MEXICO MORTGAGE FOR FOREIGNER NON-RESIDENT

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.

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