Buying a home is one of the most important decisions in a person’s life as it represents a large investment. To do this there are many options, from resorting to a mortgage loan with Infonavit, for which you have to meet certain requirements such as having a working relationship, meeting the necessary points, among other things.
But if you still do not have the necessary resources to buy the house you want, there is also the option of requesting a co-financing, which is about requesting a loan from a financial institution so that you can buy the house you want.
We tell you what a co-financing is. Photo: Co-financing reform with Infonavit
This institute has two ways to support workers who want to buy their home by this means, which are Infonavit and Cofinavit, both can be used to acquire a new or used home.
Some of the characteristics of these credits are:
The credit is paid through employer contributions. The worker is entitled to some benefits such as reducing the life of the loan and paying it off in less time, or reducing the cost of the monthly payment to be paid. Have insurance in case you lose your job.
On the other hand, the Cofinavit is a credit that the institute grants you together with a financial institution, plus what you have saved in the total of the housing subaccount, so that you can buy your house together with a bank or financial institution.
The balance of the housing subaccount can be used to pay for the deed, down payment, etc. One of the requirements for you to be eligible for this financing is that the worker has an income of up to 10.9 times the minimum wage.
Co-financing with Fovissste
In these cases, the Housing Fund of the Institute of Social Security and Services of State Workers supports the workers two co-financing programs, which are:
ALIA2 Plus, through which you can buy a new or used home without having to participate in a draw for the credits. The requirements to access it are: only have a loan from Fovissste, the balance of the housing subaccount (SSV) and a loan with a bank.
Backup2It is very similar to the previous one, the only difference is that to have access to this credit you only need the balance of your housing subaccount and have the credit approved with a financial institution.
In order for you to continue being informed about this and related issues, we suggest you visit our Credits section.