HomeFAQs Is there financing for foreigners in Mexico?
Is there financing for foreigners in Mexico?
Friday, 09 June 2006
The answer is YES for USA citizens. There are some limitations though; you can get financing on resale, but not on presales of condos, construction etc. There are several American and Mexican companies providing this service. Contact them for more detailed information on the limitations. As we understand it financing for Canadians is not doable yet, but it is coming. Check with your agent for names of companies that provide this service. We will provide more information on this subject as it becomes available.
NOTE : Unlike loans in the United States, closing real estate and lending transactions in Mexico are more complicated and time consuming. Mexico transactions can be significantly delayed, and even cancelled by the seller, with even the slightest of documentation errors. It is important to seek representation by a mortgage broker that is reputable and has successfully overseen, processed and closed transactions in Mexico. The best advice is to ask for references on the broker, to ensure they have a significant number of Mexico transactions closed and will successfully represent you in the transaction.