Unlock Your Dream Home: Mortgage for Foreigners in Mexico

Mortgage lending opportunities for foreigners are increasing, offering options for building from scratch or acquiring property. The process involves applying for a special permit from the General Directorate of Legal Affairs of the Ministry of Foreign Affairs (SRE) , completing an application with immigration information and details of the desired property. Although there are restricted zones, such as the 100 km border zone and the 50 km border zone along the beaches, these can be circumvented through a trust . Mortgage loans for foreigners in Mexico represent an affordable option with a resident visa and appropriate financial conditions.

 

That’s why, in this article, we’ll explore the different options available to foreigners looking to apply for a mortgage in Mexico. We’ll analyze specialized companies such as Moxi, MortgageHub, HIR Casas, Tu Casa Express, SOC CAF, Creditaria, Kredi, and Creditaria , and we’ll analyze the features, requirements, and processes involved in each of these options. If you’re considering buying a property in Mexico, this guide will provide you with the information you need to make an informed decision and make the most of the opportunities available in the Mexican mortgage market.

 

 

How Does a Mortgage Loan Work in Mexico for Foreigners?

 

A mortgage loan in Mexico for foreigners is a financial option designed for non-Mexican citizens who wish to purchase property in the country. This type of loan allows them to finance a percentage of the value of a house, apartment, or land, with the option of paying it in monthly installments over a set period.

 

Basics:

 

• Mortgage loans typically cover between 70% and 90% of the property’s value.
• The repayment term varies between 5 and 30 years, depending on the bank or financial institution.
• Interest is calculated based on the amount borrowed, the term, and the interest rate set by the bank.
• Payments can be made in Mexican pesos or dollars, depending on the financial institution.

 

Who can access this type of credit?

 

Any foreigner, whether resident in Mexico or not, can apply for a mortgage loan, provided they meet the requirements established by the financial institution. This includes:

 

• Citizens of the United States, Canada, or other countries interested in purchasing vacation, investment, or retirement properties.
• Temporary or permanent residents in Mexico with verifiable income.
• Mexicans living abroad interested in purchasing property in their home country.

 

 

Mortgage loans in Mexico protect your family

 

One of the great benefits of purchasing a property in Mexico through a mortgage loan is that, by law, these loans include integrated insurance that protects both the owner and their family:

 

• Life insurance: In the event of the death of the policyholder, the insurance covers the outstanding balance of the loan, freeing the heirs from any debt.

 

• Unemployment insurance: Temporarily covers monthly payments if the borrower loses their job involuntarily.

 

• Property damage insurance: protects property against risks such as fire, flood, or natural phenomena.

 

In countries like the United States and Canada, this type of insurance isn’t always included, and many families inherit the mortgage debt if the owner dies. In Mexico, however, this insurance provides a safety net that allows loved ones to inherit the property fully paid off in a difficult situation.

 

This legal and financial protection makes mortgage lending in Mexico a solid, responsible, and family-oriented alternative.

 

 

General Requirements for Obtaining a Mortgage Loan in Mexico

 

For foreigners to qualify for a mortgage loan in Mexico, it is essential to meet the requirements established by banks or financial institutions. These requirements are designed to ensure that the applicant has the financial capacity and solvency to cover the loan.

 

Documents required for foreigners:

 

1. Official identification: Valid passport.
2. Proof of income: Tax returns, pay stubs, or bank statements that demonstrate financial solvency.
3. Proof of address: Recent utility bills or bank statements.
4. Immigration permit: In some cases, institutions require temporary or permanent residence in Mexico.
5. Credit history: A credit report issued by your home country’s financial institution or recognized credit bureaus.

 

What documents are required if you live in the United States or Canada?

 

1. International Identification: Valid passport.
2. Proof of income: W-2, tax returns, or bank statements that reflect stable income.
3. Foreign credit history: Credit report issued by institutions such as Experian, Equifax, or TransUnion.
4. Immigration permit (optional): If you plan to reside in Mexico, some banks may require a temporary or permanent residence visa.
5. International bank account: You may need to open an account in Mexico to make loan payments.

 

With these requirements, financial institutions seek to ensure that the applicant meets the necessary conditions for granting the loan, ensuring a transparent and secure process. If you are a foreigner interested in investing in Mexico, researching the options and complying with these documents will be key to acquiring the property of your dreams.

