Job Discussion Forums

[tagastelum]

Greetings from Monterrey!

I've been working for a university here for three years and I've been paying into the Infonavit fund for at least 5 of my 6 semesters.

So have I been accumulating Infonavit points over this time? Are FM3 no-inmigrante visa holders eligible to accumulate points?

If any of you have experience earning and then cashing in your points, I'd be interested to hear from you. I'm in Mexico for the long haul and it's time to start thinking about investments.

Thanks in advance.

[Samantha]

I am sure Melee will elaborate on this, but in the meantime here is the official website with loads of information.

http://www.infonavit.gob.mx/

[MELEE]

Sam's right.

I have a house that I bought with my infonavit credit. As an FM3 holder you are eligible, you must get special permission to own land, but that's not very complicated once you find the right people to give it to you. If you go to the link Sam posted, and put in your IMSS number you will find out how many points you have. You need to get X amount of points, depending on the region you live in. I needed 116 and I had that after 5 years working. The more points you have the more they will lend you and houses cost more in different areas, so that's why you need more someplaces than others. You best bet would be to decided where you want you house, the easiest thing is in one of those "infonavit" developements. There are also lots of private contractors who work with infonavit credit, it's almost as easy to go with one of them (that's what I did). Or you can also get credit to buy an exsisting house--there are loads of restrictions on that because the program is ment to stimulate the construction industry. Or finally you can get credit to build you own house on your own land--there are also restrictions, like you can't build an adobe house--remember the program is as much about the construction industry as it is about housing the workers! So the first thing you should do is go around looking at developments, deciding which ones you like and talking to the people about if they like living there and if they had any problems with the contruction company.

[Wouter]

Melee is right too but there is one small thing that I think is missing. Not for this particular question because this person is registered with IMS. Having an FM3 is not enough to build up infornavit points. You have to pay taxes. The company where you work for have to register you with IMS. If you are registered here you automaticly build up points.

Wouter

[tagastelum]

Thanks everyone for the informative responses!