Q: As a Seller, my realtor is pressuring me to offer owner financing. Why should I do this if there are mortgages available? Stan H., Seattle, WA A: In recognition of a soft market, some realtors are recommending owner financing as an option for a quicker sale. While it makes sense for some sellers, there [...]
Q: What is a Good Faith Estimate and what should be included? Patty M, Los Angeles, CA A: All reputable mortgage brokers should be willing to give their clients a Good Faith Estimate or GFE outlining the costs associated with financing a real estate transaction. In the US, Truth In Lending Laws mandate a GFE [...]
Q. “How secure is my property if I purchase in Mexico?” Chris M. – San Francisco, CA. A. Very secure. In the “restricted zones” along the coast or near the border, foreign buyers are required to place the property in a Trust (Fiedecomiso) with a Mexican bank. The buyer is the beneficiary of the Trust [...]
Q: “What is the difference between a Mortgage Broker and a Mortgage Banker?” James G., Springdale, AR. A: The Primary Mortgage Market is made up of a variety of players involved in the lending of money to the actual consumer. These players include the Borrower, Mortgage Broker, Mortgage Banker and the Banks who do the [...]
Q: “How can I determine what loan for Mexico that I can afford?” Christine H., Denver, CO. A: Determining how much of a loan you can handle is relatively easy. You can go online to our website and fill out the pre-qualification form; we’ll work the numbers and provide you with an estimate of costs and what [...]
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 [...]
Vallarta-based MEXLend, in partnership with GE Capital and PV Realty, have closed a record-breaking loan on the famed lower Conchas Chinas home, Casa Carol Ann, which at one time was home to the Wilson Family (of Wilson Tennis) and once a getaway for President Nixon. “Closing a loan of this magnitude smoothly and on time, [...]
