translated from Spanish: Infonavit increases credit for low-wage employees

From this July, Infonavit will increase the amount of credit for workers who earn up to seven thousand pesos, who according to their salary may request a financing for a maximum of 390,000 pesos, which would benefit some 60000 beneficiaries.
The Director general of the Institute of the National Housing Fund for Workers (Infonavit), Carlos Martínez Velázquez, explained that the measure is the beginning of a more flexible and dynamic model to the previous administrations, which will attend to the circumstances of Each person.
READ: Infonavit will return savings to workers who quoted from 1972 to 1992 and did not claim their money
It will now be considered from your career path and the industry where you work to your ability to pay and the probability that you maintain a formal job over time, he said at press conference.
Maximum credit amounts apply for workers who earn from one UMA (two 1853 pesos) to 2.8 UMAs (seven 1192 pesos); The increase will be 16% equivalent to the increase to the minimum wage in 2019.
The agency estimates that in 60000 workers in this range of salaries, which work mainly in the trade and tourism sectors; 17% lies in Nuevo León; 10% in Jalisco, 10% in the state of Mexico and another 10% in Baja California.
“The approved increase confirms Infonavit’s commitment to the workers who have the least and need it most,” said Martínez Velázquez, who emphasized that the agreement reflects the strength of the tripartite administration of the Institute, where workers, Employers and government work together to put the successors at the center of their decisions.
READ: Do you have a debt to Infonavit? Government presents a plan for unpayable loans
According to information from the Institute, for workers who earn a UMA, the amount of the credit would go from 231,000 pesos to 269,700 pesos; While for those who earn 2.8 UMAs would go from 382,000 to 390,400 pesos.
Infonavit’s deputy director general for Planning and finance, Óscar Vela Treviño, clarified that in addition to offering the low-income worker an online financing with his purchasing capacity, the approved agreement seeks to preserve the long-term solvency of the Infonavit.
The institute will review each quarter the quality of the properties offered by the developers, as well as the prices in the market, in order to make the necessary adjustments to guarantee the minimum standards of quality of the houses.
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Original source in Spanish

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