Thomas L. Lloyd, mazatlan Broker By Thomas L. Lloyd

While most buyers are aware that there are very affordable Playa del Carmen condos available, what many buyers are not aware of is that there is the option to buy these same condos through a mortgage in Mexico.   The following are some of the benefits to buying through a mortgage in Playa del Carmen.

  • Prices are already low – Prices for nice condos in Playa del Carmen are already low.  For example, new gated communities in the Xcalacoco beach area just north of town offer very nice units for low prices since the developments are still “taking shape.”  This is just one example.  In general, prices for nice units just a few blocks from the beach are surprisingly low for anyone familiar with usual beachfront pricing.  One advantage of Playa del Carmen is that properties even a little back from the beach have easy walking access.


  • You can begin life by the beach immediately – If you buy in Playa del Carmen through a mortgage, you can begin your life on the beach just with a 30% down payment.  While there are good pre-construction options in the same areas (Xcalacoco, downtown, resorts like Bahia Principe) these require waiting for the complex to be completed; while this wait is definitely not the worst thing in the world, for those who want to enjoy a property more immediately while still only starting with a minimal payment will find a mortgage convenient.


  • You have a wide variety of choices – Low-priced condos that qualify for mortgages come in many locations and styles.  Some examples are the small complexes in gated communities near Xcalacoco, gentrifying communities downtown and the upscale gated golf course community of Playacar (a walk or bike ride away from downtown).  Both new and resale properties can be considered.

Some points to remember:

  • Longer Processing Times – Mortgages in Mexico include longer processing times, usually around 3 months.  It’s important to take this time into account.


  • Slightly Higher Interest – Interest rates tend to be slightly higher in Mexico than in Canada or the U.S.


  • Minimum Sale – While there are condos for all prices and budgets, mortgages will only be available for those which cost $100,000 USD or more.  On the other hand, it’s incredible what you can get for this price …
  • Condominium Regime – If you are considering a mortgage for a new unit, the condominium regime must be in place for a unit can be bought through a mortgage.  The good news is that new options are beginning to appear from one bank in Playa del Carmen (Scotiabank) that coordinate pre-construction sales with mortgage options.

When you begin your condo search in Playa del Carmen, ask your agent about the possibility of a mortgage; it could be your key to enjoying life on the beach, soon … that you can afford!; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely

Mexico Real Estate NETWORK; "Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"


Region:  Mazatlan real estate Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546.

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