Overseas Mortgages · Mexico
Mexico Mortgages for Canadians & Americans
Cross-border financing for U.S. and Canadian buyers in Tulum, Playa del Carmen, Los Cabos, Puerto Vallarta, San Miguel de Allende and Mexico City. USD- and MXN-denominated lender solutions — Canadian applications powered by Upscore, U.S. applications powered by Moxi.
Mexico overseas mortgage guide written and reviewed by the Citadel Mortgages licensed brokerage team.
Licensed Canadian mortgage brokerage — FSRA 12993 (ON), FCAA 509446 (SK) and licensed across 10 provinces & territories.Verify licensing
Max LTV (non-resident)
50–65%
Typical term
10–25 years
Currency
USD or MXN
Coastal ownership
Fideicomiso (bank trust)
Overseas Mortgages in Mexico
Mexico is the largest foreign-buyer market in Latin America for both Canadian and American clients — and the only Global Property Mortgages destination where we run two parallel application channels: the Upscore platform for Canadian buyers, and Moxi (partners.moxi.global) for U.S. buyers, both feeding our cross-border lender network.
Foreign nationals can own property anywhere in Mexico, but in the 'Restricted Zone' (within 50 km of the coast or 100 km of an international border) ownership must be held through a fideicomiso — a 50-year renewable bank trust regulated by the Mexican Foreign Investment Law (Ley de Inversión Extranjera). Outside the Restricted Zone (e.g. Mexico City, San Miguel de Allende, Querétaro) ownership is direct in fee simple.
Our network finances Canadians and Americans through USD-denominated cross-border mortgages (50–65% LTV, 10–25 year terms, fixed and variable products) and select MXN options where the buyer has Mexican income. We coordinate the fideicomiso setup, RFC (Mexican tax ID), notario público closing, and Banxico-required CURP/proof-of-funds documentation end-to-end.
Global Property Mortgages is a brand of Citadel Mortgages, a fully licensed Canadian mortgage brokerage. Mexico applications are powered by Citadel Mortgages in Canada and Simply Approved Mortgages in the US based on the Canadian or US lender — the cross-border mortgage platform built for international buyers.
Why buy and finance property in Mexico
The case for Mexico from a Canadian or American buyer's perspective.
Why Mexico for North Americans
Direct flights from 30+ U.S. and Canadian cities, USD-friendly economy in tourist zones, mature title insurance market (Stewart, First American), and the world's #1 destination for U.S. expat retirees (~1.6M Americans per U.S. State Department 2024 estimates). No restrictions on rental income repatriation.
Why finance instead of paying cash
USD-denominated cross-border mortgages let you preserve home-country liquidity and deploy leverage on hard assets earning 6–12% gross rental yields in resort zones. Closing costs in Mexico run 6–9% of purchase price, so leverage materially improves cash-on-cash returns vs all-cash.
Why use a specialist broker
Mexico has no equivalent of CMHC or Fannie Mae for non-residents — the lender market is a small group of specialist cross-border banks and private lenders (MexLend, Global Mortgage, Moxi partners). Rates and LTVs vary 200+ bps between lenders for identical files. We tender to all of them simultaneously.
In the coastal restricted zone, foreign buyers hold title through a bank fideicomiso (trust) — it's normal and safe, but it changes how the file is structured. We place Mexico deals through Citadel Mortgages in Canada or Simply Approved Mortgages in the U.S. depending on which side your income and lender sit.
— Citadel Mortgages licensed brokerage team, drawn from live experience placing overseas mortgages for Canadian & American buyers.
Get weekly overseas mortgage intel
Join Canadian and American buyers who follow lender moves, country rule changes, and get one tactical tip every week. Unsubscribe anytime.
Best locations to buy in Mexico
Where Canadian and American buyers are placing capital — and why.
Tulum & Riviera Maya
Quintana RooMexico's highest-growth resort market — international airport (TQO) opened Dec 2023, condo and villa supply still expanding, dollarized short-let yields among the highest in the Americas.
Indicative pricing: USD $2,500–$5,500/m² (Tulum centro & beach corridor)
Tulum & Riviera Maya mortgage guide
Playa del Carmen
Quintana RooMore mature, higher-liquidity sibling to Tulum — Quinta Avenida and Playacar drive year-round rental demand from a 12M+ annual visitor base (Cancun + Riviera Maya).
