INFONAVIT restructures 4.8 million mortgages and offers home improvement loans

The Mexican Institute of the National Housing Fund for Workers (INFONAVIT) has restructured more than 4.8 million mortgage loans through federal programs such as ‘Responsabilidad Compartida’ and ‘Solución Integral’. These initiatives aimed to improve conditions for older loans that were previously tied to minimum wage increments, which often led to unpayable debts due to inflation. The restructuring converted these debts from minimum wage units to pesos, eliminating high interest rates and annual increases linked to inflation.

Additionally, INFONAVIT offers home improvement loans ranging from approximately 10,698 to 169,039 pesos. These credits are intended for non-structural repairs, such as painting, flooring, or waterproofing, and do not require the property to be used as mortgage collateral. The maximum amount is capped at 90 percent of the worker's accumulated Housing Subaccount. Interest rates are fixed at 10 percent for amounts up to 42,794.69 pesos and 11 percent for higher amounts, with repayment terms ranging from one to ten years.