Puerto Vallarta: (322) 222-1113
USA/CND: 1 (888) 201-1095
info@crossborderinvestment.com

Conditions and Qualifications

M

ortgages are available for US and Canadian citizens and residents. The loans are usually issued by a Mexican bank that accepts foreigner borrowers. You will not be able to go into a bank branch in the US or Canada and get a mortgage using a property in Mexico as the collateral. The banks that lend to foreigners purchasing Mexican properties represent a fraction of the number of banks you would expect in the US or Canada, and they are usually offered through highly-specialized departments via representatives located in Mexico.

Following, you will find the corresponding information for mortgages that correspond to citizens and residents of the US and Canada.

US and Canadian citizens and residents
  • Nationality: US and Canadian citizens and residents

    Purpose: purchase, cash-out, land purchase, rate and term refinance, construction

    Maximum loan-to-value (LTV): up to 90% of the value of the property

    Lowest interest rate: 0%

    Currency: Mexican pesos

    Amortization period: up to 20 years

    Prepayment penalty: no prepayment penalty

    Minimum credit score: The borrower should not have significant late payments.

    Maximum debt-to-income (DTI): 70% (Borrower cannot spend more than 70% of his monthly income on current debt according to his/ her credit report + the mortgage for which he is applying.)

    Income Documentation: Bank statements / Paystubs / Tax returns

    *The loan terms and interest rates are subject to change without prior notice.



    Pre-Qualify
T

he concept of a mortgage broker is relatively new for Mexican clients. Those who purchase with a mortgage often go to the bank where they have their checking and savings accounts – regardless of the qualification requirements, loan terms and interest rates. Often this results in clients paying more in closing costs and monthly payments, and unnecessary loan denials. At Cross Border Investment we offer a variety of loan programs – our goal is to match you with the best mortgage for your needs. Obtaining your mortgage through Cross Border Investment means you have the best options competing for your business.

Following, you will find the corresponding information for mortgages that correspond to Mexican nationals and all foreigners who live and work in Mexico.

Mexicans and Residents of Mexico
  • Nationality: Mexican nationals and residents of Mexico.

    Purpose: purchase, cash-out refinance, land purchase, rate and term refinance, pre-construction, renovation, home completion.

    Maximum loan-to -value (LTV): 90%. Up to 100% COFINANCED (a bank and a government institution jointly grant the more.  For example, Cofinavit)

    Maxim loan amount: No maximum.

    Lowest Interest rate: 0%

    Amortization period: up to 20 years

    Maximum debt-to-income (DTI): 70% (Borrower cannot spend more than 70% of his monthly income on current debt according to his/ her credit report + the mortgage for which he is applying.)

    Income Documentation: Bank statements / Paystubs / Tax returns

    *The loan terms and interest rates are subject to change without prior notice.



    Pre-Qualify