Property
Mexico — Property: Mortgage Availability
Foreigners can obtain a residential mortgage in Mexico, but approval criteria are stricter than for Mexican nationals. As of early 2026, peso-denominated mortgage rates for foreigners run roughly 9-14% (expected to hold in the 10-11.5% range through end of 2026), while cross-border USD loans for qualified US/Canadian buyers run 5-9%. Foreign applicants typically face larger down payment requirements — 30-50% of property value, versus 10-20% for Mexican nationals. Foreign residents (temporary or permanent) with stable, verifiable income have the easiest access, as banks view them as lower-risk. Common loan terms run 10, 15, or 20 years, with some lenders extending to 30 years depending on borrower profile. Foreigner-friendly lenders include BBVA México, Santander México, Scotiabank México, HSBC México, and Banorte.
Key facts
- Peso mortgage rates for foreigners (2026): ~9-14%, expected to hold 10-11.5% through end of 2026.
- Cross-border USD loans (qualified US/Canadian buyers): 5-9%.
- Foreign buyers typically need 30-50% down payment vs 10-20% for Mexican nationals.
- Foreign residents (temporary/permanent) with verifiable income get easiest approval; loan terms typically 10-20 years, up to 30 in some cases.
- Foreigner-friendly lenders: BBVA México, Santander México, Scotiabank México, HSBC México, Banorte.
Costs
- Peso mortgage rate (2026): 9-14%
- Cross-border USD loan rate: 5-9%
- Foreign buyer down payment requirement: 30-50% of property value
Timelines
- Typical loan term: 10-20 years (up to 30 in some cases)
Common mistakes
- Assuming down payment requirements match those for Mexican nationals (10-20%) — foreigners typically face 30-50% requirements.
- Not obtaining Mexican residency status before applying — residents get significantly easier approval than non-resident foreign buyers.