Infonavit: Get a credit of 630 thousand pesos for major repairs in your house

2023-11-13 12:43:28

Infonavit gives different financing options to its beneficiaries, among them is the alternative of being able to do small works in your home, it does get a credit of 630 thousand pesos for major repairs in your housethis is the way you can do it.

The end of the year is coming and with new projects and goals, so if you want to expand your home, you can do it with the ConstruYO Infonavit schemewhich operates throughout the country.

If you need more because the family’s needs change, such as when children arrive or an older relative moves to another home or the children grow up, This credit option is interesting for you.

If you need to make major changes to your home, even if it is not in your name, you can use the ConstruYO Infonavit credit, which Unlike Mejoravit, it will let you make radical changes in your property or build it.

Features of the ConstuYO scheme

The maximum loan amount is 630,739 pesos for the ConstruYO with Technical Assistance and Construction modalities and the maximum amount for the Minor Repairs modality is 88,303 pesos.

You can obtain a credit equivalent to 85, 150 or 200 percent of the balance of your Housing Subaccount in the ConstruYO modalities with Technical Assistance and with Construction Company and up to 85 percent of the Housing Subaccount Balance for the Minor Repairs modality.

According to Infonavit, the credit term can be 24, 30, 36, 42, 48, 60, 72, 84, 96, 108 or 120 months for the ConstruYO with Technical Assistance and with Construction modalities, that is, from 2 to 10 years.

For the Minor Repairs modality you can choose a period of between 24, 30, 36 or 42 months, that is, 2 up to 3 and a half years.

The credit guarantee is the Housing Subaccount balancethe annual interest rate is 24 percent for all modalities.

It is important that you know that it is not a mortgage loan, which means that you do not have to leave your house as collateral to obtain it.

How does ConstruYO work with Technical Assistance and with Constructora?

This modality involves dealing with a construction company to ensure structural safetythe habitability conditions and that the work is of quality and well done, so it can be used through two modalities that Infonavit has for you:

1. Build with Technical Assistance: In this modality you will have a technical advisor who will be registered with the Institute who will help you with your home project. It will be the one you work hand in hand with to carry out the work. The time and cost of the work are determined together with the advisor, so that you then receive the money with which you can hire a bricklayer you trust and buy the necessary materials.

2. BUILD with Construction.: If you cannot personally supervise your home project, you can do it through a construction company registered with Infonavit. In this option you define your needs and budget with the builder, and they take care of the rest.

In this option, the construction company receives the money, so you must sign a contract in which you authorize Infonavit to deliver the resources of your credit. To check that the work complies to the letter with what was agreeda verifier authorized by us will monitor the process.

With this credit you can from knocking down a wall, build a new bathroom or even add a floor to your current home.

More advantages

ConstruYo from Infonavit not only gives you the above advantageshas others that we show you below:

-You can use credit on any type of property: communal, ejidal, private or derived from a government housing program regardless of whether the house is in your name.

-You decide the amount and term of the credit.

-If your credit is not enough for the work you plan, a second person can request your own ConstruYO credit to expand the same house.

-This credit gives you the freedom to buy the materials where you decide. Just keep in mind that Infonavit will verify that the money is being used to improve the house.

-You can request this credit as many times as you require, for the amount and term you wish, as long as Show that you have used it for your home and pay on time.

-It’s a credit funded by a banking institution, but operated by Infonavit. This means that the money is provided by the bank, but the procedures and payments are made through the Institute. With this, regardless of whether you have requested a ConstruYO loan in the future, you can process an Infonavit, Mejoravit or some other Traditional Credit.

-With the budget simulator you can calculate and determine the approximate cost of the work you want to do (even determining the list of materials and labor). This will help you decide whether to do everything at once or do it in stages.

And the requirements?

The requirements that Infonavit asks of you They are the same as in other loansin case you don’t remember them, here we tell you:

-Be a beneficiary of Infonavit and have a current formal job.

-Have 1,080 points.

-Have at least 8 months of continuous contributions with the same employer.

-Have a document that proves safe possession.

-Authorize the consultation of the Credit Bureau.

-Be registered in an Afore.

-Not having a current Infonavit credit.

-The sum of your age plus the financing term must not exceed 70 years and if you are a woman it must not exceed 75 years.

You can check if you meet the requirements or what credits are ready for you if you enter My Infonavit Account and you will also be able to see your prequalification and the amount of financing you can access, as well as to use the budget simulator.

You already know what you need to obtain a loan of 630 thousand pesos with Infonavit for major repairs in your home.