Indicative pricing: USD $2,200–$4,500/m²
Playa del Carmen mortgage guide
Los Cabos
Baja California SurPacific-coast luxury anchor (Cabo San Lucas, San José del Cabo, Pedregal, Palmilla) — highest average transaction value in Mexico, ultra-high-net-worth American and Canadian buyer base.
Indicative pricing: USD $4,000–$10,000/m² (oceanfront)
Los Cabos mortgage guide
Puerto Vallarta
JaliscoBanderas Bay — Mexico's most established expat coastal market, especially for Canadian and LGBTQ+ buyers in Zona Romántica and Conchas Chinas. Direct flights from Vancouver, Calgary, Toronto.
Indicative pricing: USD $2,500–$5,500/m²
Puerto Vallarta mortgage guide
San Miguel de Allende
GuanajuatoUNESCO World Heritage colonial city, year-round 22°C average climate, deepest expat community in interior Mexico (~12,000 U.S. and Canadian residents). Direct fee-simple ownership — no fideicomiso required.
Indicative pricing: USD $2,800–$6,000/m² (Centro Histórico)
San Miguel de Allende mortgage guide
Mexico City (CDMX)
Polanco, Condesa, Roma, CoyoacánLatin America's largest economy by metro GDP, direct fee-simple ownership for foreigners, fastest-growing luxury rental market in the Americas (Roma/Condesa rents +40% since 2020 per SocietyHome data).
Indicative pricing: USD $2,500–$5,800/m² (Polanco/Condesa prime)
Mexico City (CDMX) mortgage guide
Mexico market and tourism stats
Sourced from official government, central bank and tourism authorities.
International tourist arrivals (2025)
47.8 million tourists (record, +6.1% YoY)
International tourism receipts (2025)
USD $35.0 billion (record)
Banxico overnight rate
6.50% (eff. 8 May 2026) — MXN mortgage reference
Source: Banco de México monetary policy
Tourism
Mexico set a tourism record in 2025 with 47.8 million international tourists and USD $35.0B in receipts per INEGI and Banxico — making it one of the world's most-visited countries and the #1 international destination for both U.S. and Canadian travellers.
Food & culture
Mexican cuisine is UNESCO Intangible Cultural Heritage (2010). The country holds 31+ Michelin-starred restaurants (2024 Mexico Guide launch — Pujol, Quintonil, Sud 777), 14 protected mezcal/tequila denominaciones de origen, and the world's most diverse corn agriculture (60+ native landraces).
Climate
Tropical Pacific and Caribbean coasts (Cabo, Vallarta, Cancún, Tulum) average 26–29°C year-round; central highland cities (CDMX, San Miguel, Querétaro) sit at 1,800–2,200m elevation with spring-like 18–24°C climates and low humidity all year.
Safety
Travel risk is highly regional — Yucatán state (Mérida) and Querétaro consistently rank as Mexico's safest, alongside resort zones with dedicated tourist police (Cancún Hotel Zone, Riviera Maya, Los Cabos, Puerto Vallarta). U.S. State Department and Global Affairs Canada advisories should be checked at the state level before any purchase.
Live Mexico exchange rates
Daily Mexican Peso (MXN) reference rates for Canadian and American buyers — sourced live from the European Central Bank and refreshed automatically every business day.
Live MXN rates are momentarily unavailable. View current Mexican Peso (MXN) reference rates at the European Central Bank .
Mexico Mortgage Calculator
Estimate Canadian-dollar mortgage payments on a Mexico property. Results emailed to you on request.
How the Mexico mortgage calculator works
This free calculator estimates the monthly payment on a Mexico property mortgage for Canadian and American buyers. Enter the property price, your down payment, the interest rate and the amortization period to see your estimated monthly payment, loan amount and total interest.
It uses the standard amortizing-mortgage formula: M = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where M is the monthly payment, P is the loan principal, r is the monthly interest rate (annual rate ÷ 12) and n is the number of monthly payments (years × 12).
Worked example: on a $500,000 CAD property with a 30% down payment ($350,000 loan) at an 11.90% annual rate over 30 years, the estimated monthly payment is about $3,565 CAD. Canadian residents typically put 30% down; the US-dollar program through Simply Approved Mortgages requires 35% down.
Results are indicative only and depend on the lender, currency and final approved rate. Confirm exact figures with your broker before committing.
Two Mexico mortgage programs — pick the one for your citizenship
Canadian and U.S. residents borrow in Canadian dollars through our Canadian-funded program. Americans also have the option to borrow in U.S. dollars through MoXi (Simply Approved Mortgages), our U.S. lending partner.
