Finance a Home in Puerto Vallarta with the real estate market up on the rise, exploring home financing options is something every buyer interested in purchasing a home in Puerto Vallarta should consider. The Puerto Vallarta real estate follows the rules set by the Mexican government. So whatever is applied in Mexico is also applicable for its beautiful city of Puerto Vallarta.
Over the past few years, many American and Canadian expats have settled permanently in PV. Because of this increased trend, real estate agents are well aware of ways to help their clients get financing for their home. Moreover, all the details that need to be sorted with the government of Mexico are also known by almost every real estate agent working in Puerto Vallarta.
There are three basic home financing options in PV. Read on to get a grip on the ways you can get your home financed.
1. Agente Hipotecario
In other words, mortgage brokers can help you get financing for your home. They serve as a medium between the borrower and the lender. The mortgage arrangement is done by these brokers. The brokers acting in PV are:
- MEXLend- They are one of the well-reputed mortgage brokers in the city.
- Cross-Border Investment.
- Soc Asesores Hipotecarios.
Other than these companies, these brokers can also manage USD loans and Mexican bank loans at the same time. These brokers can also get different loan options at a different rate that will help you secure a loan to finance your home.
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2. Loans Offered by Developers
The developers of PV are looking for places to invest in. They at times finance homes for people and get fixed rates as a return. They require more than 30% deposit and the remaining is to be paid either in fixed intervals or a direct payment.
3. Owner Finance
In order for a person to purchase a property in Puerto Vallarta, a fund needs to be established in the name of the buyer. The owner is named as the primary beneficiary while the firm creating the fund is the secondary beneficiary on that deal. Once the entire payment has been made over time, the trust deed is amended and the entire ownership is solely handed over to the buyer.
The above-mentioned ways of financing a home have been elaborated for you. Once you have figured out a way to get financing, you need to move forward to the next step of finding a suitable real estate agent for yourself.
Your Own Home
Many expats from Canada and America have been moving to Puerto Vallarta and changed their lives forever. They have used the services offered by the companies listed above to become the sole owners of their real estate. Moreover, if you are looking to buy property for investment purpose, you can also look at the same options.
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