The greatest achievement of the Housing Policy is that every worker has the right to decide within a wide range of options.

Previously, Mexican workers who had a job affiliated with Infonavit, ended up buying properties that neither served them nor needed them, just so as not to "waste their Infonavit credit."

Suddenly, at some point, the Fund made the decision to reverse this absurdity and assumed the commitment to multiply the options to which its eligibility would be entitled.

He began by increasing amounts of credit, which allowed the middle classes to take advantage of their Infonavit credit to buy a house that would really serve them to live.

It then went on to diversify the housing credit schemes, increasing the scope of its coverage to the point where it seeks to provide a timely, efficient and sufficient response to the very particular housing-related needs of Mexicans.

For this, models co-financed with the bank and with its sister organization, Fovissste, were implemented, while opportunities were opened to add Infonavit credits with family or friends.

Likewise, the product shelf is diversified, to the extent that today it is possible to use an Infonavit loan to buy a new or used home or even a lot with services, or to build, remodel, self-produce, or settle other mortgage liabilities.

It was still pending to meet the needs of those who once had an Infonavit housing account, which ceased to be active at the end of the employment relationship.

Check here: Mexico City promotes various housing programs

In response to this challenge, on Thursday November 18, Infonavit and the Association of Banks of Mexico (ABM) launched the Infonavit Account + Bank Credit scheme, which will allow workers who were once beneficiaries of the Institute and who Currently they do not have a current employment relationship, but they receive income independently, access Infonavit credits co-financed with a bank.

Two outstanding facts; the first, to recognize as beneficiaries of Infonavit all those workers who were once affiliated to the Institute, although their work does not currently give them this benefit.

The second, recognizing that having been right holders allows them to maintain a housing account, be owners of the resources that feed it, have the right to income and any benefits that it could generate and maintain the ability to decide on the use that they can give to those resources.

As well as Infonavit's options and the full Right to decide, perhaps the greatest achievement of the Mexican Housing Policy, generates above all, the real possibility that every worker has the Right to decide and a range of options that allow to enforce that Right .

Interest: The price of mortgaged homes has grown 24% in the last two years

It is enough to measure the scope of this, to specify that Infonavit currently has more than 72 million beneficiaries; of which 32.3 million are inactive workers, and of these, about 1.1 million have savings in their Housing Sub-Account of 120 thousand pesos, on average.

Several banks participate in the launch of this product, which in each case will determine the amount of financing and the interest rate to be granted for the part of the credit they are responsible for; and, of the total, Infonavit will participate with 30%, capped at 325 UMA and with an interest rate for the part that corresponds to it, of 10.45%.

Workers may request the credit individually or jointly; But both people must be inactive workers.

From the credit conditions, it should be noted that advance payments are not penalized and that the monthly payments will be fixed during the entire term of the financing, which will be calculated according to the age of the borrower.

The new loan can be requested regardless of the worker's monthly income and the amount of the financing should not be greater than the value of the home.

The Institute estimated that, during the first year of operation of the Infonavit Account + Bank Credit, 25 thousand financings were generated.

In Solili you can check available departments in Narvarte, Doctors and Escandón

Original note