Cross Border Investment takes pride in maintaining our clients informed about the details to acquire a property via a mortgage. We are very sincere and try to create realistic expectations for our clients. The processes do not vary much from one Mexican state to another – the most significant variation is whether clients document their income and credit history within Mexico or from a foreign country.

The majority of our Mexican clients usually have significant knowledge of the process to acquire a property via a mortgage. What usually surprises our clients is the difference that Cross Border Investment offers – in reference to the options we manage, the services we provide to stream-line the process and the contacts we have with the banks, Notarios and developers, etc. Please review the chart that we have provided in the following link http://crossborderinvestment.com/the-mortgage-process-in-mexico.html which explains the complete process of purchasing a property via a mortgage as it corresponds to nationals (or foreigners who already have their migratory status).

One of the vital qualification requirements which is very important to reiterate is that it is necessary that foreign (non-Mexican) applicants have their Mexican migratory status (temporary or permanent) in order to submit a loan application. The first step to obtaining migratory status is the application at the Mexican consulate located in the city where the foreigner lives (outside of Mexico). The second step must take place in MEXICO – so it is very important that our foreign clients take advantage of their trips to Mexico to advance their migratory status application. There are many benefits when one has their migratory status – for example, it is a requirement to be exempt from capital gains when selling a property, it is needed for various simple transactions (such as opening a bank account), and it allows a foreigner to remain in Mexico for more than 180 consecutive days. Please review the chart that we have provided in the following link http://crossborderinvestment.com/the-mortgage-process-in-mexico.html where we explain the complete process of purchasing a property via a mortgage as it corresponds to foreigners and how to incorporate the process of obtaining migratory status with the mortgage application.

It remains to be mentioned that as the leader in Mexico for mortgages for foreigners, we are working with various lenders to introduce more options and loosen the current qualification policies. We have already had various meetings with the directors of different banks whom combined are responsible for approximately 75% of all mortgages granted in Mexico, and we hope to have exciting news soon! Launching a new mortgage is a tardy and laborious process, but our goal is to have more attractive mortgages offered by stable institutions. Once we have these new mortgages, we will send the corresponding information.

As always, we appreciated your preference. We are available for any questions or comments you might have.

Kind Regards,
Cross Border Investment

josh@crossborderinvestment.com
Niza Business Center | Río Amarillo 216 | Fluvial Vallarta | Puerto Vallarta, Jalisco | 48312
MEX: (322) 222-1113 | MEX toll-free: 01-800-841-5363 | US/ CND toll-free: 1-888-201-1095
www.crossborderinvestment.com
www.hipotecariacbi.com