How do I apply for an Infonavit credit if I am no longer listed in the IMSS?

There are around 1.1 million employees who have savings in the institute but are currently not making a contribution and can still buy a house.

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How do I apply for an Infonavit credit if I am no longer listed in the IMSS?
How do I apply for an Infonavit credit if I am no longer listed in the IMSS?

This story originally appeared at high level

By Jaume Molet

If at any point in your life You have been listed on Infonavit But it is not important now that you know that this money has not been lost and that you can even use it to buy a property.

The Association of Banks of Mexico and the Institute of the National Housing Fund for Workers (Infonavit) announced a new project earlier this year designed to enable Mexicans to: purchase a home, pay for a mortgage loan with residual assets, or leave a property;; This program is called Infonavit Account + Bank Credit.

This system would help beneficiaries who are no longer active but are still working to have a sub-account for housing and thus be able to make down payments or payments on their mortgage loan in conjunction with a loan approval by the bank.

According to Infonavit estimates, there are around 1.1 million employees who have savings at the institute but are currently not making any contributions. On average, a balance of 120,000 pesos per beneficiary is registered in the sub-account, which can be used as a deposit by any private financial institution.

What is the sub-account for Infonavit apartments?

These are the savings that have been made from the time Infonavit started trading. In case you stopped trading at any point, these savings will still be there and can be used to start paying mortgage or down payment on a property; This is the first step in paying off any debt or expense as part of the bank loan approval process.

Before attempting to apply for this system, it is recommended that you check the status of the institute account and review how you will receive the money listed in this facility if it has never been used.

One of the advantages is that the person who is still of productive age but is no longer listed in Infonavit has the option of applying for a bank loan and also using the savings from their housing sub-account that they could not use but until You reach your retirement.

When a person receives approval for a bank loan, the institution makes a contribution of 33% of the loan described by the bank or financial institution. This enables additional savings.

In order to make the payments for this loan, you have a fixed annual interest rate, fixed payments and also the direct debit of the payments on the bank account on which you purchased the loan. In the event that the applicant pays again, the employer’s salary contributions apply for the loan payment.

The President of the Association of Banks of Mexico also stated that coverage will increase year on year to help family groups that have more savings with Infonavit. The banking institutions and the institute offices have an information window on this system in order to provide the applicants with all detailed information.

Before investing, I would recommend that you visit a real estate portal like Lamudi where you can see the great offer in the housing sector. This serves as an investigation to find out where the house or apartment is that best suits our needs. Needs.

In conclusion, I would like to reiterate the idea that buying a property is one of the safest investments to make because of the profitability it offers and factors such as capital gains that enable significant economic development. Now the possibility of buying property is closer to everyone.

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