Requirements to obtain a second Fovissste loan
Having a second Fovissste home loan is a possibility for many state workers who want to buy a home and increase their investments. We tell you the most important requirements that you must meet to request this second benefit.
The Fovissste, or Housing Fund of the Institute of Social Security and Services for State Workers, is a financial institution that provides mortgage support to active state workers that allows them to buy a house, an apartment, and even build on land .
If you have previously benefited from one of these loans, surely you already know some of the necessary requirements to be a creditor of a first Fovissste financing , however, if you are looking to expand your assets and want to buy another property, it is better that you know the requirements for a second Fovissste credit that you must fulfill so that the process goes in the best way.
Requirements for a second Fovissste credit:
- Have finished paying your first Fovissste loan
- Be an active state worker
- Choose the type of house and the type of second home loan Fovissste
- Collect the documents
- Choose an authorized financial institution
Have finished paying your first Fovissste loan
This requirement for a second Fovissste loan is one of the most important. When a person is benefited by one of these mortgage loans, he is not allowed to apply for a second loan until he has paid off his first debt.
This rule is specifically established to protect the interests of both parties, both the financial institution and the beneficiary, who would have to cover two mortgage payments simultaneously.
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Be an active state worker
Being an active worker means that you continue working normally and you still have more than 18 months of contributions or contributions to your housing subaccount. Also, as a requirement for a second Fovissste loan, you must verify your age and that you are not close, or in the process, to obtain your retirement, a permanent or temporary pension, a leave due to total disability or a voluntary retirement.
Choose the type of house and the type of second home loan Fovissste
By getting a second Fovissste loan, you can choose between buying a new house or buying a used house. You will also have the opportunity to choose your property from a Fovissste real estate catalog and select the type of mortgage that best suits your needs.
The second Fovissste credit options are: Traditional Credit, Backed, Aliados Plus and Credit in Pesos.
Collect the documents
Some of the documents required for a second Fovissste credit are: the Fovissste credit application format (depending on the type of credit you have chosen), a copy of your official identification, CURP, proof that your previous debt has been paid, proof to have a current job and Unique Housing Code (CUV).
The CUV which is made up of 16 digits used to identify the properties and make the processes more efficient.
Choose an authorized financial institution
Although it is Fovissste who is in charge of making the second mortgage loan, the procedures, processes and consultancies must be carried out through an authorized financial institution or SOFOMES.
These companies are not imposed by FOVISSSTE and it is you who is in charge of investigating and choosing the entity that best suits your needs. Due to this, it is always recommended to be careful when placing your trust in a SOFOMES to help you manage your second Fovissste loan and buy a house.
Do you meet all the requirements? Think no more! Apply for your second Fovissste loan, buy your second home and secure your future.