For Canadian & U.S. buyers
Mexico mortgage in CAD
Finance residential property anywhere in Mexico in Canadian dollars — no currency exchange volatility. Purchase or refinance, with 30-year amortization and rental income accepted to help you qualify.
Offered through Citadel Mortgages · Funded through our partner Citadel Mortgages (Canada).
Key highlights
- Mortgage in Canadian dollars (no FX risk)
- Loan amounts up to $1,000,000 CAD
- 30-year amortization available
- Minimum 30% down payment
- No age restrictions
- Rental income accepted to qualify
- Flexible income sources accepted
- No mortgage or life insurance required
- No prepayment penalties
- Conditional approval in 24 hours; closing in 4–7 weeks
Borrower eligibility
| Residency | Canadian or U.S. resident |
|---|---|
| Credit score | Minimum 660 Beacon score |
| TDS / DTI | Maximum 50% |
| Loan amount | Up to $1,000,000 CAD |
| Down payment | Minimum 30% |
| Income | Valid proof of income; rental income accepted |
| Property type | Residential only — homes, condos, townhouses. No commercial, mixed-use or agricultural. Pre-sale condos allowed (title must be finalized before funding). |
Program details
Fixed rate (starting)
11.90%
Term
1–5 years
Amortization
30 years
Lender fee
3% (min $4,000 CAD)
Legal fee
$4,000 + GST ($5,000 if shared closing lawyer)
Funding timeline
4–7 weeks
Documents required
- 2 pieces of ID for each applicant (front and back)
- Salaried income — two recent pay stubs covering the last 30 days for all applicants
- Salaried income — Letter of Employment (LOE) dated within 30 days of the loan application
- Note: you cannot be on probation when applying. If on maternity leave, your LOE must include a confirmed return-to-work date for the income to qualify
- Self-employed — T1 General forms for the past two years for all applicants
- Self-employed — Federal tax returns (Notice of Assessment / NOA) with all schedules for the past two years
- Self-employed — 12 months of business bank statements
- Self-employed (Sole Proprietor) — Master Business Licence, Professional Licence (if applicable), HST/GST number (if applicable), and Statement of Account (SOA) confirming no taxes owing
- Self-employed (Corporation) — Articles of Incorporation and two years of business financial statements
- Self-employed — contracts and/or business invoices may be requested and can help strengthen your approval
- Rental income — lease agreement and 12 months of bank statements showing rental payment history
- Rental income (Airbnb / short-term rental) — last 12 months of Airbnb rent roll and 12 months of bank statements
- Rental income (new rental / no history) — market rent will be used to qualify
- All rental income must be claimed on taxes to be used for qualification
Full mortgage document checklist
Properties in the Restricted Zone (within 50 km of coast or 100 km of an international border) are held through a Guaranty Bank Trust (fideicomiso de garantía). Rates current as of program guideline; verify with your broker prior to commitment.
For American buyers
Mexico mortgage in USD
Fully amortizing fixed-rate USD mortgages on Mexican residential property, indexed off the 3-Year U.S. Treasury. Purchase or refinance, with escrow, title and appraisal handled locally in Mexico.
Offered through Simply Approved Mortgages · Funded through our partner MoXi by Simply Approved Mortgages (USA).
Key highlights
- Properties anywhere in Mexico — purchase or refinance
- Fully amortizing fixed-rate USD loans
- Loan amounts $250,000 – $2,500,000 USD
- Maximum LTV 65% (35% down payment)
- Terms of 15, 20, 25 or 30 years
- Single-family, condo, townhome and 1–4 unit residential
- Escrow, title and appraisal handled locally in Mexico
- Interest rate based on the 3-Year U.S. Treasury plus margin
- Rate locked 48 hours prior to closing
- Estimated closing timeline 60–120 days
Borrower eligibility
| Borrower | U.S. citizen or U.S. permanent resident |
|---|---|
| Credit score | Minimum 700 FICO |
| DTI | 38% – 41% (exceptions may apply) |
| Income | Full doc or alt-doc; 2 years personal tax returns always required |
| Loan amount | $250,000 – $2,500,000 USD |
| Min property value | $350,000 USD |
| Max LTV | 65% (35% down) |
| Property | Single-family, condo / townhome, 1–4 unit residential |
Rate & cost structure
Index
3-Year U.S. Treasury + margin
Margin
Set by credit score, LTV and loan size
Rate lock
48 hours prior to closing
Closing costs
8% – 12% of purchase price
MoXi origination
3% on loans ≥ $250k (+0.75% under $250k)
Underwriting / processing
$2,000 underwriting + $875 processing/app
Pre-approval fees
$199 application + $650 pre-underwriting (credited at approval)
Documents required
- U.S. passport (color copy)
- Driver's license or state ID (front and back)
- 60 days of bank statements (all pages)
- Recent quarterly investment / retirement statements
- 2 years personal tax returns (all pages and schedules)
- Employed: 30 days pay stubs + 2 years W-2s
- Self-employed: 2 years K-1s, 2 years business returns (≥25% ownership), 12 months business bank statements, current business license, Articles of Organization
- Rental income (Airbnb / short-term rental): last 12 months of Airbnb rent roll and 12 months of bank statements
- Rental income (new rental / no history): market rent will be used to qualify
- Non-employment income: Social Security / pension award letters, other benefit documentation
- Letters of explanation for credit inquiries, new debts or derogatory credit
- Divorce / support agreements and bankruptcy discharge papers (if applicable)
Full mortgage document checklist
MoXi® minimum property value $350,000 USD. Once approved with an accepted offer, an ICD call covers conditions and due-diligence (ICD) fees for property and title services in Mexico. All borrower documents are uploaded via a secure portal.
