One always dreams, in addition to having a house that covers our primary needs, also of having a vacation home outside the city or having a place to go on vacation with the family, or that in the future we can live on that income.
Now being able to acquire a second property with a second Infonavit loan is possible if you have already paid off your first loan. You can request your second credit and buy a new house and continue developing your assets. According to our Mexico Real Estate Report 2022, in terms of residential demand, most people have searched for houses for sale, an operation that has a 74% share.
In recent days, Infonavit has commented that this financing scheme will allow you to acquire a larger house, closer to your work, or a house on the beach, or in the city you want, to go on vacation or when The time comes for you to retire.
These are the requirements that you need to meet when you go to apply for your second loan:
- Be a beneficiary of Infonavit with a current employment relationship
- Have 1,080 prequalification points; check how many points you have in micuenta.infonavit.org.mx
- If you had a loan with Cofinavit, Infonavit Support or Mejoravit products, you must have settled the Infonavit loan, as well as the loan granted by the bank. In case of having exercised the Mejoravit or Infonavit Support credit, it is not necessary to wait six months
- Have an electronic appraisal and technical report on the quality of the home to be acquired, not older than 6 months
- Copy of the property title of the house or apartment to be acquired.
- It is essential that you have an impeccable record before the National Credit Bureau, because they are the ones who will be able to access your credit history in the State’s financial institutions.
- Not have had delays in the first credit or have used unemployment insurance to pay the loan installments.
- There cannot be any type of extra help or that indicates any type of economic instability because the entity will take you as a non-consistent person.
- More than 6 months must have passed since you paid the last installment of your previous credit. In addition, you should still have money in the housing subaccount, which also shows strength.
- That your age does not exceed the maximum required to be able to process. Normally, it is up to 65 years. This way you will have the opportunity to pay in a period not exceeding 5 years because the limit between age and available loan is 70 years.
- Having worked for 5 continuous years receiving contributions, which allows for a good index of INFONAVIT points and work consistency.
- Incompatible with the CONAVI Federal Subsidy
- Remember that this credit is exclusive to request the purchase of a new house, if what you want is to remodel or expand your home you will have to request the Mejoravit or Traditional Infonavit credits
When you present an Infonavit prequalification for the second loan, they will mainly request these documents:
- As mentioned before, the first thing to get the second INFONAVIT credit is to reach 1080 points to continue with the process.
- Then, you must file your loan application and an appraisal of the home with one of the agents authorized by INFONAVIT. But if the house is owned by a construction company, then it will be the one that formalizes this inspection.
- You will need the originals and copies of personal documents, such as the birth certificate, and a current official NSS that allows you to collect your data.
- A copy of the account statement belonging to the seller with a Standardized Bank Code that is not older than 2 months.
- If you were assigned to the “Hogar a tu Medida” benefit, you must attach the disability certificate so that you can benefit without problems.
- Remember that as an applicant you must not be married to the person selling the property.
It is important that you know that the cooperative loan modality between INFONAVIT and a banking institution brings benefits such as higher values than traditional loans and lower interest rates with a good credit history, which helps you to settle the debt in a more efficient way. fast.
The payment system is based on pesos, so there will not be many changes in the value of the currency. And you have the opportunity to request this financial plan up to 65 years of age with a minimum payment term of 5 years that allows you to reach 70 years of age as a limit.
Why can my application be rejected?
They may reject your application if you failed to meet any of the above payments. Also, if you want the best interest rates, you must have a good history with the credit bureau.
Remember that this financing aims to meet your housing needs, and we know that these are transformed over time, which is why they change, and Infonavit is a great ally to increase your assets.
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James Molet Founding partner of the real estate portal Lamudi.