Mexicans in the United States can access a loan to buy a house in Mexico with the support of the Institute of the National Housing Fund for Workers (Infonavit).
At the end of 2020, the reform to the Infonavit Law was approved, which guarantees access to the supply of credits and programs offered by the institute to the Mexican population living in the United States. In this way, Mexican migrants can obtain financing directly to purchase a home without the participation of intermediaries.
"With the reform to the Infonavit Law, the aim is to provide financing options so that workers who have ever contributed to the IMSS can use the savings from their Housing Subaccount and access a loan," Infonavit explained in a statement.
Thanks to this reform, the Ministry of Foreign Affairs, through the Institute for Mexicans Abroad, signed an agreement with Infonavit, to facilitate access to housing for Mexican families abroad through credits provided by the institute.
In this way, the Infonavit without Borders program was created, so that these financings through the Infonavit scheme are granted to direct relatives of Mexicans abroad who live in Mexico. Likewise, it allows Mexicans abroad to make Infonavit home loan payments to a family member or to a third party. The process is easy and safe, since it is done directly in branches of the remittance institutions indicated by the program. In addition, Infonavit absorbs the commissions for sending money to Mexico.
El proceso para ingresar al programa Infonavit sin fronteras es el siguiente:
- Check the current status of your account at infonavit.org.mx
- If you worked in Mexico contributing to the IMSS between 1972 and 1992, check if you have a credit balance and the requirements to withdraw it.
- If you have a balance in the Housing Subaccount (SCV), you can withdraw it at age 65. It is important to note that these resources can be inherited.
Until 2021, Infonavit without Borders managed to benefit more than 7,000 Mexicans in the United States in paying their mortgage or that of their family.
