These are the legal requirements and restrictions to buy a property from outside Mexico. In a globalize world, purchases done from a country to another to acquire goods are becoming broadly common. Even if you or your relatives are living in the United States, you could take out a mortgage loan to buy a property in Mexico.
What are the requirements to buy a property from abroad?
If you are abroad and want to acquire a property in Mexico, there are some requirements you need to consider so you can obtain your mortgage loan.
Age: You must be 18- 85 years old.
Work: To demonstrate your financial stability, It would be asked at least a year doing the same work activity.
Address: You must have been living in the same address for at least 6 months inside the United States or Canada.
Representative in Mexico: To sign the house deed, if you are not able to travel to Mexico, a relative can represent you on this side of the border.
Credit History: You have to prove a credit history in both countries.
Income: You need to demonstrate you have the payment capacity for the mortgage loan, and that your source of income comes from a lawful activity.
What are the benefits in doing so?
Regardless of your immigration status, if you receive the benefit of this service you will access the Mexican financial system, which can open the way to obtain other types of credits.
You can secure your heritage in Mexico through the acquisition of a property, with up to 90% financing of the value of the property.
It will be possible for you to pay from the United States in pesos at a fixed rate and within a term of 5, 10, 15 or 20 years.
With an individual mortgage loan you will obtain the coverage of different insurances.
