Stewart Brown Jr – Mortgage Loan Originator – Purchase or Refinance
| Whether you’re looking for a perfect vacation home or a new investment property, buying a place in Mexico could be a great choice. Financing a property purchase overseas isn’t always easy — but there are options if you’re determined. A cross border mortgage is a mortgage taken out for a property purchase overseas — or one arranged in a country different to the place you draw your income. In this case, we’re focusing on cross border mortgages for Mexico. These are often offered through Mexican banks which are part of global corporations with a US arm. The Mexican bank will authorize the loan, which is then offered in USD through their US operation. In other cases, mortgage brokers may offer cross border mortgages through both US and Mexican lenders direct to foreign buyers. If you’re looking for a cross-border mortgage you may decide to use a broker which can make the process easier to navigate and may help you get a better deal in the end. The brokers may only offer products to US citizens, or accept applications from all over the world, depending on the relationships they have with lenders. You can finance a property purchase in Mexico in a few different ways, but your options may vary depending on your preferences and immigration status. Different products and arrangements may exist for:
If you’re a permanent resident of Mexico you may well be able to arrange a mortgage yourself directly with a Mexican bank. If you’re a non-resident you might be better off going through a broker who can help arrange a mortgage with a lender which will provide finance to non-resident buyers. It’s also possible to arrange vendor or developer financing. In vendor/seller financing you agree to buy the property using a loan from the seller, and in developer financing you’ll make a payment plan with the developer of a new property, to pay in stages throughout the build. |
| Whether you’re looking for a perfect vacation home or a new investment property, buying a place in Mexico could be a great choice. Financing a property purchase overseas isn’t always easy — but there are options if you’re determined. A cross border mortgage is a mortgage taken out for a property purchase overseas — or one arranged in a country different to the place you draw your income. In this case, we’re focusing on cross border mortgages for Mexico. These are often offered through Mexican banks which are part of global corporations with a US arm. The Mexican bank will authorize the loan, which is then offered in USD through their US operation. In other cases, mortgage brokers may offer cross border mortgages through both US and Mexican lenders direct to foreign buyers. If you’re looking for a cross-border mortgage you may decide to use a broker which can make the process easier to navigate and may help you get a better deal in the end. The brokers may only offer products to US citizens, or accept applications from all over the world, depending on the relationships they have with lenders. You can finance a property purchase in Mexico in a few different ways, but your options may vary depending on your preferences and immigration status. Different products and arrangements may exist for:
If you’re a permanent resident of Mexico you may well be able to arrange a mortgage yourself directly with a Mexican bank. If you’re a non-resident you might be better off going through a broker who can help arrange a mortgage with a lender which will provide finance to non-resident buyers. It’s also possible to arrange vendor or developer financing. In vendor/seller financing you agree to buy the property using a loan from the seller, and in developer financing you’ll make a payment plan with the developer of a new property, to pay in stages throughout the build. |
Reach out to me for further detailed information on loans to purchase property in Mexico.