Congratulations and thank you for choosing Mexico as your destination to purchase your dream vacation home taking advantage of all the benefits that a Peso denominated mortgage loan will give you overtime.
Together with leading banks in Mexico, Tu Hipoteca Fácil has crafted an almost seamless experience that will enable you to continue your patrimonial growth.
Over the course of time the MXN has lost value vs the US DLLS, CAD and EUR and that is a very important advantage. Your income is denominated either in US DLLS, CAD or EUR and the mortgage would be denominated in MXN which translates into a very simple fact, over the term of your loan, every year you will need less US DLLS, CAD or EUR to purchase the same amount of MXN of your monthly fixed payments, while the property value and its capital gains remain in US DLLS.
December 7th 2021
This is great news for US, Canadian & European home buyers looking to close their mortgage denominated in Pesos
$1 million Pesos = $91,478 USD
$1 million Pesos = $46,178 USD
Furthermore, the fact that Mexico’s inflation vs US, Canadian and Europe’s inflation historically is higher, also proves advantageous as your hard earned US DLLS, CAD or EUR buy more and more MXN over time.
The aforementioned facts should give you more insight as to why it makes perfect business sense to take on a MXN loan with an annual percentage rate of around 8.5%, even though you are used to lower interest rates in your country of residence. The combination is just too good to pass while your investment is certain to appreciate year after year.
We look forward to walking you through the process every step of the way.
What You Need to Know
About Financing Your Dream Home in Mexico!
Financing is easy and mirrors similar process of those in the United States and Canada and most European countries:
- Earnest money/down payment is paid to the builder or seller. - -- - Appraisal fee is the only other upfront fee ($350-$600).
- All deals close at a top bank location with a Notary Public licensed by each state.
- Deals close in your trust name that evidence you own 100% of all rights related to the property.
- Banks used for financing are either HSBC or Santander depending on your unique profile.
You will need the following to purchase:
-Set up bank account at closing bank HSBC or Santander depending on your unique profile
-700 Equifax Credit Score
-30% Down due at contract
-7%-10% closing cost due at closing (so down payment + closing cost = 40% approximately)
-5yr, 7yr, 10yr, 15yr or 20yr. terms available
-Fixed rate “estimated” between 8.50% and 9.75% depending our your profile
-40% debt to income ratio
-2yrs Tax Returns - mortgage company uses GROSS income before expenses
-Whosever name is on the most recent tax return must be on the loan
-Mortgage DOES NOT report on a U.S. Canadian or European Credit Report
-No prepayment penalties
Apply for your