Buying in Mexico
Financing Property
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Generally, property purchases in Mexico are cash based. There are US financial institutions that are beginning to finance Mexican real estate, but the interest rates are rather steep. The same goes for finance within Mexico; you must have lived here, with a work permit (FM3) for at least 6 month, held a functioning bank account and be willing to pay 12% interest, minimum.
Some sellers will offer private financing, but they usually require a 50% deposit and short time frame on re-payment.
The good news is that with so much foreign investment taking place, there are banks making the move to simplify foreign purchases in Mexico.
