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How to Get a Mortgage for Real Estate in Mexico as a Foreigner

Posted by n0poti on March 29, 2023

If you’re a foreigner looking to purchase a property in Mexico, it can take time to navigate the mortgage process. However, getting a mortgage in Mexico as a foreigner is possible, and this article will guide you through the process.

Understanding Mexican Mortgages

First, it’s essential to understand how mortgages work in Mexico. Unlike the United States, where interest rates are fixed, and mortgages are typically for 30 years, Mexican mortgages generally are for 10-20 years, with variable interest rates.

Additionally, the required down payment for a mortgage in Mexico is typically higher than in the United States. While a down payment of 10-20% is standard in the US, in Mexico, it’s common to require a down payment of 30% or more.

Steps to Get a Mortgage in Mexico as a Foreigner

Work with a reputable real estate agent

The first step to getting a mortgage in Mexico is to work with a reputable real estate agent who is familiar with the local market and can help you find a property that meets your needs and budget. Your real estate agent can also recommend lenders specializing in mortgages to foreigners.

Gather required documents

To apply for a mortgage in Mexico, you must provide the lender with several documents, including your passport, proof of income, tax returns, and bank statements. Your lender may also require you to provide a credit report from your home country.

Choose a lender

Several lenders in Mexico provide mortgages to foreigners. It’s essential to choose a lender who has experience working with foreigners and who can offer competitive interest rates and favorable terms. Your real estate agent can help you compare lenders and choose the right one for you.

Get pre-approved

Before you start looking for properties, getting pre-approved for a mortgage is a good idea. This will give you a better idea of how much you can afford to spend on a property and make the buying process smoother and more efficient.

Make an offer

Once you’ve found a property you’re interested in purchasing, you must make an offer. Your real estate agent can help you negotiate a fair price, and once you’ve agreed to the terms, you’ll need to sign a purchase agreement and put down a deposit.

Finalize the mortgage

After you’ve made an offer and the seller has accepted, you must finalize the mortgage. This involves providing additional documentation to the lender and signing a loan agreement. Your lender will then provide you with the funds needed to complete the purchase.

Benefits of Getting a Mortgage in Mexico

While the mortgage process in Mexico can be more complicated than in other countries, there are several benefits to getting a mortgage as a foreigner.

First, owning a property in Mexico can be an excellent investment, and getting a mortgage can help you make that investment without having to pay for the property upfront.

Second, getting a mortgage in Mexico can help you establish credit in the country, which can be beneficial if you plan to live or do business in Mexico long-term.

Finally, getting a mortgage in Mexico can help you take advantage of favorable exchange rates. If you’re paying for the property in US dollars, you may get a lower interest rate than you would if you were borrowing in pesos.


Getting a mortgage in Mexico as a foreigner can be challenging, but it’s possible with the proper preparation and guidance. By working with a reputable real estate agent and lender, gathering the necessary documents, and following the steps outlined above, you can successfully purchase a property in Mexico and enjoy all the benefits of owning real estate in this beautiful country.

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