Mexico’s Premiere Residential Mortgage Broker
MEXLend is the leading residential mortgage broker in Mexico. Through partnerships with local real estate companies, U.S. and Mexican lenders, U.S. title/escrow companies and local Mexican closing attorneys and notarios, MEXLend is able to offer the broadest rage of U.S. dollar and Peso loan programs and options available anywhere. We have closed more loans, more successfully and more rapidly – on average – than any other broker currently operating in this developing Mexican industry, which is still a mystery to the beginner. We have been here since the Mexican government began allowing U.S. banks to write mortgages for U.S. citizen, using the Mexican property as sole collateral. One of our largest lenders conducts post-closing satisfaction surveys with all of its clients. This lender consistently reports that MEXLend receives the highest customer satisfaction ratings of any broker operating in Mexico and achieves the fastest closing times, on average, of any mortgage broker in Mexico.
Until less than two years ago, foreign nationals wishing to buy property in Mexico had to pay all cash. Now there are a half dozen or so U.S. banks or lenders who have received charters from the Mexican government to write residential mortgage loans in U.S. dollars for American citizens, using the Mexican property as the sole collateral. Through MEXLend, Mexican citizens or foreign nationals other than Americans who live, work and pay taxes in Mexico can also obtain Peso loans to secure their home purchase from one of the largest commercial banks in Mexico. The days of the all cash purchase are finally over.
MEXLend represents more lenders than any other broker, so we can find the best deal for you. Interest rates for these second home purchases start at about 7.5% and may be slightly over 10% in cases where there is higher risk on the part of the lender – along with numerous options in between. The interest rate is based on the borrower's credit history in his/her country of citizenship, the method required to document regular income, the borrower's assets/liabilities and other underwriting criteria. Underwriting for U.S. dollar loans is done in the U.S. Underwriting for Peso loans is done in Mexico. Most closing costs in Mexico are the same, whether you are paying cash or using a mortgage.
Selecting the best loan for any given customer requires a detailed knowledge of the client's needs, wants and personal financial situation. MEXLend’s mission is to do a thorough job of matching you to the loan program with which you will be the most happy.
Closing a Mexican real estate purchase is significantly more complicated than a U.S. real estate transaction, whether it is a cash deal or involves financing. This is due to the laws and the processes used in Mexico. MEXLend does not send it's loans to a home processing office back in the U.S. Doing so would, we feel, complicate communications with the numerous parties here in Mexico who will really determine the quality and the rapidity of the closing. MEXLend is the only mortgage broker in Mexico that processes all of its loans in its own offices where it is possible to keep an eye on who is doing what, when and why – each and every day of the 60 or so days it typically takes to close a Mexican purchase. All of our employees are full-time residents of Mexico.
MEXLend has helped scores of people buy the home of their dreams all over Mexico. In November 2006, MEXLend closed the largest U.S. dollar residential mortgage loan ever closed in the entire country of Mexico – a loan of over 2.5 million dollars. Early in 2007, MEXLend also closed the largest U.S. dollar residential cash-out refinance ever closed anywhere in Mexico – nearly 1 million dollars. Meanwhile, every day we are working with a large number of home buyers on their mortgage applications in the range of $100,000 USD to $650,000 USD. Regardless of the size of the purchase or of the loan, MEXLend can help you achieve your goal. Call today to learn more, to get pre-qualified before you begin shopping for your Mexican dream home or to ask any questions you might have.
© MEXLend, Ltd. (USA) and MEXLend, S. de R.L. de C.V. (Mexico)
