If you are a worker and you want to acquire a mortgage loan, one of the options is to request it at Infonavit or, if you are a State worker, at Fovissste, however, in both options there are various requirements to meet, and one of them is age.
In Infonavit, the ideal age to request a mortgage loan is between 25 and 30 years, a considered range in which the worker has enough time quoted to obtain the loan.
On September 28, Infonavit reported that the age limit for applying for a mortgage loan was increased to 70 years.
The head of the Ministry of Labor and Social Welfare, Luisa María Alcalde, and Carlos Martínez Velázquez, director of Infonavit, were in charge of informing about the five-year extension of the age period for requesting a loan.
“In the Infonavit Council, the increase in the age of access to credit from 65 to 70 years was approved, which means that workers will be able to have a greater amount of credit to acquire their houses and a longer term to pay it,” explained Martínez Velázquez .
After the Council meeting, officials announced three improvements to Infonavit credits:
- The age period for applying for a loan is extended; previously it was at 65 years, it is extended to 70 years.
- The term to pay home improvement credits is increased to 42 months, which makes the monthly installments smaller.
- The credit for land is made more flexible in compliance with the water bill so that it is with the feasibility that they can buy their land.
Credits in the Fovissste
To request a Fovissste credit, the minimum age is 25 years, the same as that requested by Infonavit, although there is a longer term to request the credit. According to the institution, in addition to having contributed for at least 18 months, workers have up to 70 years of age to apply for a home loan, however; the sum of your age plus the term of the loan must not exceed 80 years of age.