Can You Get a Mortgage in Mexico? Financing Options for U.S. and Canadian Buyers

Can a foreigner get a mortgage in Mexico?

Yes, but options are narrower than in the United States or Canada. Mexican banks do lend to foreigners, though many require temporary or permanent residency, documented income, and a sizable down payment. Buyers without residency often turn to developer payment plans, private international lenders, seller financing, or cash.

Your financing options compared

The ranges below are commonly quoted figures from published 2025 guidance, including a guide from Lorad Law, and are not guarantees. Rates, loan-to-value limits, and requirements change, so confirm them with each lender.

If you already own a home in the United States or Canada, some buyers also use equity from that property to fund a purchase. That is a decision for your own lender and tax advisor.

What do Mexican banks look for?

• Residency. Major Mexican banks usually require a temporary or permanent resident card. See our guide to temporary and permanent residency.
• Verifiable income. Pension statements, investment income, or remote work contracts can qualify, and lenders calculate a debt-to-income ratio.
• Credit history. A strong credit record from your home country helps, and some lenders also build a preliminary Mexican credit profile.
• Appraisal. The loan is based on the appraised value, which can differ from the price you negotiate.

Does developer financing exist?

Yes. Many developers of pre-construction and new projects offer payment plans tied to construction milestones, which lets a buyer pay in installments instead of taking a bank loan. Terms, deposits, and protections differ by project, so review the purchase contract carefully with a qualified attorney. Our guide to pre-construction versus resale explains the trade-offs, and you can explore new construction in Puerto Vallarta and Riviera Nayarit.

Is it better to pay cash?

Cash is simpler and usually closes faster, and it avoids interest and lender approval. Financing can preserve your capital for other uses, but the cost of borrowing in Mexico is higher than many U.S. and Canadian buyers expect. Compare the interest cost against your alternatives, and factor in closing costs, which we cover in closing costs in Mexico.

How to plan your purchase

1. Confirm whether you qualify for residency or plan to buy without it.
2. Get a clear picture of ownership: near the coast, foreign buyers typically use a bank trust (fideicomiso). Read can foreigners buy property in Mexico and how to buy in Mexico.
3. Speak with a lender or advisor about the structure that fits your finances.
4. Work with a notario público and an attorney on the closing.

Frequently asked questions

Can a foreigner get a mortgage in Mexico?

Yes. Mexican banks lend to foreigners, but most require residency, documented income, and a significant down payment. Private international lenders and developer payment plans are common alternatives.

What down payment is required for a mortgage in Mexico?

Commonly quoted figures are about 30% or more with Mexican banks and about 40% to 50% with international lenders. Terms vary, so confirm with your lender.

Is it better to pay cash for property in Mexico?

Cash is simpler and faster to close and avoids interest. Financing can preserve capital, but borrowing costs in Mexico are higher than many U.S. and Canadian buyers expect.

Does developer financing exist in Mexico?

Yes. Many developers of new and pre-construction projects offer payment plans tied to construction milestones. Terms vary by project, so review the contract with a qualified attorney.