 

 

The Best Mortgage Loans for Foreigners

 

Moxi

 

Moxi is a leading option for U.S. citizens seeking mortgage financing in Mexico. They offer terms and conditions similar to traditional mortgage loans in the United States, with terms of up to 30 years and competitive interest rates, typically between 5% and 7%.

 

Important Details

 

• Loan amounts: Moxi offers the opportunity to obtain up to two and a half million dollars, with a minimum of $250,000 MXN.
• Qualification requirements: A minimum FITOS score of 700 points and a maximum LCB of 65% are required, which implies a 35% down payment.
• Flexible terms: Loan terms can be 15, 20, 25 years, or even longer than 30 years.

 

Steps to apply for a loan with Moxi

 

1. Initial Application: Interested customers must complete an initial application, providing relevant personal and financial information.
2. Eligibility Assessment: Moxi conducts a comprehensive assessment of applicant eligibility, including verification of credit history, income, and ability to pay.
3. Property Selection: Once the application is approved, the client must select a property that meets Moxi’s eligibility criteria and is within their financing range.
4. Closing Process: With the property selected, the client and Moxi proceed with the closing process, which involves signing legal and financial documents related to the mortgage.
5. Payments begin: Once the closing process is complete, the client begins making monthly mortgage payments according to the terms agreed upon with Moxi.

 

It’s important to note that the closing process with Moxi can be fast, with turnaround times as short as 15 days, providing a streamlined and efficient experience for mortgage loan applicants.

 

 

MortgageHub

 

MortgageHub is the leading mortgage loan company in Mexico, with a vast network of more than 400 franchisees. We specialize in financing purchases in Mexico for foreigners, especially U.S. and Canadian citizens.

 

Important details

 

They offer terms of up to 30 years and finance up to 80% of the property’s value. They are notable for their flexibility, allowing tourists and non-residents to purchase and rent properties remotely.

 

Financial conditions

 

Interest rates are around 9%, with fixed payment options and flexible terms of 10 to 30 years. A minimum credit score of 689 and an optimal score of 725 are required. Although the process is not automatic, approval is available for a variety of profiles, regardless of immigration status.

 

Process for applying for a loan with MortgageHub

 

After approval, you have 5 to 7 months to use the loan. They offer down payment options of 20% to 25%, with a variant called “Platinum Mortgage,” designed for clients with a solid credit history and proof of income. This loan is ideal for those who already have a property in mind and want to close the transaction within a quick 30-day period.

 

 

HIR Houses

 

HIR Casa is a Mexican company with a 60-year history in the real estate sector. It stands out for offering a wide range of services and personalized support throughout all stages of property acquisition.

 

Important details

 

They offer flexible plans ranging from the purchase of a new or used house or apartment to the purchase of land, construction, remodeling, and commercial or office space. Their expert advice guarantees a simple, fast, and easy process for clients.

 

Achievements and regulation

 

With more than $29 billion pesos allocated for the purchase of properties in Mexico, HIR Casa stands out as a reliable and solid company in the market. It is regulated and authorized by the Ministry of Economy, with contracts endorsed by PROFECO.

 

Presence and finances

 

With 29 branches throughout Mexico, HIR Casa has extensive national coverage. In 2019, they issued trust certificates worth $1 billion pesos on the Mexican Stock Exchange, demonstrating their financial strength.

 

Customer profiles and requirements

 

Client Profile A

 

This profile corresponds to individuals who are not affiliated with social security systems and have difficulty proving their income. Their primary source of income is usually cash, and they cannot provide bank statements or pay stubs.

 

• Requirements: Clients may or may not have a credit history. Personalized attention is required, which is conducted through a socioeconomic assessment performed by a specialized consultancy. This assessment involves two visits: one to the client’s business and another to their home address. The cost is $1,400.00 MXN plus VAT.
• Process: Once the study is complete, the evaluation is carried out, which typically takes approximately 5 calendar days. The maximum loan amount is $5,000,000.00 MXN. In addition to the socioeconomic analysis, official identification and an up-to-date credit report are required.

 

Client Profile B

 

This profile is aimed at clients who have bank accounts and can provide statements. They are typically entrepreneurs, small business owners, or freelancers who don’t have bank statements or stamped pay stubs. Although they receive cash income, they aren’t fully banked.

