Banamex & Fovissste Sign Agreement to Grant Mortgages for Government Workers

Mexico City – Banco Nacional de México (Banamex) has signed an agreement with the housing fund for civil servants, Fondo de Vivienda del Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado (Fovissste), in order to support civil servants with mortgages in a joint financing scheme under highly competitive conditions.

The agreement includes two plans: Alia2 and Respalda2. Under the first plan, the worker will be able to buy the house with a value up to one million thirty nine thousand pesos (676 times the minimum wage), including the savings in their retirement account, plus the loans granted by Banamex and Fovissste. The second plan allows the worker to acquire a higher priced home (without limit), and able to use the savings in his retirement account, aside from obtaining a loan from Banamex.

The intention of Fovissste with these types of agreements is to benefit 1.6 million government workers that so far have not had access to these types of loans.

The Banamex – Fovissste programs are mainly aimed at civil servants who wish to acquire a new or used home with a starting value of $150,000 pesos, given they have a minimum monthly income of $5,500 pesos.

Banamex has different credit options in pesos and fixed rates, offering total certainty in all payments during the life of the loan, and the lowest monthly payments on the market.

In addition, Banamex has an agile authorization process for customers at branches.

In this way, Banca Hipotecaria Banamex (Banamex Mortgages) keeps on innovating in favor of Mexican families, to simplify the home acquisition process.