{"id":4314,"date":"2016-06-09T17:17:41","date_gmt":"2016-06-09T22:17:41","guid":{"rendered":"https:\/\/www.topmexicorealestate.com\/lets-retire-in-mexico\/?p=4314"},"modified":"2016-07-07T03:52:29","modified_gmt":"2016-07-07T08:52:29","slug":"financing-options-for-buying-property-in-mexico","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/lets-retire-in-mexico\/2016\/06\/financing-options-for-buying-property-in-mexico\/","title":{"rendered":"Financing Options for Buying Property in Mexico"},"content":{"rendered":"

\"<\/a><\/p>\n

So, you\u00b4ve decided to purchase a home in Mexico and are considering financing options. Luckily for you as a\u00a0foreigner you have some\u00a0options available to you, so today I\u00b4d like to present some\u00a0information for you as a potential buyer that will aid you in the process.<\/p>\n

\n

Do you already own\u00a0an existing property in your \u00a0home country? Then one option is to\u00a0leverage a mortgage<\/strong> against your house or condo with your banking institution and use the funds to make a cash purchase in Mexico. \u00a0Speak to a representative from your\u00a0banking institution in the U.S. or Canada and find out how much you qualify for.<\/p>\n

Read :\u00a0Mexico is a Safe Place to Invest Says Forbes Magazine<\/a><\/p>\n

You can also try to get a mortgage from a Mexican Institution<\/strong>. This will take much longer and involve more paperwork.\u00a0As a resut of\u00a0NAFTA foreigners are now able to get\u00a0mortgages. However, you will need a\u00a0high credit score, a low buyer\u2019s debt-to-income ratio, and you must pay a\u00a0small tax on your\u00a0bank mortgage.<\/p>\n

Another method is to get a \u201cBank Trust in Guarantee<\/strong>.\u201d This document will contain details about the payment terms to guarantee that the seller will receive their\u00a0payments on time, and that you\u00a0will have legal and physical possession of the property while payments are being made. It is\u00a0is a legal document that names the buyer (you) as the beneficiary of the property you want to purchase. The seller would be as the secondary beneficiary.<\/p>\n

Finally, you can look at getting Credit Pre-Approval.\u00a0<\/strong>Once a pre-approval certificate is given, you\u00a0will know exactly which property price range you\u00a0can search for, even if a buyer is looking for seller-financing.<\/p>\n

As you can see there is more than one way to accomplish your goal of buying a home in Mexico. Although different that in the U.S. or Canada, the examples above should help get you started.<\/p>\n

Now if you want to learn more about property in the Riviera Maya\u00a0or any of the TOP MEXICO REAL ESTATE properties we have listed anywhere throughout Mexico, please feel free to contact any of our Top Mexico Buyer\u2019s Representatives and we will be glad to help you find your very own piece of paradise.<\/em><\/p>\n

And remember, here at Top Mexico Real Estate\u2026<\/p>\n

We make it happen!<\/i><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

So, you´ve decided to purchase a home in Mexico and are considering financing options. Luckily for you as a foreigner you have some options available to you, so today I´d like to present some information for you as a potential buyer that will … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-4314","post","type-post","status-publish","format-standard","hentry","category-living-in-mexico"],"yoast_head":"\nFinancing Options for Buying Property in Mexico<\/title>\n<meta name=\"description\" content=\"So, you\u00b4ve decided to purchase a home in Mexico and are considering financing options. 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