US-style
mortgages are now readily available for foreign buyers
in Mexico. Not
until recently have American lenders been involved
in the Mexican financing market and with their anticipated
arrival has come an explosion of opportunity. Resort
Real Estate Services was incorporated with the intention
of maximizing this economic movement in order to allow
you, the consumer, the ability to enjoy a lifestyle
found only south of the border. Previously, American
banks were reluctant to provide financing on Mexican
properties due to the foreign investors' inability
to obtain real estate title within 50 kilometers of
Mexico's coastline. To remedy this limitation the
Mexican Government now allows foreigners to
own land on or near the coast via a bank trust called
a “Fideicomiso.”
Financing
in Mexico shares the same advantages of financing in
the US and by utilizing these advantages you
increase the earning power of your money. Using
a loan leaves cash available for other investments and
it is likely that the interest paid on your loan will
be tax deductable in the US.
US-based
financing benefits foreigners who are planning to buy
property in Mexico as well as those who already own
property. With rates starting at 8%, down payments
around 20% and terms between 20-30 years; financing
in Mexico is now easily accessible.
Whether you
are building or purchasing a second home, investment
property, or retirement home, US financing will help
protect your investment. By binding yourself to an established
financial institution you will receive the experience
and the comfort of knowing your transaction will be
handled professionally and your title will be transferred
correctly. With loans being secured using your Mexican
real estate as collateral, not your US property,
the lending institution is not allowed to foreclose
on secured property in the US in case of default in
Mexico. US-style mortgages can make your dream
of owning property in Mexico a reality.
