Real Estate and Mortgages Articles
Questions to ask a Broker
Choosing a Mortgage Broker in Mexico is a lot like choosing a Realtor or Attorney anywhere else. A referral from a trusted source is almost always the best way to go, as the quality of service, attention to detail and processing times can vary quite a bit between firms.
Private Lending Sources
Yes indeed - there most certainly are private lenders available for real estate purchases in Puerto Vallarta, just as there are in the U.S., Canada and elsewhere. Some may be part of a legitimate consortium of investors; however, those are few and far between.
What are the advantages and disadvantages of refinancing in Mexico?
Refinancing is one of the most exciting new offerings from our US. investors lending in Mexico. Softel estimates that in 2006, only 10% of housing stock in Mexico has financing attached. That means that 90% of all condominiums and homes are owned free and clear.
What Type of Loans are Available?
With more US banks and lenders lining up to enter the Mexico market, the breadth and scope of loan programs is becoming very interesting and diverse. For general purposes, the loans available fall into one of the five following categories: Purchase, Refinance, Home Construction, Peso Loans and Commercial.
How Does the Loan Process Differ?
Not as much as you would think, primarily with governmental involvement, closing times and costs. With a US dollar loan, many aspects of the loan process in Mexico are strikingly similar to those in the United States.
What is a Trust and why is it needed?
For historical reasons, the Mexican Constitution forbade foreigners from buying property in designated restricted zones. These zones are comprised of areas near the Mexican border and areas near the coast.
Incorporation and Citizenship
What are the advantages and disadvantages of incorporation & citizenship?
