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Home financing in Puerto Peñasco, Mexico

Are you looking for financing to purchase your dream condominium or home in Puerto Peñasco, Rocky Point Mexico? There are several options to consider. Call us at 480-297-8079 to discuss your options..

Seller Carry Back:

A seller carry back is where the seller will accept a down payment and then monthly payments of a certain length of time(maturity of note).  At maturity any remaining principle balance is due to the seller.  Buyer will then receive title to the property 

  • Amount Down Required: 30%-50%
  • Term/Balloon due: 3-7 Years typically
  • Amortization:  typically 10-20. Years
  • Note: Private agreement or warranty trust


Developer Financing:

New construction developers typically will offer financing at very attractive terms.  

  • Amount down required: 20%-40%
  • Term: typically 15-20 years
  • Amortization: fully amortized
  • Note: Private agreement 


Assumable note:

An assumable note in where the buyer will take over the monthly payments and obligations of a note or mortgage from a seller.  

  • Amount down: difference between contract amount of the property and amount of outstanding mortgage principle balance
  • Interest rate: depends on the existing contract details.  Can be assumable or could be adjusted upon assumption of note
  • Title: remains with the note holder until mortgage payoff


Cash out/Refi

A cash out refi may be available to you if you have equity in a property in the United States or Canada.  The amount of equity in your home and your eligibility for a loan will dictate the amount of the cash out available to you.

  • Amount down:  none - you pay for the property in full to the seller
  • Interest rates: variable or fix at a going interest rate
  • Title granted upon full payment to seller at close
  • Payments: made directly to your len
    ding institution. 


Traditional loan program - GA Hipotecario - Mortage broker

We now have traditional lending here in Puerto Peñasco.  Traditional lending allows for buyers to use Mexican property as collateral for your loan.  Contact us for details and contact information for the mortgage broker. Banks included Banorte, yave, HSBC, Kredi, and Santander

  • Financing is in PESOS
  • Age + Term = Maximum 74 to 79 years
  • Relationship 1 Million $12,000 Monthly - Pesos 
  • Net Income Ratio 2.5 to 3 times Monthly Capacity = 50% of net income – commitments in the Credit Bureau Monthly Credit
  • Minimum age from 18 years for foreigners
  • The credit includes life insurance + damage insurance
  • 70% to 85% loan to value