 

• Requirements: To qualify, you must have six consecutive months of bank statements, along with official identification and an updated credit report.
• Maximum amount: The maximum amount to be contracted is $7,500,000.00 MXN.

 

Client Profile C

 

This profile is aimed at clients who can demonstrate reliable income and are fully banked, in addition to being registered with the SAT (Tax Administration Service). They can prove their income through tax returns or payroll.

 

Requirements

 

• If the client uses tax returns only, the last three months of partial tax returns and the most recent annual tax return are required. It’s important to note that in these cases, the income considered is the profit earned during the tax return period.
• If the client verifies via payroll, the last 3 months of stamped pay stubs are required.
• In addition to documents proving income, you must present an official ID and an updated credit report.
• The maximum financing amount will depend on the client’s financial situation.
• If the client has leases, these can be added to their payment capacity. To do this, the client must present the lease agreement and the deed to the property.

 

Legal Entity Profile

 

This profile is designed for companies or legal entities seeking financing. A series of documents and requirements are required to assess the feasibility of the loan.

 

Requirements

 

• Prospectus questionnaire for legal entities
• Financial statements of the last partial internal closure, in full
• Copy of the company’s latest annual tax return
• Company resume and/or website
• Report from the Special Bureau of the requesting company
• Application for registration at HIR Casa, duly completed and signed by the legal representative
• Letter of justification of financing (project), signed by the legal representative
• Copy of the company’s articles of incorporation
• Copy of the notarization of the minutes of the annual shareholders’ meeting
• Power of attorney of the company’s legal representative
• Company’s tax identification card filed with the Tax Administration Service (SAT)
• Compliance opinion letter to the Tax Administration Service (SAT)

 

Profile for Foreigners

 

This profile is designed for foreigners seeking financing in Mexico for property acquisition. A series of documents and requirements are required to assess the applicant’s eligibility.

 

Requirements

 

• Good credit score
• Complete credit bureau, showing monthly payment history
• Account statements for the last 6 months
• Tax return for the immediately preceding year
• Last 3 months of pay stubs

 

Everyone must submit their registration application, official identification, and updated credit report, regardless of their income verification method.

 

It’s important to know that transfers between accounts and investment payments are not considered income.

 

A legal entity cannot prove the income of a natural person, except for dividends.

 

Canadian Americans: Clients looking to purchase property in Mexico. No credit history in Mexico is required. Permanent residency is not required.

 

 

 

Your Express House

 

Tu Casa Express is a financial institution that has supported Mexican and foreign families for over 24 years in acquiring and growing their assets. Backed by the Ministry of Economy and PROFECO, it is committed to offering affordable and reliable financing solutions.

 

Important details

 

• Minimum loan amount: $56,000 USD
• Minimum property value: $80,000 USD
• Maximum LTV: 70% of the purchase value
• Single term: 15 years
• Early payment penalty: 0%
• Formalization through a trust

 

What can the Credit be used for?

 

• House (apartments)
• Land + construction for foreigners
• Commercial premises
• Land
• Wineries
• Offices
• Buildings
• Extensions and renovations

 

What are the policies?

 

• Available for urban properties with services
• Property value from $1M to $10M
• Plans for foreigners: 70% LTV
• Plans for Mexicans: 80% LTV
• Possibility of contracting with multiple owners and buyers
• No penalty for capital payments

 

What are the requirements?

 

• Minimum age: 18 years
• Maximum hiring age: 59 years, 11 months
• Seniority: not required
• Proof of tax status: not required
• Good credit history: not required
• Welcome to the informal economy
• Annual tax return: not required
• Available for employees or self-employed workers

 

What are the financing plans?

 

1. Premium

• Advance payment: 20%
• Term: 4 monthly installments
• Amount: $1,500,000 to $5,000,000 mxn
• Natural person

 

2. Optimal+

• Advance payment: 30%
• Term: 3 monthly installments
• Amount: $1,000,000 to $10,000,000 mxn
• Natural person

 

3. Elite

• Advance payment: 40%
• Term: 2 monthly installments
• Amount: $2,000,000 to $10,000,000 mxn
• Natural/legal person

 

What are the hiring processes?

