In an environment of moderate inflation and growth expectations in housing construction, 2024 is emerging as a good time to use your Infonavit credit
MEXICO.- With the beginning of 2024, he Infonavit It continues to be one of the main options for purchasing a home in Mexico.
However, many workers do not know how to optimize this benefit and, consequently, are unable to get the most out of it.
Below, we share some key recommendations so you can make the best decisions with your Infonavit credit.
How does Infonavit credit work?
The Institute of the National Housing Fund for Workers (Infonavit) grants loans to formal workers for the purchase of housing, construction or remodeling.
The amount you can access depends on your age, salary and savings in the housing subaccount, in addition to other factors such as your credit history.
Starting this year, Infonavit has adjusted some aspects of its credit scheme, allowing greater flexibility in the use of financing.
For example, workers can combine their credit with bank loans, which increases the total amount available for the purchase of a higher-value home.
Keys to take advantage of your credit in 2024
1.Combine your Infonavit credit with a bank loan: This option is ideal if you want to purchase a home of greater value. Known as He boundedallows you to combine the amount that Infonavit grants you with a mortgage loan from a bank. In this way, you will have access to a greater amount of resources and better financing conditions.
2.Know the interest rates and terms: Infonavit offers competitive interest rateswhich range from 3.3% al 10.45%depending on your salary. Although they are lower than traditional mortgage loan rates, it is important to know the details of the monthly payments and choose a term that suits your possibilities. Remember that a longer term may mean paying more in interest.
3.Take advantage of Infonavit support programs: By 2024, Infonavit maintains programs such as the Infonavit Supportwhich allows you to make additional contributions to your credit and thus pay off debt fasteror the program Mejoravitwhich finances improvements and remodeling in your home. Both are valuable tools to maximize the performance of your credit.
4.Check your prequalification constantly: Before applying for your credit, be sure to check your prequalification on the Infonavit portal. This tool allows you to know how much you can borrow and under what conditions. Additionally, the website provides simulators to see what your monthly payments would look like under different scenarios.
Is it time to buy a home?
In an environment of moderate inflation and expectations of growth in housing construction2024 is shaping up to be a good time to use your Infonavit credit.
The price of housing in various areas of Mexico has remained stable, which represents an opportunity for those workers who have been considering purchasing a home for some time. However, it is essential to compare prices, areas and credit conditions before making a decision.
Pedro Zapataan expert in personal finance, highlights the importance of long-term planning: “It is essential to analyze the options you have and consider not only the initial cost, but also the interest payment and the improvements you want to make to the home. Infonavit credit continues to be a powerful tool, but it must be used intelligently.”
He Infonavit It is an attractive option for thousands of Mexicans looking to access their first home. With the changes introduced for 2024, the opportunities to improve your quality of life by purchasing a home expand, as long as you use credit with a well-planned strategy.
Remember to combine your credit, check interest rates, and take advantage of additional programs the institute offers.
