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Luis Alfredo
Mr. Luis Alfredo P. M. is in the process of applying to purchase a home through a Mexican government program called Infonavit. Infonavit provides working families with a low cost mortgage to purchase a small starter home. Some families' incomes land them just short of qualifying for the program, however. This Kiva loan allows them to make up the difference with a small supplementary loan and thus qualify to purchase their first home.

Mr. P. is an elder person, in Mexico people retire when they are 65 years old and that’s why he wishes to purchase a house through Infonavit. When retired, it’s more difficult to receive these types of loans that the government offers.

Luis Alfredo wants to take advantage of this opportunity from the real estate organization (who manages the Infonavit houses), because if he doesn’t, he will loose his qualifying points and money. To be able to purchase the house, he is short $1,050 dollars. The house being offered to him is close to his childrens' house, he also has a home but it is registered under his wife’s name Mrs. Maria del Carmen Rios.

He works during the week in a local factory and on weekends he sells different items in the flea market in Del Rio, Texas, a place minutes away from the border city of Acuña, his wife also helps him with the family expenses working in a residence as a housekeeper; with these different incomes they will be able to repay the loan requested.
View original language description ↓
Mr. Luis Alfredo P. M. is in the process of applying to purchase a home through a Mexican government program called Infonavit. Infonavit provides working families with a low cost mortgage to purchase a small starter home. Some families’ incomes land them just short of qualifying for the program, however. This Kiva loan allows them to make up the difference with a small supplementary loan and thus qualify to purchase their first home.

El señor Pérez ya es una persona grande de edad; en México la gente es jubilada a los 65 años, es por ello que esta persona desea adquirir una casa de infonavit. Al estar jubilado es más difícil adquirir este tipo de créditos que da el gobierno. Luís Alfredo quiere aprovechar esta oportunidad que le otorga una inmobiliaria (lugar que tramita casa de infonavit) ya que si no lo aprovecha en el futuro perderá sus puntos y dinero.Para poder comprar su casa a el le falta la cantidad de $1,050 dólares.

La casa que le ofrece la inmobiliaria queda cerca de la casa de sus hijos, el también consta de una vivienda pero esta es al nombre de su esposa La señora Maria del Carmen Ríos. El Trabaja entre semana en fabrica en esta ciudad y los fines de semana se dedica a vender pulga en Del Rió Texas lugar que queda a unos minutos de la ciudad frontera de Acuña, también la señora lo apoya con los gastos de familiares trabajando de afanadora en una casa y así con estos ingresos van a poder pagar el préstamo recibido.

Additional Information

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mexico

  • $11,249
    Average annual income
  • 11
    View loans »
    Mexico Loans Fundraising
  • $17,541,650
    Funds lent in using Kiva
  • 10.5
    Mexico Pesos (MXN) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Luis Alfredo purchase a house through the Infonavit program.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Sep 27, 2008
Listed
Sep 12, 2008
Currency Exchange Loss:
Covered
Ended:
Oct 15, 2009