Now that Mexico finance is becoming so readily available,more people are choosing this option over using cash to finance their Mexico real estate transaction.
Most Mexican banks require
a Migrant Visa (FM2) for a non-resident to obtain Mexico mortgages.
However,if there are
bank statements to prove the financial situation at home,some also accept an
FM3 (Non Migrant Visa). In other words,there is no need to be a Mexican citizen
to get a loan from a Mexican bank.
And just because your property is in
Mexico doesn't mean you are restricted to Mexican banks. In fact,a property or
home loan generated in Mexico is a little tougher than a loan generated in the
US or Europe,where it is much easier to foreclose a deal in case of
In Mexico,the same process is very complicated and takes much
longer. Therefore,additional precautions are taken.
Banks in the United
States and Europe have used this chance to jockey for position in mortgage loans
and started to offer so-called Cross-Border Mortgages,resulting in constantly
growing amounts loaned for the purpose of property acquisition.
believe this trend will continue - to the benefit of buyers - and are always in
touch with the latest movements on the bank market and set up the best possible
mortgage plans for our clients with the best rates available.
many Mexico homes for sale,we collaborate with mortgage companies that offer
special loan programs and real estate finance for Americans,Canadians and
Europeans with terms of 3,5 and 10 year Adjustable Rate Mortgages (ARM’s) or 30
year Fixed,no prepayment penalties.
The length of the loan can be
anywhere from 5 to 30 years,and for most banks offering mortgages to foreign
investors,the typical loan to value (LTV) amount is 80% to 90%. Also available
are Full Documentation and Stated Income Loans.
We work with a number of
hand-picked,reputable companies that we have chosen for the benefits they offer
you,the buyer. There has never been an easier time to find Mexico finance and you can even make a Mexico loan application online.