The Institute of the National Housing Fund for Workers (Infonavit) pointed out that workers who pay in a single payment the total debt of their credit will be applied a discount of 50 percent of it and the Institute will cover the other half of the unpaid balance .

The agency said that to offer this support to workers, it modified the benefit and eligibility criteria of the Early Settlement Discounts program.

This program granted discounts of between 5 and 40 percent, depending on the worker's income level at the time of origination of the loan and the age of the financing, which had to be at least 10 years.

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Likewise, the eligibility criteria related to the origination amount, which should be less than or equal to 236 Times the Minimum Wage (VSM), was also eliminated.

During the first five months of this year, 23,243 borrowers benefited from this program, which involved discounts for a total of 566,776,197 pesos.

The new rules of the early settlement discount program include the participation of mortgage loans whose current debt is equal to or less than 25 percent of the initial financing amount, he explained.

For co-financed loans, the discount will only apply to the balance of the financing granted by the Institute, he added.

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For loans with an active restructuring, which considers a percentage of reduction conditional on payment, that is, an amount paid by Infonavit and another amount paid by the borrower, the discount percentage will consider the total balance of the financing.

Likewise, the Institute highlighted that this program does not contemplate the credits Infonavit Total, Infonavit Total AG, Mejoravit, Arrendavit, Tu Casa es Posible, ConstruYO, Second Credit, Fulfill Account, Shared Responsibility and Trusts.

To determine if a credit can apply to a discount for early settlement, borrowers must enter My Infonavit Account (micuenta.infonavit.org.mx) and make the query in the section Balances and Movements, or contact Infonatel (800 008 3900 ), he pointed.

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