Financing options for buying real estate in Mexico.
#1.-Seller financing:
Common seller financing options are 40% to 50% down at closing, 6% to 8% interest rate, principal and interest payments amortized over 10–20 years, with a balloon payment due in 2 to 5 years.
#2.-Developer financing
Every developer has their own term, estimate is 40%-50% down (more or less) interest variate from 6.5%- 7.9% depending on the qualification
#3.-Financing through a Mexico bank
We work closely with banks and are in a position to furnish you the best option available, we have a tool that will allow you to compare the best interest rates and factor them with the ROI (Return on investment) of the property that you are interested in purchasing. Foreigners can secure a credit with a Mexican bank of up to 65% of the value of the property appraisal. It is the same steps to get the mortgage as a Mexican citizen. There are several pros of financing your property in Mexico:
Currency: US Dollar.
Nationality: USA or Canadian citizens.
Immigration status: temporary, permanent or no residency.
Minimum property value: $250,000.00 USD.
FICO Score: 720
Loan-to-value: up to 65% of the appraisal value (risk adjusted).
Loan length: 1 to 25 years (risk adjusted).
Fixed rate: defined according to credit profile and market conditions.
Fees: underwriting, closing and origination.
Benefits: Securing a loan in Mexico will not impact your credit score back home, no prepayment penalty, interest is calculated on the unpaid balance, a One-stop banking experience
Other options:
| NAME | PHONE # | WEBSITE | MINIMUM | INTEREST RATE | DOWN PAYMENT | YEARS | CURRENCY | |||
| Maria Lourdes Pro | USA: 480-233-9045 & MEX:662-268-9674 | www.lourdespro.com | $60K | 8-11 % | 20% | 5-25 yrs | Pesos or Dollar | |||
| HELOC (Home Equity Line of Credit) | USA:520-387-2200 | www.firstmerchants.com | $5K-$100K | 8.75%-10.50 | 20% | 20 yrs | Dollars | |||
| Intercam Dream Loans | US & Canada: 1 800 658 99 18 | Mexico: 55 5033 3320 | www.intercamdreamloan.com | $250K | 8-11 % | 65% of the appraisal value | 5-25 yrs | Dollars | |||
| Dream Alfa Mortgage | USA: 520-818-4241 & MEX:662-141-0954 | www.dreamalfa.com | $250K | 7%-9.5 | 65% of the appraisal value | 1-25 yrs | Dollars | |||
| National Bank of AZ (equity line) | USA:520-387-2200 | WWW.NBAZ.COM | $10K | APR 21% | maximum 80% Loan to Value | 5-25 yrs | Dollars | |||
| Mexico Home Investor | USA: 786 7634450 MEX:5557507342 | www.mhinversionistas.com | $60K | Depends on loan | 10%-30% | up to 20yrs | Pesos or Dollar | |||