International Financing for Americans
New information about loans and home financing is now available!!!
Greetings,
Up until now, only mortgages for Primary residence or second homes were available, meaning only one loan per person. Some exceptions were granted where homes were in different geographical locations, but that was the exception∑. until now.
Deutsche Bank has now decided to open their Financing products to BCM. The highlight of their program; and how we see it as a value add for our Realtors and clients is that they are now allowing up to 3 loans per person. This is a first and something we have been waiting for in the Mexico marketplace for some time. The 3 loans can total a maximum of $6,000,000 for each borrower. This product is now available for British, US and Canadian citizens and should allow realtors to pitch financing on several homes at a time as opposed to just one allowing you to maximize the amount of possible sales per person.
Please let me know if you require more specifics on this program or if you require your clients be pre qualified, just have them fill out the attached application and I will provide you a Prequalification in 24yrs or less.
Regards
Ryland Apsey
President
Baja Capital Mortgage inc
Hidalgo E/Blvd. Marina y Zapata
Local 5. Edificio Hidalgo. Col Centro
Cabo San Lucas. MX.23450
Mex 624.143.1409/ USA 805.275.1844/ Fax 805.456.2064
http://www.bajacapitalmortgage.com
Mortgages In Mexico has been very busy. As anticipated, this is definitely the year of the Canadian!! We have had approximately 50% of our new loans since the first of the year with Canadians. We now have two (2) excellent sources of Canadian money available. These programs vary in length from 20 to 25 years. Interest rates vary from 7.5% to 9%, and the down payment requirement is from 25-35% down. We also have money for those difficult to qualify "self-employed" Canadian and US buyers. We are able to qualify these buyers with 6 months of bank statements instead of using the (usually) limited income shown on their tax returns. We are still going strong with US buyers as well.
The question on everyone's mind is will interest rates in Mexico come down as a result of the recent Federal Reserve drops in the US. The answer is no. The Federal Reserve changes are designed to affect short-term rates, and in fact the LIBOR index (used to determine what a new adjustable rate payment will be) has come down over 1%. This is good news for people who have adjustable rate loans. Unless and until short-term interest rates remain low for a long period of time, there will not be a drop in interest rates for Mexico loans. The risk factor for Mexico loans has already been calculated into our existing rates, and in spite of the ups and downs in the US markets over the last year and a half, we haven't seen any changes in our Mexico rates - it is somewhat, but not totally insulated from the US markets.
Mortgages In Mexico is anticipating the return of GMAC back into the market sometime this month. They have been purchased by a Wall Street brokerage company who has been eager to get into the Mexico mortgage market. We anticipate being able to loan in excess of $1 million loan amounts, and a stated income program. This fits very well with the financially sophisticated client who prefers not to divulge every detail of his/her financial life. GMAC will be known under a different name when they come back into the market.
We are also anticipating new and improved guidelines from GE. GE recently lowered their maximum loan amount to $1 million. We believe we will once again be able to loan in excess of $1 million with GE as well. We will be getting specific guidelines probably by the end of February and will keep you posted on the changes. We know there are new procedures which will prevent delays that were caused by "multi-level" approval processes. This meant we had to get a loan approved by several different levels of management, which added time and requirements. Our primary underwriter will have authority to approve loans up to $1 million. This will be a HUGE time savings. Previously the underwriter could only approve loans up to $300,000 before it had to get further approvals from upper management.
We continue to see more and more larger loans. Since the first of the year, we've taken several loans in the $600-800,000 range, one for $900,000 and 2 loans of $1 million or more. In addition to GE and GMAC coming back into the market with loans of more than $1 Million, we currently have a lender doing these larger loans. These loans can also be made to previous customers of yours who want to take some cash equity out of their homes in Mexico that you sold them. We call this a "cash-out" refinance. Existing homeowners/investors see what is going on with increasing prices in Mexico, and they want to invest in other properties in Mexico. The US market is a good 2 years away from starting to go back up, and these savvy investors want to park their money in good investments. Mexico real estate is an excellent choice. Now may not be a good time for investors to pull equity out of their real estate in the US because the values of their homes (and available equity) continue to go down.
It may be easier to refinance a Mexico home right now than it is in the US!
Doug Jones, President
Email: "Doug Jones" <doug@mortgagesinmexico.com>
918-398-9588 (US)
555-350-6331 (Mexico)
617-600-9675 (FAX)
044-322-135-5822 (PV cell)
www.MortgagesInMexico.com
Commercial Real Estate Loans
CARPEDIEM YUCATAN
Carpe Diem Yucatan S.A de C.V
Tom Martin, President
Email:tom@carpediemyucatan.com
From US: 713-893-8300 Office
From MX: 558-421-8311 Office
From US: 713-529-8078 Home
From MX: 998-121-1316 Cell
Skype: cdymexico
Collateral International
Collateral International, LLC is providing financing in Mexico. Financing in Mexico can be a complex process. Collateral makes the process of buying a home in Mexico less burdensome. We interface with Mexico realtors and developers on an ongoing basis. We have been providing vacation home financing for US citizens so they can live well in Mexico.
http://collateralinternational.com
Collateral International
210 Automation Way
Birmingham, AL 35210
Local: 205-951-7330
Toll-free: 1-800-370-1130
info@collateralinternational.com
Laredo National Bank
The Laredo National Bank, serving two nations since 1892.