How mexico mortgages work
1. Channel & pre-qualification
Canadian clients apply through Upscore; U.S. clients apply through Moxi (partners.moxi.global). Both feed our cross-border lender network. We assess income, assets, target state and whether the property is inside the Restricted Zone.
2. Lender matching
We tender your file to specialist cross-border lenders (USD-denominated) and, where applicable, Mexican retail banks for MXN options. Expect 2–4 indicative offers within 5–7 business days.
3. Fideicomiso & RFC setup
For coastal/border properties we instruct a Mexican bank fiduciario (BBVA, Banorte, Scotiabank México) to set up the 50-year renewable trust. We also coordinate your RFC tax ID and CURP if required.
4. Notario público closing
Mexico requires every property transfer to be executed before a notario público (a senior government-appointed legal officer). The notario prepares the escritura, verifies title at the Registro Público de la Propiedad, and registers the mortgage.
Eligibility for Mexico
Typical requirements for Canadian and American buyers financing property in Mexico.
| Age | 21–75 at maturity (most cross-border lenders) |
|---|---|
| Income | Documented North American income; debt-to-income typically capped at 40–45% |
| Deposit | 35–50% of purchase price plus 6–9% for closing costs (notario, ISAI/acquisition tax, fideicomiso setup, registration) |
| Property | Residential — completed condos, houses, and select pre-construction with reputable developers. Raw land and ejido (communal) land typically not financed. |
| Citizenship | Canadian and U.S. citizens accepted by specialist cross-border lenders; permanent residents also eligible |
Documents you'll need
Have these ready before your application to keep timing tight.
- Passport and proof of address
- Last 2 years of tax returns (T1 / 1040)
- Last 3 months of bank and investment statements
- Employment letter and recent pay stubs (or business financials for self-employed)
- Credit report (Equifax / TransUnion / Experian)
- Purchase contract (oferta de compra or contrato de promesa)
- RFC (Mexican tax ID) — we arrange through SAT
- CURP and proof-of-funds disclosure required under Mexican anti-money-laundering rules
Process timeline
Typical end-to-end timing from pre-approval to funded mortgage.
Week 1
Pre-qualification through Upscore (Canada) or Moxi (USA); lender shortlist and indicative offers.
Week 2–4
Full underwriting, Mexican property appraisal (avalúo), title search at the Registro Público de la Propiedad.
Week 5–7
Fideicomiso permit from SRE (Secretaría de Relaciones Exteriores) for coastal/border properties — typically 15–25 business days.
Week 8–10
Notario público signing, mortgage registration, and funding in USD or MXN.
Ready to start your Mexico mortgage application?
Get pre-qualified in minutes through Citadel Mortgages (Canada) or Simply Approved Mortgages (US) — no impact on your credit score.
Official Mexico sources
For independent verification, refer to these official regulators and authorities:
- Banco de México (Banxico)
- INEGI — Mexican national statistics
- SAT — Mexican tax authority
- SRE — Secretaría de Relaciones Exteriores (fideicomiso permits)
- Sociedad Hipotecaria Federal (SHF)
- SECTUR — Mexican Ministry of Tourism
- Moxi — official U.S. cross-border apply partner
- Citadel Mortgages — licensed Canadian brokerage
- Simply Approved Mortgages — US cross-border lending partner
Mexico mortgage FAQs
Common questions from Canadian and American buyers financing property in Mexico.
