With the implementation of the T1000 Origination Model (a scoring system that establishes a minimum of 1,080 points to access a mortgage loan), six million 905 thousand beneficiaries of the Institute of the National Workers’ Housing Fund (Infonavit) have the points necessary to access a credit for the purchase of a new or existing home.
In a statement, the agency highlighted that the potential demand for borrowers, that is, people who meet the necessary score to have access to financing, is 1.2% higher than that registered in the last two months of 2020, when the granting of credits is still operated under the previous scoring system (116 points).
Infonavit highlighted that this increase was registered despite the health emergency due to covid-19; In addition, people who did process financing between January and April 2022 had access to a greater amount of financing.
Of the total number of people who processed their Infonavit credit in the first quarter of this year (90.2 thousand), 88.6% obtained the total amount of the financing; while, in the same period of 2021, when the 116-point system was still operating, only 84.04% of borrowers accessed the entire loan.
Are you interested?
In order for a person to know the points they have and be able to prequalify to have access to an Infonavit credit, they must enter My Infonavit Accountgo to My credit process and click on the Prequalification and points option.
Less time
Likewise, with the implementation of the new scoring system, a greater number of workers have been allowed to access financing for the purchase of a new or existing home, since now it is only required to contribute to the Institute for three continuous bimonthly periods to start the process. On the contrary, says Infonavit, with the 116-point model, with which a continuous contribution of six bimonthly periods was required.
With the new origination model, “achieving the necessary score is easier for workers, since the nine variables that are considered —quoted bimonthly periods, integrated daily salary, balance in the housing subaccount, age, compliance with employer contributions , job stability, type of worker, line of business and municipality— award more points than the previous system.”
By: Editorial
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