MortgagesInMexico.com

THE experts in Mexico home loans

Requirements/Documentation BORROWER REQUIREMENTS... Minimum $ 20,000 verifiable household annual income (may be less, depending on loan program) 2 years tax returns (if closing after April 15, then the previous year return is required even if on IRS extension) If the applicant is self employed, a 2 year minimum history in the same activity will be required. Home phone numbers, cell phone numbers, email address and any other contact information Foreign (non-Mexican national) buyers will need a current passport for their country of origin. Bank statements to verify assets for downpayment and closing costs 35% to 42% debt-to-income ratio, depending on loan program BORROWER DOCUMENTATION... Loan application (may be completed online through this website or on the telephone with your loan officer) Credit report authorization forms filled out and signed by the borrower and co-borrower Official identifications: Passport, or Drivers license. (scanned copies) Evidence of income: Employees payroll checks: Payroll check stubs for the last 2 months or current P&L if self-employed Most recent 2 years of tax returns - both personal and business returns if 25% or more ownership in company 2 year recent W-2's (if salaried) Source of downpayment & closing costs: 2 month recent bank statements (Checking, Savings or investments) showing activity and cash resources Credit: 680 minimum FICO/Beacon score (720 required for a re-finance loan - cash-out refinances no longer available) No late mortgage payments in the last 24 months are allowed If you have multiple open 1st mortgage loans in your home country, please call or email to discuss requirements Other considerations: Special visa (FM3 or FM2) is NOT required to purchase property in Mexico with a mortgage loan Power of Attorney may be used if you will not be able to attend the closing in Mexico.  We will prepare this for you. We will provide you with a complete list of documents you will need to provide us once we see your application.  We provide a complete list up-front so you do not have to continue to provide "just one more thing" over and over again.  We know you're busy and have a life outside of applying for a mortgage loan. Contact Us Today: 918-398-9588 (Canada/USA) Toll-Free 866-484-8075 617-600-9675 (FAX) 555-350-6331 (In MX) Info@MortgagesInMexico.com NMLS License #139780 Copyright 2004-2011. All rights reserved.