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Mortgages in Mexico ?

Discussion in 'North America Real Estate' started by CaroleBay, Jan 26, 2008.

  1. CaroleBay

    CaroleBay Senior Member

    Hi There

    I have an existing mortgage client who now wants to buy a property in Mexico.

    Is there someone out there who knows any mortgage brokers dealing with banks in Mexico?

    Please e-mail me.

    Thanks
    Carole Bayliss
    mortgagefrance.com
     
  2. Karyn

    Karyn New Member

    I don't know any UK companies that offer mortgages in Mexico, but there are a few USA companies that offer them. I believe you have to be certificated by the Mexican government to offer residential mortgages to foreign nationals.

    The immediate problem I see is that because coastal and border land can only be owned under a bank trust the issueing of a mortgage on this would be a specialist thing.

    If memory serves, and it is a couple of years since I was there, the US banks that do lend in Mexico require title insurance as well.

    You may want to look at a company called Mexlend (can't recommend them, I only know they exist and havent dealt with them) and also search for US banks with Mexican lending facilities.

    K
     
  3. CaroleBay

    CaroleBay Senior Member

    Hi Kirazli

    Thank you for that information - I'll pass it on.

    I was suprised to learn that there are some US banks that will lend in Mexico, I thought it would only be Mexican banks.

    Kind Regards
    Carole Bayliss
    mortgagefrance.com
     
  4. Karyn

    Karyn New Member

    The USA has always been the big market for holiday property in Mexico so they got mortgage deals for foreign buyers set up first. I don't know if they can work with people from countries outside the USA but its a starting point for you.

    Regards

    Kirazli
     
  5. coolhandluke121360

    coolhandluke121360 New Member

    Yes I deal with the major banks here in Mexico and I know all the ways of getting things down here LEGALLY!!!!!!! because there are many ways but everyone of them is a risk unless done RIGHT!!!!!
     
  6. Stuart

    Stuart New Member

    Mexican Mortgages

     
  7. Stuart

    Stuart New Member

  8. coolhandluke121360

    coolhandluke121360 New Member

    Mortgage brokers

    Carole,
    Th market has opened up tremendously and can be accessed by anyone these days. It used to be someone needed a "Presta Nombre" or Name Loaner, however with Stewart Title opening up in Mexico and big Companies such as Carlye Group and Blackstone, etc. many laws have changed for the better. There are many Mortgage Brokers in ajoining States (CA, TX, AZ, New Mexico) whose Mortgage Brokers work with many U.S. Banks as well as Mexican Banks to provide Mortgage for Investors and residential properties.
     
  9. Itchy461

    Itchy461 New Member

    What are mortgage rates and terms like in Mexico?
     
  10. vacation

    vacation New Member

    there is many more companies in usa who dealing property in mexico .
     
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