Get second home & investment financing for the purchase of properties in the resort cities of Mexico. More and more borrowers now seek home and condotel funding options in Mexico. However, purchasing a property in Mexico requires you to create a legal trust. Educate yourself with the options and procedures in order to make a smart investment decision.
Cabo San Lucas
Puerto Vallarta
Punta de Mita
San José del Cabo
HOW IT WORKS
The property in Mexico is purchased in a trust with the buyer and the investor as co-executors of the trust with a cross-collateralization of a property owned by the buyer in the United States. The program will finance a loan amount up to $3 million dollars with a minimum down payment of 30% and must own a property in the US with a minimum of 10% equity within the property. Contact Chad Baker today for terms and more information.
PROGRAM HIGHLIGHTS
- Property is closed in a trust, called “Fideicomiso” in Spanish
- Lender is co-executor of the trust and in the event of non-payment they take over the property
- Cross collateralization a property in the US is required in the amount of the loan in Mexico
- Equity requirement in US is 10% used more for security for the property in Mexico
- SFR, condo, condo-tel,
- Minimum Fico score 580
- Full doc, 24 month income bank statement, blended income
- Max loan amount $2m
- 70% loan to value Max
- Resort cities ideally
- Standard UW fee $1,795