The beneficiaries will be able to use the money to buy a new or existing house, land, make improvements to their home or build on their own land. With this measure, the maximum amount of the credit will increase by 180,000 pesos on average.
The amount that the institute lends will depend on the creditor’s age and monthly salary, as well as the type of credit contracted.
“People who have started their credit process and want the new age conditions plus the payment term up to 70 years old, must cancel their process and register their financing again,” Infonavit said.
The Institute of the National Fund for Housing for Workers assured that the increase in the age to process credits “will not affect the conditions of the current credits or the orification models and the business rules of the financing options.