Up until a few years ago, financing a property in Mexico was unheard of. Real estate transactions were cash only, and only a small number of people could afford to purchase property. Thanks to an increased demand, several U.S. mortgage companies are now offering financing to qualified buyers.
Financing programs are available to both U.S. and Canadian citizens. Loans for a dream home purchase are available from $100,000 to $5,000,000 USD (higher upon approval). The process for obtaining a loan for a home purchase in Mexico is very similar to the U.S.. One of the main differences is the escrow time. Escrow can range from 45-60 days, but can be streamlined by the buyer and seller providing all of the necessary paperwork on time. U.S. title companies, such as Stewart Title and First American, are used along with U.S. appraisals.
Make your dream home in Mexico become a reality...contact me with any questions you may have about obtaining a loan or Mexico in general!
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