Sandra H. Salinas
Vice President
(956) 723-1151 ext 3749
shsalinas@lnb.com
Quality Mortgage
Spencer McMullen
USA 1-805-563-3300, ext. 105
or
1-805-689-9733
SKYPE: Quality_Mortgage
LOANS FOR CONSTRUCTION
&
PURCHASE OF PRIVATE HOMES IN MEXICO:
INTERCON BANK
Intercontinental National Bank
5631 Broadway
San Antonio, TX 78209
(210) 645-3700
Steve.Pritchard@InterConBank.com
~~ Mortgage program that provides to American Citizens that have their primary residence in the USA who are building, aquiring or remodeling a second residence in Mexico ~~
Brian Murphy, American Home Lending
Available for American, Canadian, British, and Mexican citizens.
Residential loans, purchases, refinancing, and construction loans.
US: (303) 531-5070
Titan Reserve, LLC
Mortgage Trust Loan Program
Ed Flower, CEO
NC Phone (919) 824-3131
MI Phone (734) 854-3060
OH Phone (614) 378-4025
Fax # (859) 201-1161
Titan Reserve Hotline 638-107-8266
Titan Reserve Mexico Loan Application
Mortgage Trust Program Outline
FINANCING FOR MEXICAN NATIONALS:
HABI Fin 2021
Monte Libano No. 245}Lomas de Chapultepec
Mexico 11000 D.F. Mexico
Tel: 202-6777 Fax: 520-9227
Empresa Administradora ARSA de C.V. Hábitat 2000
Oficina Matriz:
Av. San Antonio No. 200 Col. Ciudad de los Deportes
C.P. 03710, Mexico, D.F.
Tel.: 598-9018 Fax: 598-9375
LOAN PROGRAMS FOR CANCUN
ATTACHED OUR OUR NEW PROGRAMS FOR CANCUN AND COZUMEL, IF YOU HAVE ANY PRE-QUALIFICATIONS THAT YOU NEED E-MAIL THEM TO ME, NO UP-FRONT FEES FOR CREDIT APPROVALS.
ERLING
Mexico Mortgage Products Overview
•
Purchase, refinance, cash-out refinance, construction to permanent (can do construction-to-perm
loans for BOTH homes AND condominium units)
•
Single-family homes, condominiums and bare lots
•
Down payments as low as 20% / LTV’s up to 80%
•
Financing for Americans and Canadians
•
10, 15, 20, 25 and 30-year terms available; both fixed and ARM products available
•
Rates from 6.5% - 8.99%, depending upon lender and product
•
Loan amounts from $50,000 to $5 Million
•
Minimum FICO score is 650
•
No geographical restrictions
•
Documentation types available include full documentation (tax returns/pay stubs to prove income),
alternative documentation (bank statements in lieu of tax returns) and, in some special cases,
stated income/verified assets (proof of assets, not income, required)
•
We handle the entire loan and real estate transaction, from loan application to coordination with
the Notario, through closing and disbursement of funds to all parties through Escrow. Give your
buyers and sellers the comfort of a professional third-party closing, and free yourself up to do what you do best -- sell real estate.
•
Always free and quick prequalifications (initial answers given within 30 minutes of receiving
completed form)
•
No upfront fees to borrowers, ever; lowest closing costs of any broker in Mexico, guaranteed. We
will always meet or beat any legitimate Good Faith Estimate of any other broker/lender.
•
Proven track record of closing loans in Mexico
ERLING HALVORSEN, YOUR AGENT IN CANCUN AND COZUMEL
PHONE (US): 360-389-6743 TOLL FREE FAX: 866-385-4951
E-MAIL: erling@mexloan.com
Email: erling7halvorsen@yahoo.com
Setting the Standards for Ethical Business
We serve you in German, English and Spanish language
We provide:
Commercial lines of credit
Commercial Development financing
Refinancing from existing, operating commercial projects
Hotel Financing
Mining Funds
Funds for projects of social interest (low cost housing, Energy related projects, recycling etc.).
Minimum Loan amounts conventional:
Mexico/south Americas 10 Million US if international funds are requested
Mexico 5 Million US if national funds will be accepted
USA 3 Million
Canada 3 Million
Germany/Europe 10 Million
others - case by case only.
We look forward to hearing from you. Thank you for your consideration. Please check also our website www.rshprofessionals.com <??>
Important note for Latin American projects: if international funds are desired documentation has to be submitted in English language
including legal documentation such as Corporate Documentation, Property Title, Notary documentation, permits, etc. If you seek national funds documentation can remain in your language and has not to be translated.
Erika & Heinz Hollerith
Hollerith Underwriting Services S.A. de C.V.
RSH Commercial Mortgage Professionals
Commercial Loan Underwriting & Services
Locations: Canada-Halifax, Mexico-La Cruz
Ph: 52-329-295-5564
Fax: 52-329-295-5564
The information on this page is provided for the convenience of our clients.
The inclusion of a finance company's name on this page should not be construed as a recommendation or endorsement by Cozumel Living.
CHECK OUT THE COZUMEL LIVING WEP PAGE TODAY
Cozumel Living is a Multi-Listing company, we can assist you with other listings on the island.
If you would like additional information on these or any other properties, please don`t hesitate to contact us !!!
Nancy Edwards
Broker
Email: nancy@cozumelliving.com
Cellular:
0449871114515
Office Phone: (987)869-2345 (987)872-6431
Phone & Fax: (987)869-1244
From the USA 011-52 (987) 869-2345
You can also reach us directly from the States by dialing this Dallas Line: 1-214-329-4088
Email us at:
carlos@cozumelliving.com cozumelliving@hotmail.com
CLICK the mail box to receive your monthly news letter!!!!
(Just send us your name and email address).
We are located in Cozumel:
Av. Melgar No.602 entre 7 y 11 Sur. Edificio Colon Suite No.4
Cozumel Q.Roo Mexico 77600
(Next to Navy Base).
Revised on JuLY 2008
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