Americans can apply for mortgage loans on Mexican properties through Mexican lenders. While sometimes these lenders are banks, more often they are Mexican mortgage brokers, as ConfiCasa Mortgage International explains.
Before 2004, most Americans purchasing real estate in Mexico had to pay in cash. In the mid 2000s, after U.S. title and escrow companies began to do business in Mexico, Mexican lending companies, including major financial institutions, developed mortgage programs for foreign buyers, including Americans, wanting to purchase property in Mexico. Lending is limited to major resort areas, and loans require a minimum down payment of at least 20 percent. Interest rates are typically higher than mortgage interest rates in the United States, according to ConfiCasa Mortgage International.