Baja Homes for Sale is committed to assisting you in all areas of your property purchase.
With the arrival of title insurance in Mexico, finance has not been far behind. It is a good idea to know what you will need for a deposit and what kind of finance you can obtain before you start looking for property.
There are several options:
- Developer finance- This has been very helpful to many buyers as it generally requires no qualifying. The developer will finance between 50% and 80% with interest rates being a bit higher than U.S. buyers are used to (sometimes as high as 12%). The developer may allow as much as a year to complete the down payment and then finance the remainder of the home loan.
- U.S. loan – This is now possible and how much finance you can obtain depends on the development as well as your own credit history. Since many developers will require as much as 50% deposit, finance will allow you to take money back at the completion of the development. Rates as low as 7.9% are available but be sure to check the “extras” in the fine print.
- Home Equity loan is probably still the most popular method of financing your Mexican home. Interest rates are lower and the time to process the loan is much shorter.
Baja Homes for Sale recommends Finance North America if you’ve been thinking about purchasing real estate in Mexico, or need assistance with refinancing, we are here to help make your dream a reality. Finance North America Inc. specializes in providing mortgage financing to U.S. and Canadian citizens on real estate transactions in Mexico.
Finance North America is proud to be the leader for lending in Mexico to US citizens. Mortgages in Mexico are our specialty; we can help you with all your Mexico real estate financing needs.
FNA LOAN PROGRAMS
We have a variety of options for financing real estate in Mexico. We offer purchase, refinance and construction loans throughout Mexico with no geographic restrictions. Mexico mortgage loan programs include 30 year terms and as little as 10% down. We also have a Private Mortgage Banking division that specializes in loans for Mexico real estate with loan amounts over one million dollars.
FNA EXPERIENCE
In recognition for our expertise in the Mexico mortgage business, we have been repeatedly awarded for successfully closing the most financing transactions in 2005 and 2006 for US citizens buying real estate in Mexico.
FNA EXPERTISE
Home loans in Mexico are much more complex than mortgage transactions in the United States. Mortgage loans in Mexico for US citizens is a relatively new business arena and many newcomers entered into the industry during the first half of 2006 wanting to provide financing in Mexico. Safeguard your time and money by working with the mortgage broker that has a track record of successfully completing a variety of lending transactions in Mexico.
FNA INNOVATION
Our founders assisted GE Money in designing its current Mexico loan program and are currently pioneering additional financing products with additional investors. We pride ourselves with being on the cutting edge of new loan products and being innovators for the lending market on Mexico real estate, and are always striving to work with a variety of investors to bring borrowers the best financing options available.
FNA KNOWLEDGE
Experience creates knowledge. FNA is the most experienced lender providing Mexico home loans to US citizens, and successfully closed more transactions in 2005 and 2006 than any other lender assisting US citizens purchase in Mexico.
As the leaders in the field, Finance North America is able to assist you with all your Mexico financing needs.
So let’s get started with this simple application process and please contact us with any questions you may have. We look forward to working with you. |