Financing Property in Mexico: Is it Possible?
Mexico is a destination-rich country that is surprisingly easy to finance property in which foreigners can get home loans and financing. There is unparalleled beauties coast to coast. We have you covered from purchasing your first getaway home to your permanent tropical paradise. The options are endless, from the north in Cabo San Lucas to the pristine beaches of Puerto Vallarta and the Riviera Nayarit to the south including Cancun and Playa del Carmen. We are excited to help you find your gem and experience the magnetism real estate in Mexico has to offer. There are even home loans for foreigners.
Unquestionably, our job is to make purchasing your home fun and easy. One of the first steps in the process is to look at your budget and decide how you are going to pay for your dream. Financing a house in Mexico is an easy possibility. For some, it may be a full cash purchase. We want to point out that there are more options available. You might have questions like, “Can I finance a house in Mexico?” We are real estate agents in Mexico who are excited to talk and help you with your situation. Here are a couple of general finance questions that we have found to be helpful. We are here with our knowledge and insights every step of the way.
Financing Questions for Foreigners in Mexico
First and foremost, before addressing financing property in Mexico, there might be a fundamental question that you need to be answered. Can a foreign buyer purchase real estate and what are the extra steps needed for buying at the coast? The Mexican constitution says that no foreigner can directly own titled property within 50km of the coast or 100km of the border. If you are not a Mexican national and want to buy property in these restricted areas, it is done via a bank trust or Fideicomiso in Spanish. Our partners work with you to create trust as part of your purchase process. You may choose to hold your rights to the property in your name(s), a US-based revocable trust, LLC, or corporation.
Subsequently, comes your question: can I finance a house or property in Mexico? At MexHome, we have partners that support us with financing options for foreign buyers. Our associates offer U.S. citizens safe, sound and secure cross-border mortgage financing for purchasing real estate in Mexico.
Next, it is generally asked: how do I qualify for home financing in Mexico? We can help start the mortgage or refinance process. We are excited to have a conversation so that our team of experts can help you buy your dream home.
Lastly, there can be questions regarding financing options for plots of land or construction projects. Currently, our partners only have financing options for completed, habitable residential properties. This includes condos, single-family residences, 2-4 unit residential properties, and mixed-use properties where 50% or more of the square footage is residential.
The Home Buying Process
For us, helping to secure financing for a property in Mexico is a fundamental first step. We know the home-buying process. Experts beginning to end, we do not stop with financing. We continue in the dream home buying process by looking at your budget and securing financing if necessary. Next, we bring your dream to life. By answering questions like the preference for location, style of home, essential amenities, budget, and what my lifestyle wants and needs. The search is on and we use our vast resources and local market knowledge to turn your dream into a reality. We are committed to getting you the best possible value for your dollar so you have a profitable investment.
An offer is made when you find your tropical paradise and we work for you with our extensive knowledge and negotiation skills. At this point, we work to get your offer accepted using our understanding of the local market and experience. When the offer is accepted, you can move to the next steps in the home-buying process. At this time you begin the closing of the property. You should have a timeline for when conditions like inspections and financing will be completed. The offer becomes a legally binding contract when all the conditions are fulfilled. Lastly, we are with you at the Notario to complete the closing process. We guide you through and are there every step of the way in the purchasing process. MexHome is with you from the beginning until the keys to your dream home are in your hand.
Our Knowledge Gets You Results
Without a doubt, the hardest step is taking the plunge and deciding to buy your forever home or investment property. We make it possible to finance properties and homes in Mexico. Our job is to help with all the details to make this process as easy as possible. We answer the question; can I finance a house in Mexico? Are there home loans for foreigners? There are options for buyers and home loans for foreigners that are simple and secure. Let us help you make your dreams come true. Get in contact with us to see the amazing properties and houses for sale in Mexico we have.
