by 
Calculate your mortgage loan quickly and easily!
Are you looking for the best mortgage loan calculator to help you plan your home purchase? With our tool, you can easily calculate how much you can borrow and what your monthly payments will be. Our calculator is designed to help you make informed decisions when looking for a mortgage in Mexico , whether for a house, apartment, or land. Click and discover your financial possibilities in less than a minute!
Table of Contents
Online Mortgage Loan Simulator
With our online simulator, you can get a clear estimate of your creditworthiness. Enter information such as the amount you want to finance, the term, and the interest rate to find out your monthly payments. This simulator is designed for both Mexican residents and foreigners working in Mexico .
Are you a foreigner? We invite you to read our article on the best mortgage loans for foreigners in Mexico: See article
What is a Mortgage Loan in Mexico?
A mortgage loan is a loan granted by a financial institution to purchase a property. The main characteristic of this type of loan is that the acquired property serves as collateral. This means that if you default on your payments, the bank has the right to repossess the property.
- Properties you can purchase : Houses, apartments, land, offices, or commercial premises.
- Credit term : Varies between 5 and 30 years, depending on the financial institution.
- Interest rates : They can be fixed or variable.
Types of Mortgage Loans
Bank Mortgage Credit
- Offered by traditional banks.
- Down payment of 25% to 45%.
- Fixed interest rates throughout the loan term.
- Requires a minimum credit score of 500.
- Age between 18 and 64 years, with at least 6 months of seniority.
SOFOM Mortgage Credit
- Granted by Multiple Purpose Financial Companies.
- Finance up to 95% of the property value.
- Higher interest rate and Total Annual Cost (CAT) than bank loans.
- Allows co-financing with INFONAVIT or FOVISSSTE.
How to Get a Mortgage Loan?
Follow these steps to apply for your mortgage loan:
Meets the basic requirements :
- Official identification (INE or passport).
- Proof of income (pay stubs or tax returns).
- Be between 18 and 64 years of age.
- Minimum seniority of 6 months.
- Minimum of 500 credit bureau points.
Determine the required hook :
- Between 25% and 45% of the property value.
Submit your application :
- Includes all required documentation.
- Wait for the financial institution to evaluate your payment capacity.
Review the terms and conditions :
- Make sure you understand the interest rates and terms before signing.
Calculate your Mortgage Loan Now
By using our mortgage loan simulator , you can explore different financial scenarios and find the loan that best suits your needs. Whether you’re looking for a house for your family, land for investment, or an apartment to live in, our tool is designed to make your decision easier.
Please note that this mortgage loan simulator is designed exclusively for Mexican residents, as well as for foreigners working in Mexico.
Conclusion
Deciding to apply for a mortgage is an important step. Therefore, having a loan calculator will allow you to have a clear view of your possibilities and plan strategically. At Plalla, we are committed to providing you with the best tools and information to make your dream of owning your own home a reality. Ready to take the first step? Calculate your loan today!
You might be interested
Trust: How do I buy property in Mexico if I’m a foreigner?
Join The Discussion