Unlocking the Door: Your Infonavit Loan Guide
Thinking of Buying a Home?
If you’ve been daydreaming about that picturesque little house where you can finally hang your collection of weird art, then you might be considering an Infonavit loan. Good news—now you can choose how long you want to pay it off, between one to thirty years! That’s right! You can take out a loan and still cut your mortgage time shorter than the lifespan of that one potted plant you’ve been neglecting.
But First, Some Rules!
Before you dive headfirst into the home-buying pond, there are a few conditions you need to meet to request that loan. So, grab your checklist, and here are the requirements:
- Be a Solid Contributor: You’ve got to be formally contributing to the Mexican Social Security Institute (IMSS). No sneaky side gigs; you’ve got to be the real deal.
- Check Your Points: Make sure you’ve earned enough points in your Infonavit Account. It’s like Pokémon; you’ve got to catch those points first!
- Take the Free Course: Sign up for the “Know More to Decide Better” course. Probably not as fun as a trip to the amusement park, but much more important for your financial health.
- Get an Appraisal: If you’re buying from a developer, they’ll handle the appraisal. If you’re getting the property from an individual, you’ll need one from an authorized evaluator. Basically, you need someone with a fancy title to tell you what your future home is worth.
- Time to Apply: Fill out an application for the credit, and don’t forget to gather all the necessary paperwork based on the type of product you want to pursue.
- Choose Your Notary: Not that you have to find one that can recite poetry, but you do need to pick a notary public. They’ll facilitate the process, especially if you go the individual seller route.
- Proof of Credit: Lastly, get your proof of credit. This is as important as your mom’s meatloaf at family dinners—without it, things get messy!
Financing and More!
Once you’re rolling with an Infonavit loan, your employer handles the dirty work—deducting the payments from your salary and sending them straight to Infonavit. Just think of it as an automatic “going away” party for your money. However, you need to keep them updated. Once you’ve paid off your financing, make sure your employer stops stealing your lunch money.
Time to Celebrate Your Liquidation!
Once you’ve bid farewell to your debt, make sure to grab that Suspension Notice. Here’s how to do it:
- Log into your Infonavit Account.
- Click “Balances and Movements.”
- Select “My Credit.”
- If you see “Liquidated” in the “Arrears” line, congratulations! You can download the notice that confirms your freedom!
And Don’t Forget the Letter of Instruction!
This document is key for the mortgage cancellation process. It allows you to finally breathe a sigh of relief knowing your property is debt-free—it’s like shedding a weight that’s been sitting on your shoulders since college!
Wrapping It Up
So, there you have it! Dive into the world of homeownership with Infonavit, knowing the rules and requirements. Just remember: a little preparation goes a long way. Now go out there and make those dreams a reality—just don’t forget to water that plant once in a while!
To request a loan, workers must meet a series of requirements. (Freepik)
If you are thinking about buying your own home through a loan Infonavitknow how much is the maximum time granted by the Institute of the National Housing Fund for Workers to liquidate it.
It was a few weeks ago when the Institute announced the flexibility of the terms and amounts of its loans so that people have control of their financing and can better plan their family finances.
Thus, starting August 2, workers will decide the length of time they want to pay their mortgage, which can be from one to 30 years for the purchase and construction of a home, as well as the payment of a loan with the bank.
To request a loan, workers must meet a series of requirements, among which are:
1. Formally contribute to the Mexican Social Security Institute (IMSS).
2. Check if you have the necessary points and how much the credit amount is in My Infonavit Account.
3. Take the free course “Know more to decide better”.
4. Request an appraisal of the property you want to buy.
If purchased with a developer, the appraisal will be done by the construction company, while if purchased with an individual, this will be requested at the authorized evaluation units.
5. Apply for credit.
Integrate the file according to the product being processed.
6. Choose a notary public.
If you buy with a developer, he will be able to help with the deed but if you buy with an individual, the notary will be chosen when registering the credit. The election will be based on the directory of notaries who collaborate with the Institute.
7. Obtain proof of credit, which establishes the conditions and deadline to complete the process.
/ https://infonavitfacil.mx/
When obtaining an Infonavit credit, the company you work for deducts the corresponding payment from your salary and transfers it directly to Infonavit.
Therefore, it is important to inform the employer once the financing has been paid so that the discounts stop.
To do this, it is necessary to obtain the Suspension Noticea document that will be available once the entire credit has been settled, through the following steps:
– Enter My Infonavit Account (micuenta.infonavit.org.mx).
– Click on “Balances and Movements”.
– Select “My Credit”.
– In the “Arrears” line, verify that the word “Liquidated” is found.
Once the credit status is settled, it is possible to access the My Credit section in My Infonavit Account to download the suspension notice.
Additionally, the Letter of Instruction for Mortgage Cancellation must be generated. This document is essential to begin the Lien Release process, ensuring that the property is debt-free and can be sold, donated or inherited without problems.