 

1. Pay down payment
2. Pay opening commission (2% + VAT)
3. Pay the first monthly payment
4. Pay the second monthly payment
5. Pay the third monthly payment
6. Credit authorization, appraisal, escrow and closing

 

 

SOC CAF

 

SOC CAF is a mortgage financing option that offers competitive rates and flexible terms for Mexican and foreign citizens, including those from the United States and Canada who do not reside in Mexico. SOC CAF also offers mortgage financing to government employees and retirees. They offer a variety of mortgage products, including fixed-rate mortgages, variable-rate mortgages, and jumbo mortgages.

 

Important details

 

• Minimum Amount: From $500,000 MXN in Mexico City, $2,250,000 MXN in the rest of the Republic.
• Minimum Housing Value: $1,250,000 MXN.
• Maximum Capacity: 80%.
• Annual Interest Rate: From 10.60% – 10.80%.
• Term: Up to 30 years.
• Opening Commission: 2.00%.
• Life Insurance: $1 per thousand.
• Damage Insurance: $0.4 per thousand.
• Administration Commission: $499 MXN + VAT per month.
• Mortgage Guarantee with Ages: 18 to 64 years (74 years and 11 months).
• Acquisition of Housing for Foreigners: Residential or mixed land use (less than 20% of the total construction).

 

Foreigner Profile (United States and Canada)

 

• Foreigners regardless of immigration status (including tourists).
• Does not accept foreign retirees.
• BC Score Salaried and Independent: 689-724 725+ (Committee – No Committee).
• Proof of income and a FICO score are required.

 

 

CREDITARY

 

CREDITARIA is a financial institution that offers mortgage financing to foreigners in Mexico. They offer a variety of mortgage products, including fixed-rate mortgages, adjustable-rate mortgages, and interest-only mortgages. CREDITARIA is a good option for foreigners looking for a mortgage in Mexico.

 

What are the requirements?

 

Requirements vary by bank, but the following are generally considered:

 

• Good credit history.
• Be over 25 years old.
• Have verifiable income, either as an employee or self-employed.
• Demonstrate ability to pay.
• At least 1 year of seniority for employees and 2 years for self-employed workers.

 

Foreigners in Mexico

 

Foreigners with temporary or permanent residence in Mexico, as well as credit history and income in the United States, can apply for a mortgage loan. The necessary documents include:

 

• FM2 or FM3 migration format.
• Valid passport.
• Good credit history in your country of origin and in Mexico.

 

Co-financing with FOVISSSTE or Infonavit

 

If a foreigner is contributing to FOVISSSTE or Infonavit, they can co-finance their mortgage loan in Mexico, as long as they meet the established requirements.

 

Income Proof

 

Customers can check their income in the following ways

• Only with US documentation.
• Documentation from the United States (as a salaried employee) plus documentation from Mexico (as a salaried employee or independent).

 

In conclusion, it is a company that collaborates with Business Partners to find the best mortgage loan that fits the needs of each client.

 

 

Credit

 

Kredi is recognized as one of the 100 fastest-growing Mexican startups, according to Forbes Mexico. It offers mortgage loans supervised by the National Banking and Securities Commission (CNB), registered with SIPRES (Spanish Securities and Exchange Commission) to guarantee user protection against potential irregularities, thus supporting the financial security of its clients under the supervision of Condusef (National Commission for the Protection of Personal Data).

 

Main Features

 

• Credit Score Access: Loans are available to individuals with a credit score of 610 or higher.
• Flexible Terms: Offers payment terms of up to 30 years for greater customer convenience.
• Generous Financing: Loans can cover up to 90% of the value of the desired property, making real estate acquisition easier.
• Competitive Interest Rate: The fixed annual interest rate starts at 10.45%, offering favorable conditions compared to other options on the market.
• Agile and Remote Process: It stands out for its 100% online application process, with personalized simulation in seconds and rapid pre-approval, which speeds up access to financing.
• Customer Focus: We have a dedicated customer support team that prioritizes the user experience and provides personalized assistance at all times.
• Income Proof Requirements: Various documents are accepted for income proof, such as pay stubs, bank statements, or annual returns, making the process easier for different applicant profiles.
• Documentation for Independent Businesses: For independent businesses, a Certificate of Tax Status and at least 18 months of activity are required, ensuring the applicant’s financial stability.
• Limitations on Credit Use: Credit is not offered for land purchases or renovations, focusing primarily on residential property acquisitions.

 

How is interest calculated?

 

Interest is calculated based on the associated risk level and the credit percentage relative to the property’s value, ensuring fair and transparent conditions for customers.

