How much do you have to put down on a Condo in Mexico?

Every condominium building in Mexico has different rules and regulations. Some require a down payment of 20%, some require 50%, and others might not even require one at all.

In other countries, such as the United States, it is extremely common to find buyers who put down less than 20% (though they will need to pay extra fees at closing). If a buyer puts down less than 20% on a property in the United States, they may be required to pay private mortgage insurance (PMI) – but this is generally only until the loan balance drops below 80%.

Buying a condo in Mexico is easy and affordable.

Buying a condo in Mexico is easy and affordable! With so many condos to choose from, you’re sure to find something that suits your needs. You don’t need a lot of money to get started either; the Mexican housing market — especially in popular tourist destinations like Riviera Maya — is hot, which means excellent deals are available from sellers who are eager to move their properties.

With help from a Mexican real estate agent, finding the perfect condo for you can be an enjoyable experience.

Click here to get help for free with finding your condo in Mexico. Our Real Estate agents help you find, buy and close on your condo in Riviera Maya Mexico at no cost and at no obligation. Click here to contact them today.

You don’t need a lot of money to get started.

With little negotiation, the deposit can be as low as 20% to 50% of the total price. The common interest rate is 7% up to 10%.

If you can’t pay it all in cash, there are several other financing options available for your Mexico condo purchase. If you have been making mortgage payments for at least 6 months, contact your lender about the possibility of cash-out refinances to pay for your Mexico condo.

Alternately, ask your developer if they offer to finance their properties. Developer loans may come with much better rates than bank loans (6% to 8%). You will also have more flexibility with making payments – anywhere from 6 months to 5 years.

The Mexican housing market is hot.

The Mexican housing market is hot, and it’s expected to stay that way. The reason for this growth is a rapidly expanding economy. Mexico has one of the fastest-growing economies in the world, with real estate values growing about 9 percent per year on average. Many experts predict that Mexico will outperform most other real estate markets in 2019. There are many reasons why you should consider buying property in Mexico now:

Beautiful weather and a relaxed lifestyle
Low cost of living
Modern infrastructure and easy access to services
Ease of travel from the U.S., Canada and Europe

With help from a Mexican Real estate agent, you can find the perfect condo for you.

The first thing you’ll notice about looking for a condo in Mexico is that you’ll have no shortage of options. A quick search will reveal thousands of condos in dozens of cities, and with local real estate agents eager to help “gringos” like yourself, it won’t take long before you’ve found your dream home away from home. But how do you know which real estate agents to trust?

Well, it’s as simple as asking a few questions: does the agent have experience in your desired area? Are they familiar with the market? Do they have a solid understanding of local laws and regulations? These are all standard inquiries, but if an agent hesitates or seems vague, consider moving on. You want someone who knows their stuff so that when you’re ready to make an offer or sign a contract, they can guide you through the process while answering any questions along the way.

Once you find an agent who meets all these expectations—and maybe even has experience working specifically with buyers from your country—you’re well on your way to finding your ideal home. With their help, the right condo could be just around the corner!

There is a gorgeous condo in Mexico waiting for you, and it’s probably not as expensive as you think it would be.

There is a gorgeous condo in Mexico waiting for you, and it’s probably not as expensive as you think it would be. Of course, condo prices vary depending on the size of the property, location, amenities, and more. But if you’re looking at condos priced between $200-$300k USD in prime beach locations, your down payment will likely range from 10-30% of that.