Mexico Real Estate News & Blog - Mortgage
Mortgage

Recent changes to Mexican law have made it easier than ever for foreigners to obtain a mortgage and to own Mexico real estate. Today the buyer, not the bank, is permitted to own and hold the deed for a property, including land that is located along the coastline, which previously restricted foreign ownership. In addition, the resources to finance a property in Mexico are readily available, especially if bank statements prove that the buyer has an acceptable financial situation. As a result, it is no longer necessary to be a Mexican citizen to obtain a bank loan, and the required terms of ownership can also help the buyer obtain a working visa, or FM3 (non-migrant visa).

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The supply of mortgage loans in Mexico has diversified in a big way during recent years, thanks in part to structural improvements, a more competitive environment, low interest rates, the recovery of the commercial real estate sector and the growth of new housing needs, according to a Fitch...more

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