Infonavit, how to ask for more than a million pesos for your house

Can you imagine that the Institute of the National Housing Fund for Workers (Infonavit) could lend you more than a million pesos to pay your mortgage? This is possible thanks to one of the credits available at the institute.

This is a traditional credit that can be used to pay the one you already have contracted with a bank or financial institution. But there are two requirements that you must meet: that the home is in the name of the person interested in applying for the loan or in the name of the couple, as long as they are married under a conjugal partnership.

Infonavit offers you several options for your home. Photo: Pixabay

One of the advantages of this credit is that in addition to being able to pay off your debt, the rest can be used to make home improvements, as long as they do not exceed 50% of the total value of the property. Similarly, with this scheme, what will be done is to settle the debt with the bank and it will be transferred to Infonavit.

Some of the characteristics of this credit are:

The maximum amount that Infonavit can lend you is 1,846,165 pesos, but this is measured according to the payment capacity of each person. The annual interest rate is 12%. The discount that will be made to the worker will be monthly and according to the salary he has. It can be requested together with the couple, as long as it is listed with Infonavit. The salary that the worker has does not influence. It is important that you take into account that expenses such as titling, financial and operating will be 3% based on the amount of the credit. Only in cases when the worker earns $ 7,395.23 per month will not be charged. How to apply

If you are interested in accessing this credit, we tell you the steps you must follow:

The first thing to do is to make an appointment on the Infonavit portal, this can be entered into My Infonavit account. Application for credit registration. Appraisal of the home. Birth certificate Official identification Bank statement of the worker with CLABE Conditional letter of instruction for mortgage settlement and cancellation, this is issued by the bank with which you have the debt. Name of the worker and RFC. Location of the property. Estimated amount of the debt to be settled. Information of the notary public with whom the procedure was carried out. Bank details. Standardized Banking Code (CLABE) to pay the debt.

Any worker can apply for this scheme, even if they have a low salary. However, it should be remembered that the loan amount is established based on the ability of the beneficiary to pay.

For you to continue being informed about this issue and other related issues, we suggest you visit our Credits section.