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:
Have temporary or permanent residency in Mexico.
Show verifiable foreign income from your home country.
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:
Passport and visa (temporary / permanent).
Proof of income (6–12 months).
Bank statements (3–6 months).
Credit report (Experian, Equifax or TransUnion).
Fideicomiso papers if applicable.
Property appraisal (avalúo) and notary documents.
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:
Down payment: 30–40 %
Interest: 8–12 %
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
Week 1–2: Choose property & sign purchase offer.
Week 2–4: Submit application & pay appraisal fee.
Week 4–6: Bank reviews credit/income.
Week 6–8: Establish Fideicomiso if coastal.
Week 8–10: Close with notary & release funds.
⏱ Average total time: 8–10 weeks.
Alternatives to Bank Mortgages
Developer financing: short term, often interest-free during construction.
Private lenders: fast approval, higher interest.
Home-equity abroad: leverage property in the US/Canada to buy cash.
Partnerships: shared ownership via Fideicomiso.
Advantages of Financing Instead of Paying Cash
Maintain liquidity for upgrades or new investments.
Build Mexican credit history.
Benefit from currency diversification.
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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