Mortgages for Mexican Properties
Your Dreams Fullfilled
Having a second or vacation home is now within reach. Just as you can finance a property purchase in Canada or the U.S. you can now do the same thing here in Puerto Vallarta. For the past several years, Canadians and Americans have been able to purchase properties in Mexico using a traditional mortgage. At Homes Vallarta we recommend Cross Border Investments. They are a one stop shop for people wishing to purchase a vacation or second home here in Puerto Vallarta. They provide premium financial services in Mexico – including mortgage brokering and closing coordination. They use only Mexican Banks and offer products not available from other brokers or banks.
Conditions and Qualifications
Mortgages are available for US and Canadian citizens and residents. The loans are usually issued by a Mexican bank that accept foreigner borrowers. You will not be able to go into a bank branch in the US or Canada and get a mortgage using a property in Mexico as the collateral. The banks that lend to foreigners purchasing Mexican properties represent a fraction of the number of banks you would expect in the US or Canada, and they are usually offered through highly-specialized departments via representatives located in Mexico.
 
Following, you will find the corresponding information for mortgages that correspond to citizens and residents of the US and Canada.
US and Canadian citizens and residents
Nationality: US and Canadian citizens and residents
Purpose: purchase, cash-out, land purchase, rate and term refinance, construction
Maximum loan-to-value (LTV): up to 90% of the value of the property
Lowest interest rate: 0%
Currency: Mexican pesos
Amortization period: up to 20 years
Prepayment penalty: no prepayment penalty
Minimum credit score: The borrower should not have significant late payments.
Maximum debt-to-income (DTI): 70% (Borrower cannot spend more than 70% of his monthly income on current debt according to his/ her credit report + the mortgage for which he is applying.)
 
Income Documentation: Bank statements / Paystubs / Tax returns
 
*The loan terms and interest rates are subject to change without prior notice.
 
You can
before you get here so you know how much you can spend on a property. Now your search for a place in the sun becomes much more fun knowing what you can afford and want to afford. You can fill in the form
. Just fill in the necessary information and mention you are working with us.
 
The concept of a mortgage broker is relatively new for Mexican clients. Those who purchase with a mortgage often go to the bank where they have their checking and savings accounts – regardless of the qualification requirements, loan terms and interest rates. Often this results in clients paying more in closing costs and monthly payments, and unnecessary loan denials. Cross Border Investment offer a variety of loan programs – their goal is to match you with the best mortgage for your needs. Obtaining your mortgage through Cross Border Investment means you have the best options competing for your business.
Following, you will find the corresponding information for mortgages that correspond to Mexican nationals and all foreigners who live and work in Mexico.
Mexicans and Residents of Mexico
Nationality: Mexican nationals and residents of Mexico.
Purpose: purchase, cash-out refinance, land purchase, rate and term refinance, pre-construction, renovation, home completion.
Maximum loan-to -value (LTV): 90%. Up to 100% COFINANCED (a bank and a government institution jointly grant the more.  For example, Cofinavit)
Maxim loan amount: No maximum.
Lowest Interest rate: 0%
Amortization period: up to 20 years
Maximum debt-to-income (DTI): 70% (Borrower cannot spend more than 70% of his monthly income on current debt according to his/ her credit report + the mortgage for which he is applying.)
Income Documentation: Bank statements / Paystubs / Tax returns
*The loan terms and interest rates are subject to change without prior notice.
You can pre-qualify by
on the CBI web site and tell them we sent you.
Once you have received the pre-qualification, let us know when you are coming down, and working with your wants and needs we will have properties ready for you to view and purchase. Just
contact us
to begin the journey to your new place in the sun of Puerto Vallarta.
Contact Homes Vallarta Toll Free Canada and U.S.A. - 1-844-894-4905 Ava Ferguson local cell - 322-197-1305 Glenn Ferguson local cell - 322-197-1306
Contact Homes Vallarta
Toll Free Canada and U.S.A. - 1-844-894-4905
Ava Ferguson local cell - 322-197-1305
Glenn Ferguson local cell - 322-197-1306