Infonavit: Can you request a loan when you are over 60 years old?

He Institute of the National Housing Fund for Workers (Infonavit) reported that, even if people reach the age of 60, they can still access credit to purchase a home, as long as they continue working in a company with social security benefits. Thus, Infonavit seeks to disprove the idea that advanced age limits financing opportunities for the purchase of a home.

The institute clarified that there are certain age limits to request a loan. In the case of men, the sum of the age plus the payment term must not exceed 70 years; For women, the limit is 75 years. In addition, Infonavit allows you to request additional credits even if the applicant has used a credit previously, as long as they have finished paying it.

The benefits of the credit include amounts of up to 2 million 716 thousand 334 pesos, which can increase up to 4 million 889 thousand 402 pesos if the credit is joined with a family member or friend through the Unamos Créditos program. Interest rates are fixed, ranging from 3.76 to 10.45 percent, and are adjusted based on the applicant’s income, with lower rates for low-income individuals. Monthly payments are calculated based on salary, age and the amount of the loan, and in certain cases some administrative and financial expenses are waived.

Finally, Infonavit recalled that the employer’s contributions, equivalent to 5 percent of the salary, are applied directly to the capital, facilitating the advance payment of the credit. To start the process, interested parties must register on the Infonavit portal with their CURP and social security number, where they can obtain more detailed information about the requirements and conditions of the credit.

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