How to define a mortgage for foreigners (non-residents) in Mexico?
In Mexico, mortgage for foreigners (non-residents) is a type of home loan offered by Mexican banks or specialized lenders to people who are not Mexican citizens and who do not live full-time in the country.
In Mexico, the home loans for foreign non-resident are designed for international buyers—often from the U.S., Canada, or Europe—who want to purchase property in Mexico either as a vacation home, an investment property, or a retirement plan.
Can I, as foreigner and non-resident in Mexico, obtain a mortgage ?
es 👍 — as a foreigner and non-resident in Mexico, you can obtain a mortgage, but there are some important conditions and limitations to understand:
📌 Legal Eligibility
- Mexican law allows foreigners to buy property in most parts of the country.
- Within the so-called “restricted zone” (50 km from the coast and 100 km from international borders), foreigners must buy through a bank trust (fideicomiso) or a Mexican corporation.
- This doesn’t block you from getting a mortgage, but the property structure matters.
🏦 Mortgage Access for Non-Residents
- Some Mexican banks and private lenders do offer mortgages to non-residents, especially for vacation homes and investment properties.
- Requirements often include:
- A valid passport and residency visa (temporary or permanent is preferred, but some lenders accept non-residents).
- Proof of income and employment (from abroad is accepted, but must be documented).
- A strong down payment (usually 20%–40%).
- Bank statements and credit history (sometimes from your home country).
💰 Key Differences vs. Locals
- Interest rates for foreigners are usually higher than for Mexican citizens.
- Loan terms may be shorter (often 10–20 years).
- Currency: some lenders allow USD mortgages, which is helpful for foreigners earning abroad.
✅ Alternatives
If a traditional bank mortgage is hard to obtain, many foreigners turn to:
- Developer financing (when buying new properties).
- Cross-border lenders in the U.S. or Canada that specialize in Mexican real estate.
- Private lenders who are more flexible but often more expensive.
Which Mexican banks and alternative lenders make mortgages available to non-resident foreigners ?
Mexican lenders and specialized providers offering mortgages to non-resident foreigners, along with their key criteria:
1. Yave (Cross-Border Digital Lender)
Yave provides streamlined, fully online cross-border mortgages for non-Mexican citizens—residency not required. Key features include:
- Down payment: as low as 15%.
- Interest rate: fixed at 11.66%. yave.mx
- Loan term: up to 20 years, approvals in 48 hours or less.
- Accepts foreign credit reports and doesn’t require a Mexican credit history. Requires stable, verifiable income and, e.g., for U.S. applicants, FICO ≥ 680.
2. MoXi (Global Mortgage / Global Mortgage MX)
MoXi specializes in cross-border mortgages originating in USD, tailored to U.S. citizens purchasing property in Mexico—although other nationalities may inquire.
- Loan size: from $250,000 to $2.5 million USD.
- Loan-to-value (LTV): up to 65% of appraised value.
- Term structure: fixed rate, fully amortized, no balloon payments, no hidden fees, and no FX risk. Mortgages are originated and serviced in USD, with interest potentially tax-deductible. globalmortgage.mx
3. Traditional Mexican Banks (for Permanent Residents)
Some traditional banks offer mortgages—but typically only to foreign nationals with Permanent Resident (Residente Permanente) status. If you are non-resident, access is limited or only possible through private lenders or cross-border specialists.
- Requirements for permanent residents include:
- Six months of foreign bank statements.
- Three months of Mexican bank statements showing deposits covering at least 200% of the mortgage payment.
- Mexican RFC tax number, a medical certificate, proof of address, and both U.S./Canadian and Mexican credit reports.
- Loans may reach up to 90% LTV—i.e., down payment of ~10% if all documents are in order.
- Without permanent residency, only private lenders can assist—and they typically charge higher interest rates and have less standardized processes.
4. Specialized Cross-Border / Private Lenders
Beyond banks, several independent or specialist mortgage providers cater to non-resident foreigners:
- Cross-border mortgage firms (e.g., independent specialists, MoXi, Yave) rely on foreign income and credit—often more flexible than traditional banks.
- Anecdotal accounts suggest non-residency mortgages exist in Mexico City with favorable terms: approx 9.5% APR, up to 90% financing, and no prepayment penalties. These are not mainstream, but indicate some private lenders tailor solutions for foreigners.