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Mortgages in Mexico


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Most of us are retired, have no significant income to pay down a mortgage and have divested ourselves of assets outside of MX, so our need for mortgages is low to non-existent.
Mortgages are available however, I understand interest rates can be quite high;
https://mexlend.com/mortgages/
https://timothyrealestategroup.com/mortgages/

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To my knowledge there are no reverse mortgages in Mexico. I assume that you are referring to a 'reverse mortgage for purchase' as opposed to the original reverse mortgage to get access to home equity NOB.  Mortgages themselves are a fairly new happening.  

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Mortgages here in Mexico normally require setting up a trust... Most lenders focus on beach areas where the buyer may rent out their home during the year... The charges and interest rates only make sence if the property is rented out... You might try googling Mexico mortgages... You will find a lot of info...

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4 minutes ago, rvanparys said:

Mortgages here in Mexico normally require setting up a trust... Most lenders focus on beach areas where the buyer may rent out their home during the year... The charges and interest rates only make sence if the property is rented out... You might try googling Mexico mortgages... You will find a lot of info...

Open the links I provided in the post directly above yours.

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Just pretend that you're back in the early 70's in Canada and the Mexican Mortgage rates will look normal.

Also have another question. In the U.S., people are used to deducting their mortgage interest on their income taxes. That option is not available in Canada... is it available in Mexico IF you pay income taxes (like on a rental) in Mexico? Or?

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1 hour ago, Ferret said:

Just pretend that you're back in the early 70's in Canada and the Mexican Mortgage rates will look normal.

Also have another question. In the U.S., people are used to deducting their mortgage interest on their income taxes. That option is not available in Canada... is it available in Mexico IF you pay income taxes (like on a rental) in Mexico? Or?

Maybe one of these sites will help:

https://www.clearfinances.net/taxes-mexico/

https://taxsummaries.pwc.com/Mexico/Individual/Deductions

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