There are any number of Banks and Mortgage Brokerage Companies that offer mortgage financing for the purpose of purchasing, building or refinancing your Mexican home. Since closing procedures, laws and fees are different in Mexico than in the United States or Canada, Paradise Village Real Estate agents will work together with your lender or mortgage broker through the entire process to make sure purchasing your Mexican home is safe, easy and worry-free lenders.
After Paradise Village Real Estate helps you find the perfect property for your needs you may need financing. With that in mind, we work with a variety of mortgage providers that will customize a financing option that is perfect for your purchase. Paradise Village offers in house financing on select inventory.
For more information on the options offered by these providers, please contact a Paradise Village Real Estate professional. Similar to financing in the United States, financing your home in Mexico requires your tax returns, pay stubs and/or W-2 forms in order to verify income. Alternative documentation programs are also available that allow the use of bank statement deposits for verifying income.
Or, you can simply state income without providing verification. Two months of statements on all bank accounts are usually required. We suggest you check with your mortgage broker or lending institution for the latest requirements. The initial credit approval process usually takes just 3–7 days from the time you have provided the necessary documentation. Next the lender orders an appraisal. This takes roughly 2 to 4 weeks.
When the appraisal has been completed and all conditions of the loan satisfied, the closing process begins. This process takes anywhere from 60–90 days to close. Once the municipal tax appraisal and required permits have been received, you can begin the process of drafting your closing documentation, at which time you will be ready to sign and close your loan time.
Here, not only can you build your dream home, but also take advantage of a privileged lifestyle of exciting recreation just few steps away.