 

In conclusion, Kredi is a fintech company that offers online mortgages in Mexico. They are known for their flexible eligibility requirements and low down payment options. Kredi mortgages are a good option for borrowers with less-than-perfect credit scores or who cannot afford a large down payment.

 

 

Compare the best mortgage loan options for foreigners in Mexico.

 

 

At Plalla Real Estate , we specialize in facilitating the mortgage loan process for foreigners wishing to purchase a home or apartment in Mexico. Our expert team is here to advise and support you every step of the way. From the initial consultation to loan approval, we’ll handle all the paperwork so you can become a homeowner.

 

Contact us today and make your dream of owning a property in Mexico a reality!

 

 

The Best Mortgage Loan Simulator for Foreigners in Mexico

 

When it comes to financing a property in Mexico as a foreigner, having the right tools and knowledge can make all the difference. Our leading mortgage loan calculator allows you to quickly and efficiently calculate your financing options, especially if you’re interested in co-financing with Infonavit or FOVISSSTE , two of the most affordable housing programs in Mexico.

 

How Does Co-financing Work for Foreigners?

 

Co-financing combines private mortgage loans with benefits offered by Infonavit or FOVISSSTE . Although primarily designed for Mexican citizens, foreigners residing in Mexico can explore specific options to access these programs. Combining loans can significantly reduce interest rates and improve overall loan terms.

 

Advantages of Combining Mortgage Loans

 

• Lower interest rates: Combining private loans with government benefits often results in more favorable financial terms.
• Higher loan amounts: You can access more funds by combining the benefits of multiple institutions.
• Flexible payment terms: Co-financing offers extended payment periods that fit your financial capabilities.

 

Mortgage Loan Simulators for Foreigners

 

Using a mortgage loan simulator is key to estimating the terms of your loan and understanding how much you can finance.

• Main tools available: There are online simulators designed specifically for foreigners who want to invest in real estate in Mexico. These tools calculate the loan amount, interest rates, and repayment terms based on your financial situation and residency status.
• How to calculate: Simply enter your monthly income, desired loan amount, and property value to get a clear projection of your monthly payments and interest rate.

 

Discover the best options now by visiting our Mortgage Loan Simulator for Foreigners and take the first step toward acquiring your dream property in Mexico.

 

👉 Try the Simulator Here

 

 

How to choose the best mortgage loan in Mexico as a foreigner?

 

Buying a property in Mexico as a foreigner can be an exciting experience, but it also involves several important financial considerations, especially when choosing the right mortgage. Here are some tips and recommendations to help you make the best decision:

 

• Research your available options: Before committing to a mortgage, take the time to research and compare the different options available on the market. Examine the interest rates, repayment terms, eligibility requirements, and any other relevant features of each mortgage product.
• Compare interest rates: The interest rate is a crucial factor that will affect the total cost of your mortgage loan. Compare rates offered by different financial institutions and choose the one that offers the most favorable and competitive terms.
• Consider repayment terms: Carefully evaluate the repayment terms available for each mortgage loan. While longer terms may mean lower monthly payments, they also mean paying more interest over time. Find a balance between comfortable terms and reasonable total costs.
• Review eligibility requirements: Make sure you meet all eligibility requirements established by the financial institution. This may include having a good credit history, verifiable income, and meeting certain age and residency criteria.
• Consult with a financial advisor: If you have concerns or questions about the different mortgage products available, consider consulting with a financial advisor. They can provide personalized guidance and help you make an informed decision that fits your unique financial situation.

 

 

Conclusion

 

With so many mortgage loan options in Mexico, it can be overwhelming to choose the best one for you. Companies like Moxi, MortgageHub, HIR Casa, SOC CAF, Creditaria, and Kredi offer a variety of solutions tailored to different customer profiles, including foreigners residing in Mexico. Each seeks to facilitate access to homeownership with flexible terms, competitive rates, and streamlined processes. But which option is right for you? Consider aspects such as loan term, income verification requirements, and customer service when making your decision.

 

In short, whatever your financial situation or specific needs, there’s a mortgage loan option in Mexico that suits you. Explore the different options, compare the terms, and choose the one that best suits your goals and capabilities, taking the first step toward achieving your dream of owning your own home.

 

Feel free to share your experience and comment on what your biggest challenge has been when looking for a mortgage loan in Mexico.

 

 

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