The Institute of the National Workers' Housing Fund (Infonavit) is a good option for employees who want to get their own home.

Although, it is not only for that, you can use it with various intentions. Here we tell you how it is possible to use your credit.

In the first place, it is used to acquire a home, which can be new or used, and can belong to any housing complex offered by the institute or any market, there is even the alternative of selecting one of the houses mortgaged by the same body.

You can also request credit to acquire and improve a used home, there you will need to present the plans and budgets of the work, the value of the improvements must be between 10 thousand pesos and 80% of what the house is worth.

Check here: FOVISSSTE, the best Traditional Credit option to access a home

The second option corresponds to those who own land and want to build. It should be considered that the house must be built in a maximum of 180 days and the Institute will deliver the money in four installments. In this scheme there will be a verifier supervising the work and the builder must be registered in the Single Housing Registry, and finally, as in the case of improvements, it is essential to present a budget and formal plans.

However, if you are not an owner yet, this year infonavit recently implemented the option of resorting to your credit to acquire one, and be able to write it down.

The third option allows you to use the loan to remodel, expand and carry out repairs, which could include demolishing walls, columns and slabs to rebuild new ones, even painting, waterproofing or acquiring accessories for your kitchen or bathroom.

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To pay a current mortgage, the fourth option would be used, which allows you to pay for a mortgage loan with another financial institution, the mortgage must be in your name and you must be up to date with the payment of taxes and duties on your home.

Renting a property would become the last option since part of your retirement fund, called the Housing Subaccount, is the product of the money that your employers have contributed throughout your working life and you can use it to rent a house.

The limitation is that the rent can only be applied to properties that belong to the housing complexes registered in the institute's records.

This option is very useful if you travel constantly, changing cities, and the conditions are that the amount of the rent cannot exceed 25% of your salary, the minimum lease term is 12 months, and the funds in your Sub Account of Housing must exceed the sum of 6 months rent.

In Solili you can consult available apartments in Narvarte, Doctores y Obrera

Original note