in the previous financing and a balance in the Housing Subaccount. The minimum amount will depend on the type of subsequent credit you want to contract or loans with a mortgage guarantee do not require a minimum balance.

Or, loans that are guaranteed by the Balance of the Housing Subaccount do require a minimum amount, which will depend on the credit option you choose.

Meet the eligibility criteria and requirements of each financing option, the term will be in accordance with the chosen credit, the age plus the term of the credit cannot be greater than 70 years if you are a man or 75 years if you are a woman.

Remember that the maximum Infonavit credit discount may not be greater than 20 percent of the monthly salary, if you earn a minimum wage or less; or up to 30 percent, if income is higher.

Keep in mind that, depending on the credit option you choose, you must have your own resources to cover the transaction amount and associated expenses.

Remember that, to request a first credit or a subsequent one, you must enter My Infonavit Account (micuenta.infonavit.org.mx), choose the credit option that best suits your needs and prequalify yourself to verify if you meet the required score for that credit product.