What Is a Co-Financed Mortgage (Crédito Cofinanciado)?

A co-financed mortgage (crédito cofinanciado) is, in essence, the combination of two sources of financing to buy a home: typically the balance in your housing subaccount at Infonavit or Fovissste, plus an additional loan from a participating commercial bank. This combination lets you reach a higher total amount than you would with Infonavit alone or with a bank alone, which is useful when the price of the home you want exceeds the limit of your individual loan. It is a common option for buyers looking for a higher-value home without giving up the benefits of their accumulated Infonavit credit.

How it works in practice

In a co-financed arrangement, Infonavit or Fovissste contributes part of the total amount based on the balance accumulated in your subaccount and your registered salary, while the participating bank supplements it with an additional loan evaluated according to your repayment capacity and personal credit history. Both loans are formalized in a single deed (escritura) before a notary public (notario público) and result in a single monthly payment that combines the terms of both institutions, although interest rates may differ between the Infonavit portion and the bank portion within the same arrangement. Before choosing this option, it is worth comparing the total cost of the loan against other alternatives on the market, including traditional bank mortgages without co-financing.

Who this arrangement suits

A co-financed mortgage tends to be useful in several specific scenarios that are worth identifying before you start the process:

• When the Infonavit amount alone is not enough for the home you want
• When the worker wants to make the most of their accumulated housing subaccount
• When you are looking for more competitive bank terms on the complementary portion
• When you want to keep the benefit of Infonavit's payroll deduction
• When combined income with your partner allows you to qualify for a higher total amount

General requirements to consider

To access a co-financed mortgage, you normally need to have enough points at Infonavit or meet Fovissste's requirements, in addition to passing the independent credit evaluation the participating bank performs on the applicant. The bank will review your credit bureau (buró de crédito) history, job stability and repayment capacity for the portion it will lend directly, much like any traditional mortgage. It is also important to check which banks have an active agreement at the time of your application, since these agreements can change over time and not every institution participates permanently in the co-financing scheme.

Frequently asked questions

Can I combine Infonavit with any bank?

Only with banks that have an active agreement with Infonavit or Fovissste for co-financed loans. It is best to ask the institution directly which banks take part in this arrangement.

Does a co-financed mortgage have a single monthly payment?

Yes, it is normally combined into one monthly payment that covers both the Infonavit portion and the bank portion, although the terms of each portion may differ from one another.

Do I lose my Infonavit balance if I don't use the co-financed arrangement?

No, the balance in your housing subaccount remains available to use at another time or under another arrangement, as long as you meet Infonavit's current requirements when you apply for your loan.