Can a Canadian or American legally own property in Mexico?
Yes. Foreigners can own property anywhere in Mexico. Outside the Restricted Zone (50 km from any coast, 100 km from any border), ownership is direct in fee simple. Inside the Restricted Zone, ownership is held through a fideicomiso — a 50-year renewable bank trust in which the foreigner is the sole beneficiary with full rights to use, rent, mortgage, sell and bequeath the property.
What is a fideicomiso and how much does it cost?
A fideicomiso is a bank trust required for foreign ownership of property in Mexico's Restricted Zone. Set-up runs roughly USD $1,500–$2,500 with annual maintenance fees of USD $500–$800. The trust is renewable indefinitely in 50-year increments and is fully bankable as mortgage collateral by our cross-border lender network.
Why does Mexico have two apply links — Upscore and Moxi?
We maintain separate cross-border channels for Canadian and U.S. buyers. Canadians apply through Upscore (our official Canadian platform); Americans apply through Moxi at partners.moxi.global/simply_approved, our U.S. cross-border partner specialised in USD-denominated Mexico mortgages. Both feed the same lender network.
What are typical Mexico mortgage rates in 2026 for Canadians and Americans?
USD-denominated cross-border mortgages currently price in the 8.5%–11.5% range depending on LTV, term and lender. MXN mortgages (for buyers with Mexican income) follow Banxico's overnight rate (6.50% as of May 2026) plus 250–500 bps. Always confirm current rates with us before budgeting.
What are total closing costs in Mexico?
Budget 6–9% of purchase price for the ISAI (acquisition tax, 2–4.5% depending on state), notario público fees (~1.5%), Registro Público registration (~0.5%), fideicomiso setup if applicable (~$1,500–$2,500 USD), title insurance, and translation/legal fees.
Can I rent the property on Airbnb or Vrbo?
Yes — short-term rental is legal nationwide, but municipal registration and lodging-tax collection (ISH, typically 3% in Quintana Roo and Baja California Sur) apply. Several condo complexes in Tulum, Playa del Carmen and Los Cabos have introduced HOA-level rental caps; we always verify the régimen condominial rules before close.
Do I need to be in Mexico to close on the mortgage?
No. Most cross-border closings are executed by power of attorney (poder notarial) granted to a Mexican lawyer, then ratified at a Mexican consulate in Canada or the U.S. You can also fly in for the notario signing — most clients in Riviera Maya and Los Cabos do this.
What's the difference between buying in Mexico vs other warm-weather options like Spain or Portugal?
Mexico offers materially higher gross rental yields (6–12% in resort zones vs 3–5% in Spain/Portugal), USD-friendly pricing, and direct flight access from across North America. Trade-offs are: regional safety variability, mandatory fideicomiso on the coasts, and a smaller pool of cross-border lenders.
Quick answers — Mexico mortgages
Clear, straightforward answers to the questions Canadian and American buyers ask most about financing a home in Mexico.
- Can Americans get a mortgage in Mexico?
- Yes. U.S. citizens apply through Moxi at partners dot moxi dot global slash simply approved. Our cross-border lender network offers USD-denominated mortgages typically up to 65 percent loan-to-value.
- Can Canadians get a mortgage in Mexico?
- Yes. Canadian buyers apply through Upscore, our official cross-border mortgage platform. Most mortgages are USD-denominated with terms of 10 to 25 years.
- How much deposit do I need to buy a house in Mexico?
- Plan on 35 to 50 percent of the purchase price as a deposit, plus another 6 to 9 percent for closing costs including the notario, acquisition tax, and fideicomiso setup on coastal properties.
- What is a fideicomiso?
- A fideicomiso is a 50-year renewable bank trust required for foreign ownership of property within 50 kilometres of any Mexican coast or 100 kilometres of any border. The foreigner is the sole beneficiary with full ownership rights.
A brand of Citadel Mortgages · US lending via Simply Approved Mortgages
Global Property Mortgages is a brand of Citadel Mortgages, a licensed Canadian mortgage brokerage. Mexico financing is arranged through Citadel Mortgages (Canada) or Simply Approved Mortgages (US) depending on your lender preference.
More markets
Other countries we cover
Compare overseas mortgage programs across every country in our international lender network.
Finance your Mexico property with Global Property Mortgages
Free, no-obligation review. We'll match you with the right Mexico lender for your profile — through Citadel Mortgages (Canada) or Simply Approved Mortgages (US).
