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Mexico Mortgages; an Upward Trend for Investing in Real Estate South of the Border

Mexico mortgages are becoming more popular as an option for non-Mexicans to buy their property south of the border.  TopMexicoRealEstate.com/blog, a popular blog site helping new buyers to safely acquire real estate in Mexico, is now guiding people to learn more on the financial options available through programs offered by multi-national companies such as Stewart Title.

 

With years of experience down in Mexico in ensuring safe real estate transactions through their services such as title insurance, escrow services and closing coordination activities, the Stewart Title group has now opted to include a strategically complimentary product being that of Mexico mortgages.  "Loans obtained by Americans, Canadians, and Europeans have represented less than 10% of the purchases for second homes in Mexico. If you include to this scenario the current U.S. credit crisis, the access to financed capital has reduced substantially across the board" states

Ivan Castillo regional manager of Stewart Title of the Yucatan Peninsula, but quickly adds "Financing in Mexico using the Mexican property as guarantee has become more readily available through the services that we offer, with interest rates that have become very accessible in the last several months." 

 

The program has been designed to ensure a simple and efficient process for the American, Canadian or European to obtain approval for loans with clarity and with ease of mind.  Working with several lenders, the group is able to find various programs that best suit the borrower and his needs with an increased probability of qualification for the Mexico home mortgage.  "This is where our network of offices and years of expertise comes to play" added Ivan Castillo.

 

Mexico mortgage loan options

 

Mexico Home Purchase Loans

 

Refinancing your Mexico Property

 

Property cash out (raising cash on a percentage of the total amount qualified from your property)

 

Construction Loans

 

Lot loans are also available

  

The loans are offered against the collateral on the property in Mexico and the lenders are located in either the United States or from Mexico.  Fico scores of 680 or above with the requirement of making a down payment of 25%.   

 

 

There are estimates that nearly one million Americans have already purchased a home or future retirement property down in Mexico.  This amount is projected to increase as more Canadians and Americans begin retiring in the next decade.   New services and tools to help this expanding market obtain and maintain their Mexican homes will become more accessible with the years.  This can be seen with companies such as Stewart Title whose new program has been introduced with their adjustment to the market and projection of substantial increases in the amount of Mexico Real Estate property acquisitions that will begin utilizing these new channels and sources of financing. 

About the Author

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 or through the company`s web site for Mexico Real Estate

What's the name of the recent book that has a bowl of cherries on it, title is like--The Myth of Happiness?

This book was on the front tables of Borders and Barnes and Noble for awhile. The cover looked a lot like FREAKONOMICS and had a picture of what I'm almost sure was a bowl of cherries. The title was something like The Myth of Happiness or The Happiness Cure but I can't find it anywhere on Amazon or in any stores. Anyone got any ideas?

Stumbling on Happiness by Daniel Gilbert. The bowl of cherries is upside down with the cherries falling out.

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