“There are several developers nationwide who are beginning to offer these types of possibilities. They are lands with infrastructure: that already have basic services, that already have the infrastructure and that are basically ready for construction,” he said in an interview.
The specialist explained that in Mexico he 5% of credits that are given by the banking They are for the purchase of land. He Minimum amount that the bank and Infonavit will lend will be 350,000 pesos and does not have a limit, the conditions will depend on the client’s capacity.
The interest rate It will depend on the period in which the land is paid for. For example, At 10 years the rate is 11.99% and At 15 years the rate is 12.49%.
“Let’s assume that there is a piece of land worth one million pesos that the client would like to acquire and has a balance in the housing subaccount of 50,000 pesos; would be 5% of that amount, acquire a loan from Infonavit of 100,000 pesos, which would be another 10% and a loan with Banorte of 850,000 pesos, which would be 85% of the value of the land, if you add those three amounts, you give the million pesos,” he explained.
The idea is that people who do not have the resources to purchase a new or used home can begin to create assets and later be able to build the home, either with their own resources or with new financing.
“We will have to analyze the characteristics of the land and the client in terms of credit capacity, income, etc. so that we can offer a kind of improvement of a loan for land plus construction. It is not something so common but as an institution we are always open to review case by case in that sense,” Gándara highlighted.
The states of the country with the highest expectations for the placement of this type of financing are Querétaro, Guadalajara, Monterrey and some areas of Mexico City.
Optimism in the placement of credits
Gándara highlights that the bank shows optimism regarding the placement of housing credit in the following months.
He pointed out that in 2024 almost the same number of mortgage loans have been placed, although with lower amounts, but the expectation is that as Banco de México lowers interest rates in the following months, there will be more appetite for this type of credit.
“Last year in terms of land loans, we placed close to 400 loans. I believe that schemes like this are going to help a lot to increase the possibility of clients acquiring more land. “We see a very positive outlook for the remainder of the year and for next year with more favorable conditions,” he said.
Regarding Claudia Sheinbaum’s proposal to build one million homes in her six-year term, Banorte believes that the objective can be achieved to the extent that private initiative is involved in financing these projects.
