MLSbaja.com agents are committed to assisting you in all areas of a safe investment in Mexican property and secure transition to your new home. As such, we do our best to only offer properties which are eligible for both financing and title insurance for your security.

Financing in Baja has traditionally been done outside of Mexico, generally by refinancing another USA property for a cash purchase in Mexico, as the rates have been much more attractive, and often still can be.  Recently, with changes to Mexican law, both title insurance companies such as Stewart and First American Title make policies available in Baja, and as a result, USA based lenders are also willing to finance those properties as well, and at more reasonable rates than have been available in the past.  If financing is an option you may want to consider, it may be a good idea to know what you will need for a deposit and what kind of financing you can obtain before you start looking for property.

There are several options:

An existing foreign home equity loan is probably still the most popular method of financing your Mexican homeas both interest rates and the time to arrange financing are favorable.

U.S. Mortgage – This is now possible and how much financing you can obtain depends on the development as well as your own credit history. Since many developers will require as much as 50% deposit, lenders may allow you to take money back at the completion of the development.  Rates as low as 7.99% are available but be sure to check the additional costs which may be involved in closing the loan.

	Developer financing- This has been very helpful to many buyers as it generally requires no qualifying and between 50% and 80% may be carried by a developer, with interest rates generally a bit higher than U.S. buyers may expect. The developer may allow terms to complete the deposit and either finance the remainder directly or make arrangements for you with an outside lender.
	Borrow from family or friends?  Not really, but seriously, more and more clients are making second home/vacation home purchases, and it can be quite attractive to many to get involved in a "fractional ownership" situation with people you already know and trust.

To get started with this simple application process and please contact us with any questions you may have. We look forward to working with you, and can privide you with a choice of mortgage brokers who understand financing on both sides of the border. 

Title Insurance Options

Should you choose to finance directly on your Mexican purchase, you may expect Title Insurance to be a mandatory requirement of the financial institution, just as it is in other countries.

Even if you are paying cash, it is an option to seriously consider. Independent of whether you wish to actually buy title insurance, we do believe you may want to seriously consider making "ELIGIBILITY FOR TITLE INSURANCE" a condition of any offer you make on any property.  Then hire only a title insurance company approved attorney for your closing attorney, and do not proceed unless the title company of your choice, after reveiwing the documentation, are willing to provide a letter of commitmaent to issue title insurance! Period! The title companies will provide you with a list of qualified attorneys, or just ask us and we will mail you the list as provided by First American Title out of Maimi, Florida.