When there’s a great opportunity to acquire a home that meets all the expectations of a potential buyer, Infonavit credit can be an excellent option to finalize the purchase. However, to obtain it, the property must meet certain conditions.
General criteria for financing
According to Infonavit’s regulations, the property must meet general elements to be financed by the organization, in addition to the general requirements for its beneficiaries.
Proximity and accessibility
1. Proximity of up to 2.5 kilometers to:
- Secondary schools.
- Health centers.
2. Maximum travel times to schools, workplaces, and areas of interest:
- 30 minutes walking.
- 20 minutes by bicycle.
- 45 minutes using public transportation.
These elements are complemented by essential requirements such as water, electricity, drainage, and a good location in an area with transportation infrastructure.
Infonavit states that these conditions were integrated into the credit rules to avoid past mistakes where many homes without basic services or far from schools, workplaces, and transportation services were financed.
Criteria for rural and semi-urban areas
Infonavit also considers different criteria for homes located in smaller localities. Depending on the population, distinct distances are defined regarding essential services:
- Semi-urban Full Area (10,000 to 14,999 inhabitants): Up to 2.5 km from secondary schools and health centers; up to 2 km from primary schools, grocery stores, and main roads.
- Semi-urban Intermediate Area (5,000 to 9,999 inhabitants): Up to 3 km from secondary schools and health centers; up to 2.5 km from primary schools and commercial areas.
- Semi-urban Basic Area (2,500 to 4,999 inhabitants): Up to 3.5 km from secondary schools and health centers; up to 3 km from primary schools and other services.
- Rural Area (1,000 to 2,999 inhabitants): Up to 4 km from secondary schools and health centers; up to 3.5 km from primary schools.
Infonavit recommends verifying that the desired property meets these guidelines before starting the process. Interested parties can visit Mi Cuenta Infonavit to learn about their available credit amount and begin the request process.
Key Questions and Answers
- What is Infonavit? Infonavit, or the National Housing Fund for Workers, is a Mexican government-run housing finance institution that provides credit to workers for purchasing, constructing, or improving their homes.
- Why is it important to check these requirements? Ensuring the property meets Infonavit’s criteria helps avoid future issues related to lack of basic services or inconvenient locations, which could affect the quality of life and daily commutes for homeowners.
- What are the benefits of using Infonavit credit? Infonavit credit offers several advantages, such as lower interest rates compared to traditional bank loans, the possibility of building equity in a home, and long-term financial planning through consistent monthly payments.
- How can I check if my desired property meets Infonavit’s requirements? Visit the Mi Cuenta Infonavit platform to review the guidelines and assess whether your chosen property complies with them.
