SoBankable currently lends in key metropolitan areas throughout Mexico, including Baja California, Baja California Sur, Colima, Guerrero, Guanajuato, Jalisco, Michoacán, Nayarit, Oaxaca, Quintana Roo, Sinaloa, and Yucatán.
SoBankable currently offers fixed term residential mortgage financing in Mexico.
A Foreign National is a non-citizen who is a resident alien able to live and work in a country where they wish to purchase real estate. Domestic lenders may provide mortgage financing to these resident aliens because they have verifiable income and credit histories.
A Non-Resident Foreign National is a non-citizen or resident alien of the country in which they wish to purchase real estate (i.e. their permanent residence is in another country). Domestic lenders rarely if ever provide mortgage financing to these non-resident aliens, because they have no verifiable domestic income or credit histories.
SoBankable finances single family detached homes, apartment-style condos, townhouses, 2-4 unit residential properties, condotels, and other properties on a case-by-case basis
The time associated with applying for and receiving mortgage funding is not only limited to the availability of the lender to process the mortgage application, but it is constrained by the ability to complete third party due diligence such as, property appraisals, site inspections (if required), income and other related financial verifications. Notwithstanding, in Mexico the typical residential mortgage takes between 25 to 45 days to complete.
Yes, SoBankable will prequalify you for the maximum loan amount and depending on your available down payment, the maximum loan amount plus down payment will determine the maximum property value we can purchase. Interest rates are subject to change without notice and can only be locked with a formal commitment letter.
Apply online through our direct application portal, call us directly between 8:30 am-5:00 pm MST at:
A typical mortgage submission will include a completed loan application, credit report (obtained by SoBankable), proof of income, satisfactory appraisal, copy of an executed Offer To Purchase (if applicable) and other documents as may be required depending on the property’s type and use.
Currently, all loans are processed and underwritten in SoBankable’s Edmonton, Alberta, Canada office.
