The ConstruYO loan from the Institute of the National Housing Fund for Workers (Infonavit) was launched on August 31, 2020 and does not require a mortgage guarantee.
The program is focused on supporting people who want to build a house from scratch or for those who want to make repairs to the one they already have.
Financing of up to 85% of the Housing Sub-Account Balance may be granted, and up to 28 UMA per month, equivalent to 73 thousand 952.26 pesos, whose financing repayment term can be 24, 30, 36 or 42 months.
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The amount will depend on the term chosen by the beneficiary, the ability to pay, the evaluation of their credit history and the Balance of the Housing Sub-Account.
If you choose to request 85%, 150%, or 200% of the Housing Sub-Account Balance, up to 200 UMA per month, equivalent to 528,230.40 pesos. In this case, the repayment term of the financing may be 12 and 24 months.
In either case, the support will be granted as the construction or improvement of the home progresses.
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In both cases, it is required to be registered in an Afore, have a current employment relationship of at least 8 months of continuous contribution with the same pattern and have the 1080 prequalification points established by the operating guidelines of the Institute.
In addition to this, you must have a document that certifies the safe possession of the property, does not have a current credit with Infonavit and sign the query to the Credit Information Societies.
Another requirement for compliance is being under 70 years of age.
In Solili you can locate apartments of less than 2 million pesos in Mexico City