How will you pay for your Mexican Property?
Cash is used in 80% of the Mexican purchases. Your U.S. Home Equity Loan is available faster and at a lower interest rate than a conventional US mortgage for a Mexican home. There are only a few U.S. companies that are currently financing Mexican Home purchases. A U.S. company will take a minimum of 60 days and an average of 90 days to approve and close a Mexican Home Loan.

So if you need financing this is the very first step.

I am pleased to announce that there are now at least 4 US mortgage companies that will finance you Mexican Property Purchase.

Caribbean Mortgage Loans
First American Title & Escrow
DNL Capital
Finance North America	Condo Club Partnerships

Contact each of these companies to decide which company works best for you and to find out loan requirements. If you are you self employed please, have your 1099 forms and 4 months of bank statements to verify your income.

Many clients have wondered why interest rates are higher for Cancun properties than for United States Properties. One reason is that the finance company takes on greater risk when financing property in another country. Suppose a US citizen finances a Cancun property and moves to Cancun and then defaults on the loan. It is quite expensive for the US finance company to recover the property. This is one of the reasons for the higher interest rates.

However consider this: Cancun and Playa are the fastest growing cities in the world. The demand for housing is greater than the supply simple economics Cancun and Playa prices are appreciating on some properties at rates of 25-40% each year. This more than compensates you for a slightly higher interest rate. Also interest paid is deductible on your US tax return. In short this is an investment that pays for itself. This investment is a no-brainer you cannot loose.