How To Get a Mortgage in Mexico

New Mortgage Financing Opportunities in Mexico

Exciting news for those dreaming of a second home in Mexico or diving into the world of real estate investment! New mortgage financing for properties in Mexico.  Simplifying foreign real estate ownership with tailored solutions for vacation homes and investment properties. Read on to learn about how to get a mortgage in Mexico!

Foreign Real Estate Ownership in Mexico Simplified

A new lender is offering unique mortgage products and support services designed to match individual circumstances, timelines, and financial needs for vacation properties, foreign residences, or investment properties.

The mortgage process is made for non-resident foreign nationals, providing unique benefits for purchasing or refinancing properties in Mexico.

Vacation & Second Home Financing

The new mortgage financing process offers unique benefits for those looking to purchase or refinance in Mexico:

– Reduced Foreign Exchange Costs: Make your money go further by reducing the one-time upfront impact of foreign exchange costs. All-cash transactions are not the only option.

– Increased Buying Power: With financing available, expand your property value budget as you’re not restricted to all-cash transactions.

Read more: Why People are Moving to Huatulco

Residential Rental Property Financing

For real estate investors,  financing for residential rental properties can create a potential revenue stream and future capital appreciation.

FAQ – Your Mortgage Financing Questions Answered: How to get a mortgage in Mexico

1. Where are mortgage lending services offered in Mexico?

   – Mortgage lending services are currently offered in  the Top Emerging Mexico Real Estate markets: Oaxaca State, Yucatan State.

2. What are the requirements for mortgage approval/how to get a mortgage in Mexico?

   – You will be required to have a credit score of 660+, sufficient income to cover monthly debt (rental income considered), sufficient funds to close the deal (including Mexican closing costs), and an adequate appraisal.

3. What type of properties can be financed?

   – Financing any existing residential properties as long as they are being purchased through a Fideicomiso.

Read more: 10 Reasons Why Moving Your Family to the Oaxaca Coast is an Excellent Idea

4. How are loans financed?

All loans are financed in Canadian Dollars and at loan to value rate of 70%. 

5. How long does the approval process take?

   – The approval process duration is based on verifying the four required underwriting tests:

a) Credit score 660+

b) Sufficient income/revenue to service the loan PMT (may include rental income)

c) Verification of sufficient funds to pay down payment plus closing costs

d) Satisfactory appraisal.

Upon receipt of the application, a conditional commitment is provided.

The opportunity to have mortgage financing in Mexico opens up exciting opportunities for those seeking a second home or investing in Mexican real estate. With simplified processes and tailored solutions, this new opportunity can turn your Mexican real estate dreams into reality. Don’t miss the chance to unlock your Mexican dream—explore your mortgage financing options today!

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