Infonavit Calculator — Mexico
Infonavit credit allows formal workers in Mexico to purchase a home with preferential rates. A worker earning $15,000 MXN per month, aged 30, with 5 years of continuous employment can obtain a traditional credit of approximately $550,000 MXN with a monthly payment of about $4,500 MXN. The interest rate ranges from 1.99% to 10.45% depending on salary expressed in UMAs, and the maximum term depends on the borrower's age (up to 30 years, maturing at age 65).
Frequently Asked Questions
What is Infonavit credit and who can apply?
Infonavit credit is a mortgage loan granted by the National Workers' Housing Fund Institute. Formal workers who contribute to IMSS, have at least 116 Infonavit points (based on age, salary, continuous employment, and subaccount balance), and have an active employment relationship can apply.
How is the Infonavit interest rate determined?
The interest rate is assigned based on your salary expressed in Measurement and Update Units (UMA). Workers with lower salaries (up to 2.6 UMA) get preferential rates starting at 1.99%, while those earning more than 10 UMA may have rates up to 10.45%. The rate is fixed for the entire life of the credit.
What is the difference between Traditional, Total, and Cofinavit credit?
Traditional credit uses only Infonavit resources. Infonavit Total allows higher amounts by supplementing with institute resources. Cofinavit combines Infonavit credit with a bank loan, providing access to higher-value homes. With Cofinavit, the total amount can be up to 50% higher than traditional credit.
How long do I have to repay my Infonavit credit?
The maximum term is 30 years, but it is limited by your age: the credit must be paid off before turning 65. For example, if you are 40 years old, your maximum term is 25 years. The minimum term is 5 years. A shorter term means higher monthly payments but lower total interest cost.
What is the housing subaccount and how does it affect my credit?
The housing subaccount is part of your Afore where your employer deposits 5% of your bimonthly salary. This savings accumulates throughout your working life and can be used as a down payment or to reduce the credit amount. A higher subaccount balance leads to better credit conditions. You can check your balance on the Infonavit website or in your Afore account statement.