Infonavit credit guide in 2024: requirements and benefits

Are you considering purchasing your own home through your Infonavit credit? Today on the LEX & CO blog we will tell you what the requirements are to request an Infonavit loan this 2024 and the benefits that the financing provides.

Types of Infonavit credit

Infonavit has different credit schemes to help Mexican workers have financing to buy a home, remodel their home or build on their own land.

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These schemes are:

Infonavit Account + Bank Credit (Cofinavit)

This financing modality is designed for non-active Infonavit beneficiaries, who can use their previous savings generated in the Housing Subaccount to make the down payment to acquire a new or used home in co-financing between Infonavit and a bank.

The main benefit of this modality is that you can have greater purchasing capacity by adding the resources generated and bank financing. In addition, during the loan, employer contributions can be added to pay the bank’s loan, which reduces the term and interest.

The requirements to hire are:

• Be at least 25 years old
• Receive a minimum salary of $10,000 pesos
• Have a minimum of two years’ experience on the job
• Not having had an Infonavit credit before
• Copy of CURP
• Valid official identification
• Credit application to the bank

Infonavit Spousal Credit

This scheme allows combining Infonavit and FOVISSSTE credits for married beneficiaries, so that they can obtain financing to purchase a new or used home.

The requirements for this financing are:

• Marriage certificate
• That the beneficiary of FOVISSSTE is active
• Have 18 months or more of contributions to FOVISSSTE
• Have a minimum of 116 points in Infonavit
• Not having received a housing loan from any of these institutions

Second Infonavit Credit

Also known as subsequent credit, it is a modality very similar to the traditional one, so the beneficiary can acquire a second or third credit if he or she meets the requirements. Furthermore, as an additional benefit, the beneficiary can use their credit to buy land, remodel or expand their home, as well as opt for another modality such as Unamos Crédito or Cofinavit.

The requirements for this financing are:

• Have finished paying the previous loan
• Not have penalties from Infonavit
• Have the necessary points according to the program you want to use
• Have a current employment relationship
• The beneficiary cannot be over 70 years old if he is a man or over 75 if he is a woman.

Infonavit Total Credit

It is a mortgage loan for beneficiaries who need more than 2 million pesos for their home and can count on an additional line of credit managed by Infonavit.

Beneficiaries who wish to use this modality must have the maximum credit capacity and high registered income to have the economic capacity to pay the loan. In addition, the loan can be requested jointly with the spouse to increase payment capacity.

The requirements are:

• Have a current employment relationship
• Receive a minimum income of 11,407.84 per month
• Have the necessary points in the Housing Subaccount

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Cofinavit Additional Income

This scheme is similar to the Cofinavit credit in which two loans are granted, one from Infonavit and the other from a bank, but in this case it is designed for people with a minimum salary of $12,872.06 pesos who have additional income such as tips or commissions.

Infonavit Traditional Credit

The traditional scheme consists of using the amount of credit granted by Infonavit, the savings in the Housing Subaccount and employer contributions to pay for housing. Among the benefits of this scheme is an interest rate according to the salary level, in addition to being fixed throughout the life of the loan.

On the other hand, beneficiaries of this modality can request the Home to Your Measure program to remodel, repair or equip the home to adapt it in the event that a person with different abilities lives there. They can also opt for the Equip Your House program to remodel without affecting the structure.

The requirements for this financing are:

• Have a current employment relationship
• Have a minimum of 1,080 points
• The sum of the age of the beneficiary and the term of his credit must be better than 70 years in men and 75 years in women

Let’s join Infonavit Credits

This modality allows you to join the Infonavit credit with another person, regardless of whether they are not married civilly (siblings, parents, friends or partner). The financing amount is $4,889,402 pesos for a new or used home.

It is important to consider that the requirements may vary depending on the type of financing that the beneficiary opts for.

General benefits of Infonavit credit

Infonavit beneficiaries have many benefits:

• They can make advance payments without penalties.
• Employer contributions are paid to the capital, which allows for faster payment.
• The financing includes life insurance, damage insurance, unemployment insurance and Payment Protection Fund.
• Interest rates are fixed and are calculated based on the beneficiary’s ability to pay.
• Beneficiaries with low income are exempt from paying titling fees.
• If you opt for credits only with Infonavit, the procedures will be carried out only with the institute, without other financial entities, which speeds up the processes and makes the purchase safer.

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LEX & CO expert lawyers in the deal with Infonavit

We hope this information be useful for you. At LEX & CO we are mexican law firm, specialized in Infonavit and we can advise you so that your process is successful, as well as in cases of refusal to return contributions, illegal transactions or refusal to make insurance valid. We provide legal advice in how to sue an insurance company for bad faith, promissory note agreement attorneys in mexico, real estate attorney and promissory note attorneys in mexico.

Tell us about your case through the contact form or WhatsApp button. Learn the Art of Winning with LEX & CO.

Lic. Carlos Figueroa Rodríguez

Carlos Figueroa Rodríguez, attorney at law at Lex & Co. He has more than 10 years of experience in specialized cases involving insurance claims and medical malpractice. He is a graduate of the Universidad Anáhuac and has a Master’s Degree in Constitutional Law and Amparo from the National Bar Association. He also has a Doctorate in Juridical Sciences from the UCI Mexico. Professional license 6577215.