With the real estate market in Puerto Vallarta continuing to boom with no signs of slowing down, many foreign buyers are recognizing that now is the time to get into the market. If you are considering financing a home in Mexico, there are options which may be available.
Companies like MEXLend offer a variety of home mortgages in Mexico including private USD loans, MXP loans through Mexican banks and loans for commercial ventures. A mortgage broker is also able to provide you with an array of different loan options and rates and guide you through the process of securing your home loan easily.
Some developers will offer financing options on new construction properties, often requiring a 30% or more initial deposit with the bulk of the remainder to be paid at set intervals during the construction process and a final payment to be made at the time the owner takes occupancy.
Some sellers may also be willing to provide financing, which is frequently structured as a bank trust with the seller/lender named as primary beneficiary and the buyer as the secondary beneficiary. When the loan is fully paid, the bank will then approve and amend the trust, naming the buyer as the primary beneficiary.
At Tropicasa Realty, we offer an in-house legal department and have long-standing professional relationships with reputable notaries and developers so that you can approach any real estate purchase with confidence. Contact us for more information on buying your dream home in Puerto Vallarta today.
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