Avenox Patrimonio
Mortgages for foreigners in Mexico
The short answer is that it's possible but not easy, and the internet is full of people saying one or the other. Here's how it actually works at Lakeside, and what we can do about it.
Foreigners can obtain a mortgage in Mexico, but most Mexican banks require permanent residency and a Mexican credit history, which recent arrivals don't have. A handful of specialised lenders finance foreign buyers under specific conditions. Avenox, a broker in Chapala, Jalisco, pre-qualifies foreign buyers with these lenders and coordinates the paperwork with the notary.
How it works here
Cash is the default at Lakeside
Most expat purchases are cash. That's not because lending doesn't exist; it's because nobody local was helping buyers find it.
Banks want residency and history
Mexican banks generally require residente permanente status, Mexican income or a co-borrower, and a credit file in Mexico. Some accept temporary residency with conditions.
Specialised lenders fill the gap
Cross-border lenders finance foreign buyers in dollars or pesos, typically at higher rates, with minimum loan sizes that don't always match Lakeside prices. We know which ones fit which purchases.
Title and the notary
Lake Chapala is outside the restricted coastal and border zone, so most foreigners can hold title directly without a bank trust. [CONFIRM with notary — lender-specific requirements] Either way, we coordinate with the notary.
What we do
- Pre-qualification
- We take your income, residency and the property you have in mind and tell you within days whether a loan is realistic, with whom, and at roughly what cost.
- Placement
- We run the application with the lender, in Spanish, and keep you informed in English.
- Refinancing
- If you already have a Mexican mortgage two or more points above today's rates, we check whether moving it makes sense.
- Mexican buyers
- For Mexican nationals and residents we place bank mortgages, Infonavit, Fovissste and Cofinavit.
Pre-qualification
We take your income, residency and the property you have in mind and tell you within days whether a loan is realistic, with whom, and at roughly what cost.
Placement
We run the application with the lender, in Spanish, and keep you informed in English.
Refinancing
If you already have a Mexican mortgage two or more points above today's rates, we check whether moving it makes sense.
Mexican buyers
For Mexican nationals and residents we place bank mortgages, Infonavit, Fovissste and Cofinavit.
What we need to pre-qualify you
- Passport and current Mexican immigration document (residente temporal or permanente)
- Proof of income (tax returns, pension statements or pay stubs from your home country)
- A credit report from your home country, if you have one
- The property, or the budget and area, you have in mind
Questions we get
What down payment will I need?
Expect 30 to 40 percent for foreign buyers with specialised lenders, less if you qualify with a Mexican bank. Budget another 5 to 8 percent for notary fees, appraisal and closing.
Are the rates high?
Higher than in the US or Canada, yes. Mexican peso mortgages run well above northern rates, and foreign-buyer products carry a premium. Whether it's worth it depends on what the cash would otherwise earn you.
Can I use my US or Canadian credit?
Some specialised lenders will consider it. Mexican banks generally won't. Bring it anyway; it helps.
Do I need a fideicomiso at Lake Chapala?
Generally no. The bank-trust requirement applies to the coastal and border restricted zone, which Chapala is outside of. [CONFIRM with notary]
Find out where you stand
A pre-qualification commits you to nothing and tells you what you can realistically borrow before you fall in love with a house.