Down payment on a House in Merida

Color Nomad

New member

Member since 04 June 2015

Houston

Color Nomad

09 June 2015 00:34:26

Color Nomad

09 June 2015 00:34:26

Houston

Hello,

I was just wondering how much money would be enough for a down payment on a 2 - 3 bedroom house, somewhat close to town? Nothing fancy. No pool or anything unnecessary like that. Just a nice, clean house for a small family.

I know it's a pretty broad question that would depend on what I'm looking for exactly, but hopefully someone can give me somewhat of an estimate either in pesos or dollars.

Thanks

iarc_26

Member

Member since 11 June 2015

Merida Yucatan

iarc_26

11 June 2015 22:50:57

iarc_26

11 June 2015 22:50:57

Merida Yucatan

For rent? Or sale?
Rent: 450dlls
Sale: 115,000dlls

Sonia Diaz Ortega

15 June 2015 01:08:22

Sonia Diaz Ortega

15 June 2015 01:08:22

Obtaining a mortgage is difficult in Mexico and typically 30% or more down and interest rates about 10%, plus life insurance, property insurance and commission every month. First you need to build up a credit rating in Mexico and show money going into a MX bank account for some time. For a MX bank to loan you money your foreign credit score is not taken into consideration.

Sonia

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