What are the two new benefits that Infonavit has granted to beneficiaries

Two good news gave this Thursday the Institute of the National Workers’ Housing Fund (Infonavit) to beneficiaries who already have a loan but who are at the Times Minimum Wage (VSM) and also to those who are looking to start the financing process to have an estate.

In the middle of a press conference from the National Palace, the director of the institute, carlos martinez Velázquez claimed that a large amount of money was authorized for the generation of more housing loans.

Through an agreement between unions, employers and the government, Infonavit’s board of directors has authorized the distribution of approximately 125 billion pesos to 57 million beneficiaries who have no active credit.

The idea of ​​this new initiative is that the beneficiaries have a better protection of your savings Taking into account the variations caused by the inflation.

The second good news is that borrowers who have their financing located at VSM will be able to convert it into pesos, using the tool called Shared responsibility program one-stop shop.

This is an adjustment that should be taken into account by people who have their credit in Times of Minimum Wage, otherwise they will continue to pay more each year. Some people who took out their credit under this scheme more than 10 years ago have paid much more interest and the debt has become invaluableWell, the amount that used to be around 400,000 pesos is currently reaching a million pesos in some cases.

And it is that the credits in VSM undergo an annual increase compared to the SMIC or the Mixed Unit Infonavit (UMI). He times the minimum wage it was created at the time to protect against drastic changes in inflation. They were thought under the assumption that the wages of the workers would grow in such a way that they would earn or that they would increase as the minimum wage increased; however, in recent years this is no longer a reality in the job market.

However, this Thursday, Infonavit announced that it had reopened the window to convert funding into pesos and will offer the following:

-Abolition of annual revaluations linked to the increase in the minimum wage and the Unit of measurement and updating (UMA).

-Fixed interest rates between 1.0% and 10.45%, according to the monthly income of the accredited or the accredited.

-Balance and fixed monthly payments during the life of the credit.

-The employer’s contribution is paid directly on the principal amount of the debt, if the borrower has an ongoing employment relationship.

In this sense, now with the proposal, borrowers will have certainty when they will finish paying their financing and the exact amount they will pay each month.

-Interested persons will need to access the Universal Shared Responsibility window in My Infonavit Account.

-Select the My credit tab then Shared responsibility.

-Once there, enter the state and zip code of the home you purchased with your credit.

-It will be revealed your account statement and the new financial conditions.

-Then a window will appear which will indicate the amount of your fixed monthly payment, only if you decide to convert to pesos; as well as the new interest rate, the actual payments pending and the amortization table to download.

-Be sure to review all the cashback options in the monthly payment or in the balance offered by the program, by clicking on the arrows next to each option.

-Then you must confirm the conversion of your credit VSM in pesos and keep the Welcome Letter with the amount of the new monthly payment.

According to information from Infonavit, if you currently have a restructuring, you must accept its cancellation through the same platform.