The security that is owning your own home gives you is indescribable; it gives you peace of mind it constitutes a long-term investment since the properties have something called capital gains. Having your own home is one of the most important goals in a person or couple’s life. Making it happen is not impossible.
Mexican workers can obtain it through Infonavit, the National Housing Fund Institute. You can go to acquire a mortgage loan. This organization is responsible for ensuring compliance with the right to housing as dictated by the Mexican constitution. Keep in mind that you must be registered with the Mexican Institute of Social Security (IMSS) since they give you a Social Security Number (NSS Infonavit). This is necessary for the application process.
Infonavit has a points rating operation, which can produce a series of doubts about going to this institution.
A worker with a salary of fewer than 10,000 pesos would take between two and three years to accumulate the minimum number of points necessary, 116, to access these credits.
Also, those who receive less than 5,500 pesos and are therefore unlikely to meet the necessary points to apply for a loan or prequalify (Many workers consider this method the best option in case of low salary) for the same they have the right to a government subsidy that ranges between 53,000 and 68,000 pesos.
In short, the Infonavit prequalification is a procedure carried out online and refers to the preparation of an estimated budget, which will be closely linked to the employment situation, salary, and the amount of money you need for the new house (can also be a remodel). All procedures in Infonavit are free.
It is important that, as the beneficiary, you are sure that it is a good time; that is, your current financial situation and family budget cannot deduct points.
Prequalification is one of the benefits provided by Infonavit. And it is done to inform yourself beforehand and carry out the relevant procedures in a conscious way since it allows you to know if you meet the requirements. The evaluation policies inform you of the necessary score (116 points) and the maximum amount of money awarded to you. Also, it provides you with information on:
- The monthly amount that will be debited from your salary.
- The Balance of your Housing Sub-Account (the amount belonging to the part of your savings added to the credit, indicated by the type you choose).
- The time it could take to pay the debt.
- You must cover the additional amounts when obtaining the loan (qualification, financial and operating expenses).
Additional benefits of prequalification
- Know for sure how far the economic capacity can go to obtain a home.
- Specify the convenient time to apply for the mortgage loan, indicated by the results obtained.
- Be clear, according to the saving time as a beneficiary, that you can request credit for home purchase, remodeling, or even construction of a home on your own land.
