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Infonavit Credit: the new rules that benefit you

In December 2020, a reform to the Infonavit law of Mexico was published, which establishes some changes that benefit all the people who wish to make use of their credit. 

The purpose of this law is to give each beneficiary the freedom to use their Infonavit credit as they wish, whether to buy land, a used house, or even to remodel their current home. 

According to Infonavit, one of the objectives of this reform is to provide greater accessibility, transparency, and freedom to the beneficiaries to choose their credits, to receive them directly (without intermediaries) and to be able to follow up on the financing granted.

What are the new Infonavit credit rules?

As a result of the law reform, Infonavit approved new Credit Granting Rules (ROC) to finance housing and land. 

In the case of home purchases, the new rules establish that they must have paved access, green areas, urban equipment and that there must be accessible mobility options.  

For the purchase of land, the rules dictate that it may not be located in high-risk areas, that it must have access to potable water, electrical connection, telecommunications, solid waste collection and a rainwater and wastewater system. They must also have street lighting.

If you are an Infonavit loan holder, the reform to the law and its new rules offer you the following benefits:

Elimination of intermediaries: the credit will be delivered directly to you, and you will be able to decide how to invest the money for your home or land. 

Access to several credits: before, it was only possible to access the Infonavit credit once. Now, you can have access to several credits, with no limit on the number of credits, to continue improving your home. 

Direct refinancing: before, credits were shared with the bank, now Infonavit itself can offer refinancing at fixed rates. 

Goodbye score: an essential change is that credits are no longer subject to a score. Previously, to get an Infonavit loan you needed to have at least 116 points, which were calculated according to your age, savings in the housing subaccount and contribution. Now, new products are offered for you to choose how you want to use them. Access to credit now depends only on the mortgage product and not on your score. 

Use your Infonavit credit to buy a house in Puerto Vallarta!

With the benefits granted by the new rules of the game, you are in an ideal moment to use your Infonavit credit to buy a property on the beach. 

At Grupo Gova we have excellent real estate options in Puerto Vallarta and Riviera Nayarit. We are specialists in the area and our advisors will solve all the doubts you may have, besides guiding you through every step of the process, so you can buy the ideal house according to your requirements and budget.

Contact us, it will be a pleasure to assist you. 

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