Financing
We have asked Ryland Apsey, the President of Baja Capital Mortgage to give an overview of what his company can offer in financing for Mexican real estate. Financing properties in Mexico with US money is a relatively new development. Previously all real estate transactions were strictly cash transactions. Things have changed. There are now many different options for purchasing property in Mexico, including raw land financing, cash-out refinancing for existing Mexican property, construction loans, and various adjustable and fixed-rate mortgage programs. Below Ryland has listed as a starting point the most common options for financing in Mexico. We would be happy to facilitate a meeting with Ryland for individual questions as part of your property tour here in Golden Cabo.
Financing in Mexico
BCM philosophy
BCM was incorporated in December 2005. BCM’s goal was to become the premier source of funding in Mexico with a local base and in-house closing/ processing. This goal has been realized with BCM currently being the top producing company on the Baja. BCM is also the first US-owned and operated mortgage company operating from Mexico and is also a bank-approved closing company. This has created Mexico’s first full-service brokerage fully equipped to deal with every piece of the Mexico mortgage process.
The BCM solution
The BCM solution encompasses every competitive residential loan program currently available in Mexico, 100% conversion ratio for borrowers once approved as well as strong and numerous relationships with Notarios, Appraisers, Closers, Developers, and Brokerages, a portfolio of resources, solutions and subsequent leverage which BCM draws upon to offer mortgage services unequalled in Mexico.
BCM Loan Programs
BCM has partnered up with every source of funding in Mexico to offer the widest portfolio of lending products Mexico has to offer. BCM offers over 150 different loan programs with some of the basics of each outlined below. Please call or email for a prequalification and consultation and one of our experienced financial advisors will be happy to advise you on which loan program best fits your needs and to effortlessly guide you though the Mexico purchase process.
Residential purchase / Cash out refinance
30yr fixed loans starting at 8%
25yr fixed loans starting at 7.25%
20yr fixed loans starting at 6.875%
15yr fixed loans starting at 6.625%
10yr fixed loans starting at 6.5%
No Prepayment penalties available
Construction
BCM is now lending at 70% loan to cost utilizing the land as collateral. Rates at 9% Interest only with approved builders. BCM offers Construction to permanent loans with a 1 time close and no max loan amount.
Cash out refinance
Clients can now cash out 80% of appraised value
15yr/20yr/25yr/30 yr adjustable and fixed rate loans with rates from 7% with 45 day closes
Raw Land financing
Available to US and Canadian citizens
30% down
10yr note with rates from 7%
Please contact your BCM representative for a quick 24-hr prequalification
Ryland Apsey
624.122.3552
805.275.1844
ryland@bajacapitalmortgage.com
