MORTGAGE UPDATES

APRIL 15, 2011

Interest rates are now as low as 5.5%!  Do I have your attention?  This gives you even more reason to discuss financing with ALL of your prospective buyers.  Rates have dropped on our adjustable rate mortgages by 3/4% on our 3 yr fixed programs, and 1/2% on our 5 yr fixed programs (remainder of term after the fixed portion is adjustable.  The 3 yr and 5 year adjustable loans are available in total terms of 15 years, 20 years, 25 years, and 30 years).  Our fixed rate mortgages have dropped 3/4% and are fully fixed for 15, 20, 25 and 30 year terms. 
 
It is worth repeating -  interest rates are now as low as 5.25%
 
Interest is deductible for US buyers (and may be for Canadians in certain situations).
 
The complete rate matrix is on my website www.mortgagesinmexico.com and click on the "Interest Rates" tab.  While you're on the site, check out some of the other information we have there, including the "Deal Breakers in Mexico" tab that is a list of specific reasons in which mortgage financing in Mexico is not allowed.  It is best to know these "show-stoppers" up front so we're not wasting anyone's time.  As you can see, these relate to very specific instances that don't apply to most of our buyers, so most of the buyers you talk to will be able to get USDollar mortgage financing and use the Mexico property as the collateral for their loan.  The existing equity in their primary residence remains untouched and not at risk.
 
 
We have been anticipating these drops in interest rates for several weeks, but have not been able to announce them to you until they were officially announced this evening (Tuesday). 

Written By: "The Mexico Mortgage Man"
Doug Jones, President (NMLS Lic# 139824)