Infonavit authorities announced in April some changes in the amounts of the credits for which workers build your house on your own land, as well as for those who want to make improvements to their homes. Read Infonavit: supports during coronavirus emergency

According to the Federal Government, it is about improving the amounts and delivering the resource in such a way that the economic activities that depend on construction continue to generate jobs and income in the communities.

In loans for home improvement, the resource will go directly to the beneficiaries to buy materials and hire those who are in charge of the work. Photo: Reforma

Home improvement loans

At a press conference, the head of the Institute of the National Housing Fund for Workers (Infonavit), Carlos Martínez Velázquez, indicated that the workers will be able to take out a home improvement loan for an amount of 125 thousand pesos, for which previously 60 thousand were awarded.

Read Infonavit: Let’s Join Credits, an inclusive option to buy a house

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In addition, the money from the credit will be deposited directly to the worker and he will be able to hire labor, buy materials in different stores. This is to ensure that these essential activities continue to receive resources and continue to generate income: from the purchase of cement, rebar, built-in furniture such as bathrooms, kitchens, etc.

The money from the credit will be deposited directly to the worker and he may hire labor. Photo: Reforma

Another novelty of this program is that workers who have been in a company for 4 months and not 8 months as previously required may apply for the credit. This credit may be requested from May.

According to the Infonavit official, this is expected to reduce waiting time, and the catalog of products that can be paid for is expanded.

Construyo Infonavit Credit

On the other hand, there is a completely new loan, which was recently approved and they expect it to start operating in August: I build Infonavit.

This credit scheme will allow the worker to obtain a credit of up to 528 thousand pesos, so that he can build a house on his own land. And also the worker will be able to choose the amount, because it can be less and capped up to that amount.

Thus, the rightful holder will be able to choose the term and destination, because with this credit he can also make an extension, an additional room, an additional floor to the existing house. But also, if you have your own land or you own a land, according to the Housing Law, you can use it to build.

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