The new update of Infonavit 2021 points
If you are a beneficiary of the Institute of the National Housing Fund for Workers (Infonavit), you know that in order to obtain one of your credits it is necessary to comply with the Infonavit Points, which is nothing other than its evaluation system to select those who are ready to apply for a mortgage.
In May, Infonavit announced changes to this evaluation system, which plans to take effect between June and July. At La Haus we tell you what these modifications are about.
Until now, the main requirement was to meet the required score of 116 points, which were calculated by the institute when evaluating your age, the number of continuous bi-monthly contributions, your salary registered with the IMSS and the balance of your subaccount.
With the new Infonavit point’s update, the minimum score required is 1,080. This is because more factors are incorporated into the assessment related to the beneficiary’s employers and credit information.
“More points do not mean more requirements, but now Infonavit will take into account more factors to evaluate you and not only your age, salary or your savings in the Housing Sub-account”, Carlos Martinez, General Director of Infonavit.
As of the entry into force of this new system, the credit report will be an important variable. As with banks, financial behaviour, debt capacity and credit score will play in the equation when you apply for an Infonavit loan.
With this change, the institute seeks to guarantee that a mortgage is not a risk factor for the Mexican family economy.
Another factor that is added to the evaluation model is regarding employer fees. The fact that employers are up to date in the payment of their fees with the institution will add points to affiliated workers who are thinking of applying for a loan.
This new points system continues to give weight to your age, salary, the amount in the housing subaccount and job stability. But when new variables are added, the scheme is made more flexible in circumstances such as job loss. For example, in the 116-point system, when you stop working for more than three months when you join a formal job, you must contribute at least eight continuous two-month periods to achieve the points again. With the new system, this will not be an essential requirement, as long as you demonstrate financial stability, a good debt capacity and adequate credit history.
With these changes, obtaining an Infonavit loan is more convenient and flexible, since you could even increase your points and anticipate you’re prequalification by having a good credit report.
Planning the purchase of a house requires time and preparing the work, personal and financial terrain. Therefore, if you are thinking of applying for a mortgage, with the institution that is, at least six months before work so that your credit report has a very good score. This will guarantee a yes from the creditors. How to do it? Pay your credits on time, do not be over-indebted and if possible, settle most of your financial commitments.