2023-05-26 03:00:13
The Mexico City Regional Delegation of the Institute of the National Housing Fund for Workers (Infonavit) announced a new credit product that will allow beneficiaries who acquired loans with commercial banks to acquire a property, settle the debt with the private institution and reduce the monthly payment and the expiration term, by using the same home or the balance of the corresponding sub-account as a guarantee of payment to the institution.
The latter will depend on whether the balance in the sub-account of the beneficiary is greater or less than the debt with the bank, explained Patricia Ortíz Couturier and Alejandr Díaz González, regional delegate and the credit manager of the Mexico City delegation, respectively.
Ortiz explained that the credit that workers can access ranges from 9,461 pesos to 2,595,491 pesos with financing terms at the worker’s choice of 5 to 30 years, as long as the sum of the age and the term of the credit do not add up to more than 70 years.
In a press conference in the Carlos Payán Auditorium of the new building attached to the Infonavit headquarters in the Guadalupe Inn neighborhood, he explained the two modalities of the new credit product.
In the first, if the balance in the sub-account of the home is less than the debt with the bank, Infonavit will grant a loan for the amount needed by the beneficiary to settle the balance and the home itself will remain as guarantee.
For example, said the official, if the debt with the credit institution is 500,000 pesos and the beneficiary has 300,000 in the balance of his housing sub-account, the credit that Infonavit will give him is 200,000 pesos plus the 300 thousand of the sub-account and the housing payment guarantee remains.
In the second modality, when the debt with the bank is less than the balance that the worker has accumulated in the housing subaccount, the credit guarantee will be 9 thousand 461 pesos plus the amount of the subaccount required to settle the credit.
He exemplified with a debt of the beneficiary of 500 thousand pesos with the bank and a balance in the housing subaccount of 800 thousand pesos, the loan from the institution will be the minimum of the product, 9 thousand 461 pesos and 490 thousand 539 will be taken from the subaccount pesos and the guarantee of the loan will be the balance that remained in the subaccount.
In the case of monthly installments and terms, he referred to the case of the beneficiary who has a balance in his subaccount greater than his debt with the bank, if he owed 397 thousand 416.86 pesos with a term of 20 years in which 17 remain to be paid years and makes a monthly payment of 4 thousand 191 pesos and an interest rate of 10.60 percent, through the loan with Infonavit you could lower your monthly payment to 281.68 pesos with an interest rate of 10.45 percent to be paid in 5 years, but Since the employer contributions go directly to the payment of the credit, the actual term is reduced to one year.
If it is the case of a beneficiary who has a debt greater than what is in his sub-account, for example if the first one were one million 600 thousand pesos to be paid in 20 years and 19 years remain with monthly installments of 16 thousand 915.83 pesos and one interest rate of 10.60 percent, and has 230 thousand pesos in the subaccount, the infonavit credit plus expenses would amount to 1 million 383 thousand 700 pesos, its monthly payment could be 12 thousand 995 pesos for a term of 28 years, which is reduced to 18 considering employer contributions.
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