Mexico - Apply for FOVISSSTE Mortgage Loan for Pensioners

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Procedure

Apply In Person

1. To Apply for FOVISSSTE Mortgage Loan for Pensioners, the applicant has to approach the Housing Fund of the Institute of Security and Social Services for State Workers. link
2. Once you know your prequalification status, you can begin searching for a property that meets your needs and budget. The property you choose must be eligible for FOVISSSTE financing.
3. An application form will be provided to the applicant by the concerned officer.
4. The applicant has to fill in all the necessary details in the application form. (Incomplete applications are not accepted)
5. Make sure that the applicant has attached all the necessary documents that are mentioned in the “Required Documents” section of this page.
6. The applicant has to attach the photocopies of the required documents along with the application form while submitting.
7. Submit all the documents with the completed form to the concerned officer.
8. The applicant has to pay the prescribed fee as requested by the authority.
9. 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.
10. If your mortgage loan is approved, you will be required to sign a loan agreement with FOVISSSTE, detailing the terms and conditions of the loan.
11. FOVISSSTE will conduct an appraisal of the property to determine its value and ensure it meets the necessary standards for financing.
12. Once the appraisal is completed, and all necessary documents are in order, the closing process will take place. This involves finalizing the mortgage loan and transferring ownership of the property to you.
13. This entire process can be completed within 15 days or per the timeline the respective department authority advised.

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Required Documents

• Application form
• Identification documents (e.g., passport, national ID card).
• Proof of address (e.g., utility bills, lease agreement).
• Proof of pension
• Bank statement
• Marital Status Documentation
• Proof of employment
• Any other documents (If required)

Office Locations & Contacts

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

Eligibility

The applicant may be eligible to apply for a FOVISSSTE mortgage loan for pensioners 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 pensioner from the Mexican government or a private company that is affiliated with FOVISSSTE.
• 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.

Fees

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

Validity

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

Documents to Use

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

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

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

Related Videos

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'.

Instructions

• 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 Information

• 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 Document

• The FOVISSSTE Mortgage Loan for Pensioners in Mexico is a government-backed loan that is available to pensioners who are looking to purchase a home.
• The loan is offered by the Federal Mortgage Fund for Public Servants (FOVISSSTE), a Mexican government agency that provides housing finance to public servants and their families.

Information which might help

The FOVISSSTE Mortgage Loan for Pensioners offers several advantages, including:

• Low-interest rates
• Long repayment terms
• No down payment required
• Government guarantees

Other uses of the Document/Certificate

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

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

External Links

link

Others

Here are some additional details about the FOVISSSTE Mortgage Loan for Pensioners in Mexico:

• The maximum loan amount is 1,500,000 pesos.
• The interest rate is currently 8.25%.
• The repayment term is up to 30 years.
• The loan is guaranteed by the Mexican government.