FOVISSTE for everyone: how to get mortgage credit up to 4.8 million pesos

The Housing Fund of the Institute for Social Security and Services to State Employees (FOVISSSTE), has set up a new mortgage loan project in pesos and which has discounts via payroll: FOVISSTE for all.

This credit plan is designed for basic and trusted active beneficiaries who want to use their credit with this type of discount. Thanks to this program, workers will be able to obtain financing from 100,000 pesos, up to 4 million 800 thousand pesos; depending on the income and payment capacity of the worker who requests it.

Among its characteristics, FOVISSSTE for all allows the acquisition of new or second-hand housing and beneficiaries will not be subject to the rating procedure, as in the case of traditional credit members from the same agency. In addition, payment terms or payroll discounts will be five, 10, 15 or 20 years in pesos, fixed rates and terms; no commission will be charged and there will be no program update, as reported by the agency via its official website.

On the other hand, This project allows the approval of candidates with a flexible credit bureau and also has the possibility of pooling 100% in the case of spouses who contribute to FOVISSSTE.

These are the conditions required to apply for the credit:

Have at least 18 months of contribution to FOVISSSTE

Be an active worker in the service of the State

Respect the minimum age of 25 years and maximum of 70 years (the sum of the age and the duration of the credit must be less than 80 years)

· Not be issuing an opinion for the granting of a pension, temporary or permanent, for invalidity, total or partial invalidity; or in the process of voluntary retirement in accordance with the law

Apply for a loan from participating banks or via SOFOMES (Multiple Purpose Financial Companies) authorized to issue the mortgage loan

In addition to these requirements, You have to know the applicant’s credit capacity and generate a file in Banks or SOFOMES authorized by FOVISSSTE. The documents required to integrate this file are:

· Credit application

Official identification

Proof of address

Proof of income

Single electronic file, can be obtained by entering the following link: www.gob.mx/issste

Beneficiary authorization form for consultation in credit companies

On the other hand, when the home is sold, the interested parties must check that it is 100% built, that it has all the services and registered expertise., because once the file has been integrated and the amount of the credit has been defined, the bank will register it in the FOVISSSTE system; to carry out the final verification of the amounts, where the total price of the house, the terms of payment, the delivery time and the exact location of the property will be established.

By meeting the above requirements, the credit granting process will end with the signing of the deeds before a notary, requested by one of the participating banks, which must indicate the documentation to be submitted to complete the process. It should be noted that FOVISSSTE will support workers who request the loan up to 50% of the notary fees resulting from the preparation of the mutual contract and registration in the public property register (RPP).

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