All costs need to be taken into account when purchasing a new home or remortgaging, so that you can produce an accurate budget, which will help to ascertain if what you are trying to achieve is the sensible way forward and actually achievable.
The cost of closing any real estate transaction is far more than just the purchase price. And, if you’re also acquiring a new mortgage there are additional expenses you should be aware of and understand. Some of these costs include items such as escrow; legal representation; lender fees; homeowner’s insurance; title insurance; property taxes, and sales taxes pertinent specifically to Mexico property purchases (not for refinancing).
Also, Mexico has its specific ownership laws governing foreigners owning real property and those laws vary depending on the proximity of the property to the ocean. Property ownership in these restricted areas carries additional costs and legal considerations.
Fees to Expect When Buying a House:
There are fees to process your loan application. These fees typically include:
Credit Report Fee
Commercial Appraisal Fee
Document Preparation Fee
Fees related to Buying a Home:
These fees can be quite substantial and generally increase in line with the value and where the property is situated. We will of course use our expertise to guide you through the relevant costs and try to minimize these as far as possible.
Cadastral Appraisal Fee
Wire Transfer Fee
Tax Status Research Fee
Closing Coordination Fee
Loan Origination Fee
Loan Processing Fee
Global Mortgage Company
About Global Mortgage:
Founded in 2017, on the principal of transparent lending, Global Mortgage offers a secure cross-border financing solution to United States citizens seeking to securely own or refinance property in Mexico. Our company is backed by $Billions in capital and is a regulated and audited financial institution in Mexico. Our staff has a combined 200+ years of international lending experience on both sides of the border and always has our clients’ best interest at hand.
Every mortgage written by our company, no matter the loan program, is fully amortized, has a fixed rate, no pre-payment penalty, no balloon payment, and no hidden fees. Global Mortgage employs several full-time attorneys to ensure our work is flawless. We take our commitment to client success seriously; after all, there are no compromises when it concerns quality. reliability, and reputation
We specialize in fixed-rate loans for U.S. Citizens purchasing property in Mexico