Recent News On Home Mortgages for Mexico
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My Disclaimer: This article is just to alert you of a new way to be able to obtain financing on your dream home here at safe, beautiful and affordable Lake Chapala, Mexico.
I’ve just recently learned about a firm called MEXlend from an article I read written by Patrick Harrison that I found on line who lives in Puerto Vallarta and you can reach him at Patrick@pgringo.com where he runs a Marketing and PR firm.
I’m not connected with Patrick or MexLEND in any way. I’ve not checked them out, but because the article was very interesting and the information may have the potential to allow more of you guys to be able to make your dream of buying a home here come to fruition sooner rather than later I want to make you aware of this article and firm.
Of course you should check the firm out completely BEFORE doing any business with them.
If you’ve had any experience with them already or do in the future please give the rest of us your valued opinion here on www.ChapalaClub.com.
Here’s a summary of the information in Patrick’s informative article.
The firm is based in Puerto Vallarta here in Mexico. They are offering loans to buy real estate here in Mexico without the usual laborious process of typical real estate financing, according to David Schwendeman co founder and COO of MEXLend.
The program they have allows borrowers to borrow up to 80% of the value of their stocks and bonds portfolio while paying 2points with interest rates of 3 to 4% per year for a 3 to 5 year term. They stress the process is simple and straight forward with a minimum of paperwork.
The also point out that their loans are not limited to the Puerto Vallarta area of Mexico and from what I can tell would include the Lake Chapala area. Apparently they’re willing to refinance a current loan, or cash out an existing equity.
In summary MEXLend states that they currently represent 8 different lenders offering 75 different loan options in Dollars and Pesos for buyers wanting to purchase homes in Mexico.
Let me have your thoughts in the comment section below if you’d like me to continue to alert you to information I find on line that might have the potential to help you… or if you prefer that I restrict my posts here on www.ChapalaClub.com to things I have personal knowledge and experience with.
All for now