Financing Real Estate in Baja California Sur
It is possible for Americans, Canadians and foreigners to finance property in Mexico.
Mortgage Terms
Loan size $100K - $2.5 MM
Interest rate: From 7.0 % to 10 % (NOTE: Depending on qualifications)
3% Loan origination
15 Years fully amortized
60% Loan to value
38% Debt to income
No prepayment penalties
Cash-out refinancing
We update this page as programs change; this report is current/accurate as of May 2021.
Prequalification
Prequalification The prequalification or creditworthiness process starts by answering a short series of questions and giving the authorization to order your credit report. The cost of the credit report is $100 USD. The credit along with the shorts answers to each question provides you with an initial decision that will determine the next steps in the loan process.
For each applicant the following information is required:
Type of loan: Purchase or Cash-Out Refinance
Loan Amount
Property Address
Is this property going to be a primary or secondary residence?
Name
Address
Phone number
Email
Social Security Number
Date of Birth
Estimated Annual Income
Estimated Assets (checking, savings, retirement, etc)
Signature for borrower certification and authorization
The next step is to complete the prequalification process. All required information listed above is reviewed for accuracy and determined if you meet the strict requirements of progressing to the pre-approval, underwriting, and funding of the loan. You will receive a decision on prequalification within 48 hours after all information has been provided.
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