Layoffs, an ally to acquire housing
Layoffs, more than a social benefit, are the gateway to financing your own home. In addition to being able to be used for the purchase or remodeling of a home, they are also applied for higher education, purchase of shares in public entities and purchase of insurance policies.
If you want to own a home, then severance pay savings will become your greatest ally, according to the FNA. The entity recommends saving the money from this benefit with a defined purpose to have the opportunity to buy your own home.
National Savings Fund / iStock
Simulate your mortgage credit
To make the purchase of a home more orderly and effective, the FNA recommends using the mortgage credit simulator, a free digital tool that will allow you to find out the monthly installment to be paid, depending on the type of financing -credit or housing leasing-.
You can access details such as home value, value of amount to be financed, annual or monthly interest rate, number of installments and term by entering the value of the home or, failing that, your monthly income. The page is:
Be careful, evaluate the financing rates
The National Savings Fund offers housing rates for layoffs from 7.50 percent in pesos and 5.50 percent in Real Value Unit (UVR). People with lower income – who earn less than two minimum wages – will be able to obtain lower value rates.
In case the savings is ‘voluntary savings in pesos’, the annual effective rate (EA) starts at 9.00 percent; while if it is ‘UVR voluntary savings’, the annual percentage drops to 7.00 percent.
choose a good ally
The search for financing your own home deserves a good ally. The National Savings Fund, for its part, calculates the yields of layoffs on the UVR of 12 percent EA Likewise, it does not make additional charges for withdrawing, managing or moving savings.
The entity also recalls that if you are young between the ages of 18 and 28, you can apply for a line of credit for Generation FNA that extends financing up to 90 percent -leaving an initial fee of 10 percent-, reduces the credit rate, and grants terms between 5 and 30 years.
National Savings Fund