Select Mexico Properties

Tired of hearing about sub-prime mortgages? Wondering which company will declare bankruptcy or ask for a bailout next? Not all mortgage news is bad these days. In fact, if you’re buying real estate in Mexico or looking for real financial security, the mortgage news here couldn’t be better!

Mortgages are relatively new in Mexico. Until just a few years ago, buying real estate in Mexico meant paying cash up front. Long-term financing was not part of the real estate picture, and not surprisingly, many people didn’t own the homes they lived in.

With administrative reforms and changes in the property laws, banks in Mexico and in the US have begun offering mortgage loans to citizens and foreign investors alike. The message here: buying real estate in Mexico is safe!

Mexican mortgages operate much like US mortgages, but without the sub-prime concerns. The mortgage industry, being new here, concentrates on offering conventional mortgage products. You can also find refinancing loans here, which is great news for homeowners who want to tap into the equity in their properties. This is a real issue, since property here in Puerto Vallarta has been appreciating at a rate of about 10 percent per year for the past ten years. Equity builds up fast here!

Mortgages are denominated in either pesos or dollars and the interest rates are competitive. They’re largely comparable to what you’ll find in the US. The availability of mortgages is great news for investors. You can purchase a property, build a home, take advantage of the exceptional appreciation rates and do so using the bank’s money. When you sell, you pay off the mortgage and the appreciation is yours to keep!

If you would like more information on buying real estate in Mexico and how that can translate into financial security for you and your family, don’t wait! Please contact a Select Mexico Properties sales representative today!