Real Estate Financing in Mexico
If you´re a foreigner who is interested in buying property in Mexico and are thinking about considering financing there are many options for you to choose from. Below are a few of the ones you can choose from.
If you own a house or condo in Canada or the U.S. you can use that to leverage a mortgage against this property. Talk to your banking institution and use the funds to make a cash purchase in Mexico.
A mortgage from a Mexican Institution is another option. This involves more paperwork and takes much longer. You will need a high credit score as well.
You can also get a “Bank Trust in Guarantee¨, which is a legal document naming you as the beneficiary of the property. It contains details about payment terms to guarantee that the seller will receive their payments on time, and that you will have legal and physical possession of the property while payments are being made.
If you´d like to read more about financing in Mexico CLICK HERE.
And remember, at Top Mexico Real Estate,
We make it happen!