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What is a SOFOM, and how does it help you buy a house in Puerto Vallarta?

Looking to buy a house in Puerto Vallarta, Banderas Bay, Puerto Vallarta or in the surrounding areas, but you are worried because your income is variable or because you have a bad credit score. Applying for a SOFOM could be a good option for you.

While it is good to have a good credit bureau rating, with SOFOMs you won't have to worry about it; the main function of SOFOMES (Sociedades Financieras de Objeto Múltiple or SOFOMES) is to grant loans.

SOFOMES obtain resources through the financing of individuals or companies and grant loans in several areas such as automotive, personal, mortgage, among others.

How do SOFOMES work and what services do they offer? 

Before venturing to process a loan with a SOFOMES, it is necessary to make sure that they are registered with the National Commission for the Protection and Defense of Users of Financial Services (Condusef). This way, you can be sure that the procedures you carry out will be completely transparent, with the explanation and security that you are making a good deal. 

The loans granted by SOFOMES are quite similar to those offered by banks; they require a down payment and include life insurance, unemployment insurance and damage insurance.

Credit rates or interest rates may be higher than those offered by banks, since SOFOMES are mostly more open to provide loans to independent professionals or owners of their own businesses, who do not comply with the somewhat stricter guidelines of banks, although the fee is a little higher; applying for a loan with a SOFOMES definitely allows the purchase of a property to people who cannot easily access a bank loan. 

Another great advantage is that SOFOMES enter into a co-financing scheme with INFONAVIT, called COFINAVIT. This means that the SOFOMES credit can be added to the Infonavit credit to obtain a larger amount and be able to buy a larger home or in a better location.

Don't think twice, if one of our projects has conquered your heart, and you have already decided to build your home in an apartment or house in Puerto Vallarta, Banderas Bay or Riviera Nayarit, at Grupo Gova we will advise you so that you can get a loan in an easier way, besides helping you find the option that best suits your needs. You can contact our experts by clicking here or by the following options: 


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