TAKE THE NEXT STEP AND BUY A HOME FOLLOWING THESE PRACTICAL TIPS TO PROCESS YOUR INFONAVIT MORTGAGE CREDIT.
As a right holder of buyproperty there are some requirements and procedures that you must do to arrive at the deed of your new home. Here we tell you five basic steps to start the process of your mortgage credit. Take note!
Steps to process my Infonavit credit
- Get your prequalification
- Choose your Infonavit credit
- Gather the requested documents
- Register your Infonavit credit request
- Deliver the documents to your notary
Get your prequalification
To be able to request an Infonavit credit you must have 116 accumulated points. The amount of mortgage credit that you are authorized will depend on some factors such as your salary and age, therefore, the first step to process your credit is to verify, through your prequalification, that you have the minimum number of points required . Prequalification will let you know:
- How much do you have saved in your Housing Subaccount
- The amount of the monthly payment you would pay
- The term it would take to pay the credit and;
- Other additional expenses to be covered when buying a home.
Choose your Infonavit credit
Infonavit offers the following types of mortgage credit for the needs of each beneficiary:
Infonavit credit. This is the traditional loan that provides financing to buy a new or used house, build on your land, remodel or expand your house and pay other mortgage loans.
Total infonavit. This loan works through a partnership with a financial institution and allows you to use the maximum capacity of your credit to buy new or used houses.
Cofinavit . This modality gives the opportunity to buy a higher value home, since it allows you to combine your Infonavit credit with the mortgage loan that some other financial entity grants you. Once the Infonavit credit is liquidated, employer contributions are used to pay the credit from the financial institution.
Cofinavit additional income. This option works the same as Cofinavit, with the advantage that you can include your extra income (in addition to your formal salary), for example, tips or commissions, and in this way increase the amount of credit.
Infonavit support . With this type of financing you will be able to obtain a loan to buy a house or build it on your own land, with the certainty that you will have the balance of your Housing Sub-account in case of losing your job.
Your 2nd Infonavit credit . In partnership with other financial institutions, Infonavit offers this fixed-rate credit once you have exercised your first Infonavit credit.
Each type of Infonavit credit varies in the requirements and conditions that are requested to grant the loan. For this process, Infonavit has implemented a course that is essential to take called Knowing to Decide , in which you will receive guidance and, if you are a rightful holder, a certificate upon completion.
Gather the requested documents
Once you have chosen your credit, verify that you have the documents that are required to carry out the process. Although the required papers vary according to the type of credit and the type of property, they all ask for at least the following:
- Certified birth certificate (original and copy) of the holder and the spouse, if applicable
- Marriage certificate (if applicable)
- Original and copy of an official identification (current INE, driver’s license, military card or passport) of the holder and spouse, if applicable
- CURP of the holder and spouse, if applicable
- Tax ID of the holder and spouse, if applicable
- Proof of address
- 2 family references with telephone (Name and telephone number)
- Proof of the Know to Decide workshop
It is also necessary that you know your employer registration and your company details (name or company name and telephone number).
Register your Infonavit credit request
After gathering all your documentation, you must correctly fill out the mortgage loan application and go to Infonavit to register it. When your application is registered, you will receive a proof of credit where you will be assigned a folio number that will serve to identify your mortgage credit.
Deliver the documents to your notary
When your request is accepted, you must go with a notary to whom you will deliver your documents to formalize your process. If you do not know a trusted notary, access the Infonavit directory where you can choose one according to the times and quality of service.
In this final step, you must enter your Infonavit account to print the Retention Notice of Discounts, which must include the signature and seal of your company before being delivered to the notary, the day you sign the deeds to your house. The Notice of Withholding of Discounts serves in the event that in the future you change jobs, you need to sign a credit restructuring or, you carry out the liquidation or cancellation of your mortgage.
If you want to know more about the Infonavit credit, visit our guide .
Once you are ready to buy a house, discover our real estate offer and get ready to release a new house in university town.