Foreigner Mortgage Mexico – Banks, Requirements & Timelines
Getting a foreigner mortgage Mexico is simpler than most buyers think. Whether you’re looking to buy a condo in Playa del Carmen, a villa in Tulum, or a marina home in Puerto Aventuras, this guide explains everything about banks, requirements, rates, and timelines for financing as a foreign buyer.
What Is a Foreigner Mortgage in Mexico?
A foreigner mortgage Mexico lets non-Mexican citizens purchase property legally, even within restricted coastal zones. The bank uses the property as collateral and issues the loan in USD or MXN, depending on your chosen lender.
🏦 Banks offering expat programs: BBVA, Banorte, Scotiabank, and Intercam Banco—all familiar with Riviera Maya buyers.
Who Can Apply as a Foreign Buyer
You can apply if you meet any of the following:
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Have temporary or permanent residency in Mexico.
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Show verifiable foreign income from your home country.
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Purchase through a Fideicomiso (bank trust) if the property is in a restricted zone.
💡 Tip: Many banks accept documented income abroad; residency is helpful but not always required.
Documents Needed for Property Financing in Mexico
Prepare these documents before applying:
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Passport and visa (temporary / permanent).
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Proof of income (6–12 months).
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Bank statements (3–6 months).
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Credit report (Experian, Equifax or TransUnion).
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Fideicomiso papers if applicable.
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Property appraisal (avalúo) and notary documents.
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Down-payment confirmation (30–40 %).
Banks That Finance Non-Mexican Buyers
| Bank | Currency | Term | LTV | Notes |
|---|---|---|---|---|
| BBVA México | MXN | 20 yrs | 70 % | Requires local income proof |
| Scotiabank México | USD/MXN | 15–20 yrs | 65 % | Accepts foreign income |
| Banorte | MXN | 20 yrs | 70 % | Dual-citizen friendly |
| Intercam Banco | USD | 15 yrs | 60–70 % | Popular for Riviera Maya clients |
| Private / Developer Loans | USD | 5–10 yrs | Flexible | Fast approval, higher rate |
Rates, Down Payments & Terms
Typical requirements for mortgages for foreigners:
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Down payment: 30–40 %
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Interest: 8–12 %
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Term: 10–20 years
Developers in Tulum or Puerto Aventuras may offer shorter in-house financing—easier to qualify, slightly higher price.
Timeline: From Application to Closing
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Week 1–2: Choose property & sign purchase offer.
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Week 2–4: Submit application & pay appraisal fee.
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Week 4–6: Bank reviews credit/income.
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Week 6–8: Establish Fideicomiso if coastal.
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Week 8–10: Close with notary & release funds.
⏱ Average total time: 8–10 weeks.
Alternatives to Bank Mortgages
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Developer financing: short term, often interest-free during construction.
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Private lenders: fast approval, higher interest.
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Home-equity abroad: leverage property in the US/Canada to buy cash.
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Partnerships: shared ownership via Fideicomiso.
Advantages of Financing Instead of Paying Cash
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Maintain liquidity for upgrades or new investments.
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Build Mexican credit history.
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Benefit from currency diversification.
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Use leverage to increase ROI.
FAQs
Q1: Can non-residents get a mortgage in Mexico?
Yes—Scotiabank and Intercam accept foreign income without residency.
Q2: Are early payments penalized?
Modern banks allow early payoff with no fee; confirm in your contract.
Q3: Can I finance pre-construction condos?
Yes—through developer financing or bridge loans tied to construction milestones.
Conclusion – Your Path to Property Ownership in Mexico
With proper planning, a foreigner mortgage Mexico is straightforward and secure. From ocean-view condos in Playa del Carmen to marina homes in Puerto Aventuras, financing opens the door to your Caribbean lifestyle while preserving your capital.
💬 Talk to our PropertiesBayMX agents or explore our YouTube Channel for expert guidance on Riviera Maya investments.
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