Conventional mortgage in Mexico for international buyers
The digitally-processed mortgage loan with greater flexibility, speed, and simplicity in Mexico.
Mortgage
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Rates from 10.60% to 11.18%, based on term and capacity, not on risk level.
Credit score:
- No commitee: 725+
- With commitee: 689+
Jumbo loans for salaried employees up to 90% of capacity.
No account opening is required for direct debit.
Must be resident in Mexico with income from abroad.
Product
Characteristics
- Minimum from $500,000 Mexican Pesos
- Minimum home value: $1,250,000 Mexican Pesos
- LTV 85% for employees and 65% for self-employed
- Amortization up to 30 years
- Opening fee of 2%
- Life insurance: 1.0% per thousand
- Property insurance: $0.4 per thousand
- Administration fee: $399 + taxes per month
Flexibility
No medical study is required
No medical study is required
The co-borrower does not need to be related to the borrower
The property can be in restricted areas, with purchase through a trust (fideicomiso)
Characteristics of the Property
Located in consolidated urban areas
Residential or mixed land use (when it does not exceed 20% of the total construction)
Remaining useful life of at least 1.5 times the credit term as determined by an appraiser.
Interest Rates
Documents needed
Foreign salaried employee
- 18 months on the job (max. 6 months labor gap)
- Account statements showing deposits (last 3 months) + proof of employment
- Home country credit bureau with score and account details
- Permanent, temporary, or multiple migratory status
Foreign independent employee
- The last 3 months account statements
- The last 2 complete annual tax returns
- Home country credit bureau with account details