Cross Border Investment (CBI) has been the premiere mortgage broker working in Mexico since our company was established in 2011. We have helped to develop many of the mortgages which are now common place in the market. There have been some exciting changes in recent years, and there are options available for US/ Canadian type of lending on properties in Mexico. Furthermore, the mortgages are available to purchase a constructed house or condominium, and can also be used to cash-out on a property you already own.
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.