Wikiprocedure

Mexico - Apply for FOVISSSTE Co Financed Mortgage Loan

Page Discussion

Advertisement

ProcedureEdit

Apply In Person

  1. To Apply for FOVISSSTE Co Financed Mortgage Loan, the applicant has to approach the Housing Fund of the Institute of Security and Social Services for State Workers. link
  2. FOVISSSTE has agreements with various private financial institutions that participate in the co-financing program. Research and choose a financial institution that suits your needs and offers the best terms.
  3. Apply for prequalification with the chosen financial institution. They will assess your financial situation and determine the loan amount you may be eligible for.
  4. Once you know your prequalification status, start searching for a property that fits your budget and is eligible for FOVISSSTE financing.
  5. An application form will be provided to the applicant by the concerned officer.
  6. The applicant has to fill in all the necessary details in the application form. (Incomplete applications are not accepted)
  7. Make sure that the applicant has attached all the necessary documents that are mentioned in the “Required Documents” section of this page.
  8. The applicant has to attach the photocopies of the required documents along with the application form while submitting.
  9. Submit all the documents with the completed form to the concerned officer.
  10. The applicant has to pay the prescribed fee as requested by the authority.
  11. After receiving the application, the concerned authority will check the submitted application and document set. If all are in place, the application will be accepted.
  12. Then the application will be processed further. All the updates on the application status will be sent via SMS to the applicant’s mobile number.
  13. The financial institution will review your application, credit history, and documentation. If approved, they will issue a loan offer, detailing the loan terms and conditions.
  14. FOVISSSTE will co-finance a portion of the loan. The financial institution will coordinate with FOVISSSTE to complete the co-financing process.
  15. Once all the financing arrangements are in place, the closing process will take place. This involves signing the loan agreement, transferring ownership of the property, and disbursing the loan amount.
  16. This entire process can be completed within 15 days or per the timeline the respective department authority advised.


Advertisement

Required DocumentsEdit

  • Application form
  • Identification documents (e.g., passport, national ID card).
  • Proof of address (e.g., utility bills, lease agreement).
  • Proof of employment
  • proof of income
  • Tax return
  • Bank statement
  • Credit report
  • Sales report
  • Any other documents (If required)


Office Locations & ContactsEdit

Housing Fund of the Institute of Security and Social Services for State Workers.
Miguel Noreña No. 28 Col. San José Insurgentes 03900 Mexico City
Phone: 800 368 4783
Citizen Service: 800 368 4783
Email - [email protected]
Contact link

EligibilityEdit

The applicant may be eligible to apply for a FOVISSSTE Co Financed Mortgage Loan in Mexico if you meet the following requirements:

  • You must be a Mexican citizen or a foreign national with a legal residence in Mexico.
  • You must be a salaried worker or a government employee.
  • You must have a minimum of 18 months of continuous employment with your current employer.
  • You must have a minimum monthly income of 2,500 pesos.
  • You must not have any outstanding debts with FOVISSSTE.
  • You must be able to provide a down payment of at least 10% of the purchase price of the property.


FeesEdit

  • The applicant has to pay the prescribed fee as requested by the authority.


ValidityEdit

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever


Documents to UseEdit

Please attach documents that can be used by people. e.g. links


Sample DocumentsEdit

Please attach sample completed documents that would help other people.


Processing TimeEdit

  • This entire process can be completed within 15 days or per the timeline the respective department authority advised.


Related VideosEdit

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.


InstructionsEdit

  • Applicants must complete the application form before submitting it. Incomplete applications will not be accepted.
  • Applicants must provide genuine information while applying for this procedure.


Required InformationEdit

  • Name
  • Surname
  • Address
  • ZIP code
  • Date of Birth
  • Gender
  • Mobile number
  • Fax
  • Email
  • Parents name
  • Nationality
  • Education details
  • Mailing address
  • Other details
  • Declaration
  • Date
  • Signature


Need for the DocumentEdit

  • The FOVISSSTE Co-Financed Mortgage Loan in Mexico is a housing financing program that allows eligible public sector workers to obtain a mortgage loan with the support of both FOVISSSTE (Fondo de la Vivienda del Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado) and a private financial institution.
  • The co-financing option is designed to provide borrowers with more substantial loan amounts and potentially better interest rates compared to traditional mortgage loans.


Information which might helpEdit

  • The FOVISSSTE Co-Financed Mortgage Loan program aims to facilitate homeownership for public sector workers by providing them with access to competitive mortgage financing options.
  • The combination of support from FOVISSSTE and a private financial institution helps make homeownership more attainable for eligible borrowers.



Other uses of the Document/CertificateEdit

Please explain what are other uses for obtaining this document/certificate.

e.g. Birth Certificate can be used as proof of identity.


External LinksEdit

link


OthersEdit

More information might help people.


Retrieved from "https://www.wikiprocedure.com/index.php?title=Mexico_-_Apply_for_FOVISSSTE_Co_Financed_Mortgage_Loan&oldid=104650"