Mortgage loans through alliances between Mexican banks and their US counterparts are now becoming more available for real estate purchases in Mexico. Some banks offer loans for purchase, re-finance and construction. The Mexican banks processing these loans must handle funds through escrow. After submission of documents and supporting information the settlement company ® is now approved as Closing Agent and escrow holder for loans made through BBVA Bancomer bank. At present these loans are funded by US Compass Bank. Thus, if you are making a loan through this bank, no matter where in Mexico the property is located, the settlement company ® can handle both the closing coordination and the escrow.
Courtesy of John Glaab. For further info please contact Mr. Glaab at john.glaab@settlement-co.com
Asociacion Mexicana de Profesionales Inmobiliarios de La Paz A.C.
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