The ABC's of Home Purchasing-Playa del Carmen Mortgage Watch

The continuous changes in the mortgage industry, and troubled real estate market in the USA, can only cause worry to those that most commonly draw HELOC Mortgage Loans (Home Equity Lines of Credit) on their properties in the USA to purchase property in Mexico.How do you solve this problem? Here are a couple of things you might want to consider.

First, you can try and practice the ABC's of home purchasing, and second you can try getting a Mortgage Loan in Mexico (a US Dollar Loan) that will not reflect in your USA or Canadian credit report and therefore, will not affect your purchasing power in either country.

Here is how to do it:

1. The ABC's of Home Purchasing. If you are purchasing a home in Mexico and would like to consider obtaining a mortgage loan for that purpose, the first thing you need to do is the following;

(A) - Apply for a mortgage loan. Applying for a mortgage loan prior to purchasing a property will permit you to know exactly what amount you may be able use to buy a piece of real estate and under what mortgae loan terms. Getting a loan, if properly handled, gives you an added value to your purchase since you will not be using your home equity to obtain the funds required for the purchase of your dream home.

(B) - Bid on a property. This gives you negotiating power when presenting your offer, if you already have a pre-approval when you negotiate for the price of the property. Having a pre-approval can insure you better terms at the negotiating table since the seller will know you are a qualified buyer and he/she will be able to fulfill the sales purchasing contract you are entering into.

(C) - Close on the property. When closing on the property through the process of a mortgage loan, the purchaser can rest assure all the property information and documentation has been throughly analyzed and reviewed by both the Notario closing on the deal and the bank's legal department.

2. When a mortgage loan that will not reflect on your credit report either in the USA or Canada and thus not affecting your purchasing power in either case.

This can be accomplished by virtue of getting a Mexican home mortgage purchasing loan. But ..."I do not want to pay those high interest rates offered by the Mexican banking home mortgage industry"... you may say. Well, you do not have to do that since you could get a competitive USD mortgage loan in Mexico through a Mexican banking instutution. Contact us for further info.

Thus, knowing the ABC's of home purchasing in Mexico can be of great assistance to anyone searching for a home in Mexico. You must get professional advice when doing this. Contact your real estate broker or contact a professional mortgage broker doing mortgage loans in Mexico for the best advice possible.

This article has been provided by Enrique (Henry) Saldana, Mexico Mortgage Solutions Cel: (984) 116-8528 or This email address is being protected from spam bots, you need Javascript enabled to view it . Please contact us for furhter information.

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