THE lowest mortgage interest rates for purchases in Mexico are listed below - please check these out. These rates are current as of February 14, 2012 and are the lowest rates available in Mexico. Any other rates and down payments requirements that you see on the web that are lower are not current. We have all the loan programs available in Mexico for US, Canadian, British and Spanish citizens who want to purchase real estate in Mexico. We keep this page updated as changes occur, but please contact us to verify these rates. You will find that mortgage brokers "drink from the same well" - we all have the same rates and loan programs. (Some of the smaller brokers only carry a limited number of programs.) These posted rates are not negotiable based on "yield spread premiums" or "service released premiums" which are ways to adjust interest rates and points in the United States.
Since interest rates are not a determining factor in choosing the loan officer you choose to work with, you need to decide what loan officer and company will do the best job for you. What makes us different? Mortgages in Mexico has a successful, proven track record for closing loans in Mexico. Mexico is our full-time business - we don't do loans in the US or Canada. Doug Jones has personally closed hundreds of loans in Mexico and has been doing loans exclusively in Mexico longer than anyone - since 2004. We have the records to prove these statements. There are other good companies doing loans in Mexico, but why risk working with a new loan officer at an existing company, or worse yet, work with a company that has never closed a loan in Mexico?
Everyone looks good on the internet because it is their own self-promotion. Mexico isn't an easy place to do business. When you get your Mexico mortgage from Mortgages In Mexico, you will get the benefit of our extensive experience and level of service that Canadian and US Citizens have come to expect from doing North American finance in your home country. We have teams throughout Mexico and in our US processing center. These groups of talented and professional people have evolved into a highly efficient team which anticipates problems BEFORE they occur. Should we run across something new (which does still happen - we remain students of the business), we have the people (including knowledgeable Mexican attorneys) in place to work through these concerns and get the transaction closed. Our individual institutional lenders also have legal departments to check and double-check all closing documents to make sure everything is 100% perfect.
Having done business in Mexico longer than anyone, we can attest that the different "awards", "accolades" and "top rankings for production and service" that other lenders show on their websites are simply window dressing at best, and bogus at worst. If you research these awards and accolades, you will find that they don't exist - we know because we have pioneered the mortgage industry in Mexico - we've worked with all the lending partners since the beginning. Again, everyone is looking for ways to set themselves apart from the competition. Our previous clients, real estate agents and developers do the talking for us and we are happy to let you talk to them. Please also check out the testimonies from some of our previous clients, real estate agents and developers by clicking the "What Others Are Saying" tab at the left of this page. The "proof is in the pudding," and we don't do a lot of talking and hyperbole - we just get the job done professionally, smoothly and quickly. Mortgages in Mexico is the trusted name in Mexico mortgage lending since 2004. Make us your choice to do your loan by clicking on the "Apply Online" tab at the left of this page.
Rates Updated December 5, 2011.
Maximum loan is 65% of purchase price (purchase price X .65 or purchase price X 65%) Some programs are maximum loan of 60% of purchase price.
Down payment assistance is allowable for all of these loans. Contact us for more information.
Credit Score of 680 Require - USDollar based
Downpayment 35%
5 Yr Fixed/5 yr Adjustable (10 yr term)
7.59%
Downpayment 35%
5 Yr Fixed/10 yr Adjustable (15 yr term)
7.80%
Downpayment 35%
5 Yr Fixed/15 yr Adjustable (20 yr term)
7.99%
Downpayment 35%
30 Yr Amortization/15 yr Balloon (15 yr term)
8.75%
Prepayment penalty is 2% for the first 5 years - nothing after 5 years Required hazard insurance, life/disability insurance and fideicomiso/bank trust fees are in addition to the above interest rates and escrowed in with your monthly payment.
British and Spanish citizens - please call or email for current rates - for a Euro-based loan.
Credit Score of 680 Required - Peso based
Downpayment 25%
10, 15, & 20 year term, $60,000-$500,000 USD
10.9%
Downpayment 35%
10, 15, & 20 year term, 500,001-$750,000 USD
10.9%
Downpayment 40%
10, 15, & 20 year term, 750,001 and above
10.9%
10.9% interest rate includes required hazard insurance, life/disability insurance & fideicomiso/bank trust fee. "Net" interest rate excluding these fees, to compare with USDollar based loan is less than 9.4%
Monthly Payment increases 2% every year. For example, a payment of $1,000 will increase to $1,020 the 2nd year, $1,040, the third year, $1,060 the fourth year until year 14.
Underwriting guidelines vary between different loan programs - please call to discuss the different qualifications required and to determine which loan program options will be best for your particular purchasing and selling strategy.