If you have late payments on your credit report; or if you do not document all your income on your tax returns or bank statements; or if your qualifications do not fit into the square box that most banks require – DO NOT WORRY. CBI can most likely get you a mortgage and into that beach-front condo asap.
30% Minimum down payment
3.6% Interest rate
15 years Term
59 years old Maximum age
$140,000 USD Minimum purchase price
*Not available for preconstruction.
Please contact CBI today to start making your dream a reality
]]>Whether you are considering a beachfront villa or a preconstruction condo, Joshua knows the ins and outs of the different areas and developments to provide you with the best guidance.
Before your arrival, Joshua can review with you the process to purchasing a property, and you can also tour properties online, allowing you to adquiere some experience and take advantage of the time when you are in town.
If you are planning on purchasing a property in Puerto Vallarta, please reach out to Joshua today!
]]>When you purchased your property, were you unaware of the mortgage options available? Perhaps your financial situation has changed, and you could benefit by cashing out some of the equity in your property without having to sell. Maybe you purchased a property within the last couple of years, and with the significant increase in property values, you would like to access some cash from that property to purchase another property, or take advantage of a different investment opportunity.
The mortgages available for cash-outs are in USD and can be used by USA and Canadian citizens and residents. You could borrow up to 70% of the value of the property, the mortgage could be up to 30 years, the interest rates are between 9-13.5%, the majority of the fees to obtain the mortgage can be rolled into the loan amount, and you can use the proceeds of the mortgage for any purpose.
Please feel free to contact your CBI agent for more information.
Please note, that if you have purchased preconstruction and would like to obtain equity out of your investment, there maybe some options available when the property is ready to be deeded. For preconstruction properties, please contact us 3–4 months prior to when the property will be fully constructed and ready to be deeded.
]]>Remember, that aside from the USD mortgage, CBI is the only mortgage broker to offer peso mortgages as well. The peso mortgages can be an opportunity for clients who can qualify for a lower down payment requirement, or do not meet the qualification requirements for the USD mortgages.
Please click this link to see a comparison of the different categories of mortgages CBI offers.
Below, we have outlined the conditions that correspond to the USD mortgages:
Nationality: US, Canadian
Minimum down payment: 30%
Interest rates: 8.99-13.5%
Minimum credit score: 700
Income documentation: Tax returns, pay stubs, bank statements
Minimum property value: $140,000 USD
Geographic restrictions: No. (Property must be constructed)
The approval process is rather similar to what you would be used of in the US, and CBI coordinates all aspects of the closing to make the financing and closing on your property a seamless process.
After filling out the prequalification, CBI can provide a response within 1 business day, helping make your Mexican dream a little closer.
Please feel free to contact your CBI representative for more information.
]]>Benefits of having your mortgage approved:
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Are you planning a trip to Mexico overthe fall or winter?
Have your mortgage approval ready!”
· When you are looking for a property, you and your realtor know your budget.
· You understand your loan conditions – what you will need out-of-pocket and what your monthly payment will be.
· You have done a lot of the legwork by sending in all your documentation.
The mortgage approval will last for 3-6 months depending on the specific lender. It is very common for loan approvals to expire, and you would only need to update some time-sensitive documents, you would not be starting the process from scratch. In general, CBI recommends working on a loan approval around 3 months prior to when you are plan on entering a sales contract.
Please contact your CBI representative or fill out the prequalification format to begin the process of making your dream a reality!
]]>Before coming to Mexico, Joshua can assist you with some matters so that upon your arrival in Puerto Vallarta you are prepared and will make the best use of your time.
· Joshua can set-up a property search specific to your criteria so you can see the available properties. This will help you to get familiar with the real estate market, the different areas, etc.
· Joshua can explain to you the process to purchase a property: making an offer on a property, the inspection, due diligence, trust, deed signing, etc. This way, when Joshua finds you the property of your dreams, you are already educated about the processes in Mexico.
· Whether the property be a presale or a resale, Joshua can explain how the good faith money, the purchase price balance, and closing costs are all paid. This will assist you in your financial planning and you can prepare accordingly. If you are going to pay with a mortgage, Joshua can assist with that as well.
Of course, the fun part is when we get to tour some of the fabulous properties we have in the Puerto Vallarta region. If you come down with some preparation, we can take advantage of the time we spend seeing properties, allowing you to max your beach and margarita time!
Please contact Joshua – it is not too soon to begin the search for your dream property.
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