Through the ConstruYO program, Infonavit can grant a loan to build, expand or remodel a home located on its own land.
The property can be private, ejido, communal or derived from a government program, and it is not necessary that it be in the name of the person requesting the creditexplained Carlos Martínez, general director of the Infonavit. You only need to present a document that demonstrate secure possession of the propertynoted in a forum.
The official explained that through this program You can request a loan of up to 525 thousand pesos for a term of 10 years, with a frozen monthly payment: “If you are on ejidal land, you must demonstrate secure possession of the property. The ejidal commissioner or the board, when there are individualized lots or families already live on urbanized land, there is already what is called secure possession of the property” .
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“And when safe possession is determined, actions can already be taken within that property,” he explained.
In addition to demonstrating secure possession of the property, You must have a construction license and be an active contributor to Infonavit. With these three requirements, the worker is deposited 30% of the total amount of the credit in a first administration to his bank account; when the work advances to 30%, the rest is deposited to start paying with a fixed monthly payment.
To build the house, the program contemplates three options: minor repairs, such as changing windows, floors, painting, waterproofing or changing the kitchen and bathroom furniture; technical advice to build new housing, expand, reinforce or remodel spaces that could affect the structure. The third option is with the support of a construction company, in which the borrower must choose a professional registered with Infonavit who guarantees the safety of the home.
Also, read: What type of land can you acquire with the new Infonavit credit?
“What takes the longest is the construction license process, depending on the municipality. In addition, licenses have a cost and take time because the process is not automatic,” he added.
Starting in April, Infonavit also grants credits to buy land and, since then, it has received 5,600 requests to purchase one.
OA
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