Puerto Vallarta, Mexico – Puerto Vallarta-based MEXLend, an industry-leading mortgage broker in Mexico, has closed the first IMI Group loan in Vallarta. With the partnership and expertise of Venegas Realty representing the buyers and Applegate Realty representing the seller, this marks the beginning of many more financing options to fund in Banderas Bay. Additional financial options in the market will make real estate in Banderas Bay more accessible to more potential buyers.
“Increasing loan products available to buyers is the goal of MEXLend and is key to providing ongoing superior service to our clients and the real estate community,” stated Terence Reilly, CEO and co-founder of MEXLend.
“The international mortgage market is on the rise. U.S. mortgage brokers who wish to tap into the globalization of real estate capital markets need look no further than our southern neighbor, Mexico. The Mexican mortgage and real estate market will be expanding rapidly after numerous changes to property-ownership laws. With more Americans now able to buy homes in Mexico, it has become a multibillion-dollar market,” added Tim Kelley, COO of the IMI Group.
Over 15,000 Americans and Canadians turn 55 each day. As aging Baby Boomers retire, their search begins for a place to retire or for a possible second home. Last year approximately 400,000 foreigners looked south to Mexico as an option.
As recently as three years ago, your options to purchase a home in Mexico were limited to paying cash or to mortgages with extremely high interest rates. Within the past year, many lending options have opened up to foreigners seeking a mortgage, but only one Mortgage Broker – MEXLend – has been singled out for customer service.
In recently announced results based upon post-closing client interviews conducted by Mexico’s largest US lender, MEXLend won the #1 mark of distinction for both client satisfaction and fastest closings for the second straight cycle.
Time and time again, MEXLend was praised for their attention to detail, ease of process and timeliness. Forging partnerships with banks, private lenders, title insurance agencies and attorneys has afforded MEXLend the unique ability to streamline the mortgage process in Mexico.
MEXLend is not limited to mortgages for Puerto Vallarta, as they can offer their award-winning services for purchasing property in any city, town or resort area throughout Mexico – in US Dollars, Pesos, and other denominations – to refinance a current loan or simply cash out on existing equity. For additional information, visit mexlend.com.