Mexico Mortgage Calculator

Let's Get Started!

Now that you know how foreign individuals finance and own real estate in Mexico you can use our SoBankable Cost Calculator to give you an estimate on the costs associated with establishing a Fideicomiso with mortgage financing. The costs for establishing a Fideicomiso may appear high, but notwithstanding, we want to make you aware of these costs now so you can make an informed decision going forward.

Questions? Or Get Preapproved

Speak to our Mortgage Specialists today.

Email

info@sobankable.com

Toll Free

1-844-741-4931
8:30am to 5:00pm MST

Phone

780-702-9231
8:30am to 5:00pm MST

Gain on Exchange

SoBankable lends in Canadian dollars (CAD), which means borrowers who repay their loan using CAD have no exchange rate risk. But there is an even greater potential for savings when borrowers convert US dollars (USD) to CAD to pay their SoBankable loan. This is possible because of historically favorable USD/CAD exchange rates, which can generate significant savings.

Let us show you how currency exchange rates can significantly reduce your cost of borrowing in Mexico!

Learn How

Residential Mortgage Quote

SoBankable mortgages are funded in CAD. As you are likely to transact in U.S. dollars the mortgage quote is provided in both USD and CAD. Explore our USD Effective Rate Calculator to learn about potential cost benefits gained on exchange rate when you repay your CAD loan using USD.

Loan Purpose
Property Type
	In USD	In CAD	In MXN
Property Value
Loan Amount
Less Lender Fee
Net Loan Amount
Down Payment
Monthly Payment

Country	Mexico
State
Municipality
CAD/USD Rate:		Estimated
MXN/USD Rate:		Estimated
Amortization:	30	Years
Term:	60	Months
Loan to Value
Rate Lock	90 days
Interest Rate

The interest rates assume borrowers have credit scores of 700+, lower credit scores may be subject to different interest rates and loan terms. Interest rates, loan terms and costs may vary by property type, use and location.

Transaction Closing Costs

The following Closing Cost estimate includes costs associated with both acquiring your new property and establishing a Fideicomiso. Costs listed below are outside of SoBankable's control and can vary by property type, municipal location and property value. The estimated amounts below are for illustrative purposes only. Once you confirm the property you wish to purchase (i.e. type, location and cost) SoBankable's legal counsel will provide you with accurate cost estimate.

1. Notary Fees	USD	CAD	MXN
Notary Fees
Subtotal
2. Taxes and Duties	USD	CAD	MXN
Registration Public Registry
Transfer Tax
Government Closing Documents
Appraisal
Subtotal
3. Trust Fees & Expenses	USD	CAD	MXN
Foreign Affairs Fee & Registration
Banking Trust fees (recurring annually)
Subtotal
4. Legal Costs	USD	CAD	MXN
Escrow
Legal Fees
Subtotal
Total Property Acquisition Costs	USD	CAD	MXN
Grand Total

Total Funds Required

Property purchased in the restricted zone by a foreign individual must be purchased through a Fideicomiso (Bank Trust). The costs associated with acquiring the property and establishing a Bank Trust are incurred regardless whether the property is financed or not (Closing Costs). Following are the total funds required to complete your transaction including the estimated Closing Costs. Closing Costs are itemized on the following page.

	In USD	In CAD	In MXN
Down Payment:
Estimated Closing Costs:
Total Funds:

Loan Details and Disclosure

Fideicomiso Required	Yes	SoBankable only finances residential real estate held in a Fideicomiso (Bank Trust). There are no exceptions permitted.
Loan Term	60 Months	Loan terms of 36 and 60 months are available. The 60 month Term has been used to calculate this quote.
Amortization Period	30 years	The loan will be fully amortized (i.e. repaid in full) upon expiration of the Amortization Period.
Nominal Interest Rate		The NIR or face rate is the interest rate charged for this mortgage financing and is calculated compounded semi-annually not in advance.
Payment Frequency	Monthly	Mortgage payments are due on the first day of each month. The first payment is due the month following the initial mortgage advance.
Currency	Canadian	All mortgages are advanced and repaid in Canadian currency.
Additional Products	n/a	Unlike other lenders, SoBankable mortgages are not contingent on borrowers purchasing multiple financial service or products.
Prepayment	None	SoBankable loans are open to repayment with notice, bonus or penalty, but are subject to any costs associated with discharging its loan.
Maximum Loan Amount		The maximum loan amount currently available is the lesser of 70.0% loan to value or $400,000 USD.
Mortgage Qualification	Required	A Borrower will demonstrate an ability to pay both the SoBankable mortgage payments and the property operating costs based on: 1) their personal income; 2) if applicable, potential rental income from the property, or 3) a combination of both 1 and 2. In instances where a property is strictly an investment property qualification will be based on the property's net operating income.
Eligible Properties		In Mexico SoBankable will finance: single family detached homes, duplex/single family attached homes, row townhouses and apartment style condominiums. For new construction, the property must be 100% complete and ready for occupancy. SoBankable currently does not provide construction financing in Mexico.
Cross Collateralize	Available	Given SoBankable lends in Canada, the U.S. and Mexico, where it is advantageous to the borrower, SoBankable can take mortgage security on more than one property located in any of those three countries.

Loan limits, interest rates, fees and exchange rates are subject to change without notice.