Mexico City. The Institute of the National Housing Fund for Workers (Infonavit) announced changes in the scoring system with which it prequalifies the beneficiaries who wish to obtain a mortgage loan with this institution.
With the new scheme, a thousand 80 points will be needed and not the 116 that previously requested to authorize a housing financing.
However, the agency assured that “more points do not mean more requirements”, but now more factors will be taken into account to evaluate the applicant and not only age, salary or savings in the Housing Sub-account, which concentrates the resources accumulated throughout working life with bimonthly contributions from the employer.
Infonavit will consider more variables to determine the beneficiaries who may receive a loan. Among these, he mentions that the worker’s credit report will be evaluated; Employers’ compliance will be taken into account, and job stability will be evaluated.
He specified that “it will continue to be an important factor” to have a formal job at the time of initiating the process. However, if the worker loses his job, Infonavit will no longer ask for one year of seniority to obtain the mortgage loan once he / she resumes his working life.
With this new model, said the agency, it is sought that no one accumulates a debt that cannot be paid. He recommended allocating about 30 percent of the salary to the payment of the mortgage, so with all the information that make up the worker’s points, the Institute will make sure that no more than that percentage goes to credit.
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