The HSBC Global Technology Center in Pune, India
This will be of interest to our Mexican readers…
HSBC Mexico just announced new mortgage rates for a limited time of only 8.7% fixed for terms of up to 20 years with an 85% LTV. These loans are for new property purchases or to refinance an existing loan. Those wishing to use Infonavit or Fovisste can get their down payments as low as 5% of the appraised value of the property.
While 8.7% may seem high to American and Canadian home buyers in Mexico, this actually represents an historic low for Mexico, where rates are rarely seen below 10%, and when they are seen, they are usually teaser rates for which few can qualify. With down payments as low as 5% (for those who qualify for the Infonavit and Fovisste programs), these loans open a window of opportunity for many Mexican families who might otherwise not be able to afford financing their homes.
These fixed rate loans have no early payoff penalties and come with an insurance package covering unemployment, loss of life and damage to the property, bring a little peace of mind to both the bank and the customer.
If you’ are looking for a home or other property in the Puerto Vallarta area, and you’d like more information about this or other financing options or properties here, please don’t hesitate to leave a comment, or contact us!
