By closing the first US-style mortgage in San Miguel de Allende, Finance North America has expanded Americans’ ability to use US funding sources for Mexican property investments.
(PRWEB) July 6, 2006 -- By closing the first US-style mortgage in San Miguel de Allende, Finance North America has expanded Americans’ ability to use US funding sources for Mexican property investments.
“Up until now, American investment in Mexico has been stunted by regulations guiding funds from Mexican lenders. We’ve effectively eliminated those cross-border barriers,” says company president Russ Schreier. Since 2005, FNA has been the single largest source of cross-border mortgage loans for Americans.
“Every procedure was executed in a very accurate and professional way. Finance North America is the best home loan option in San Miguel de Allende,” reports José Urbina of Villa de San Miguel Realty.
With Mexican purchases mostly cash-based before, vacation homes were beyond most Americans’ imaginations. Schreier and his associates combined 25 years of financial experience with knowledge of the Mexican Fideicomiso (bank trust) system to target American preferences for carrying debt when owning property.
Mexican Peso-based loans tend towards higher interest rates than US loans, tie to inflation indexes, and oftentimes cause negative amortization. Potential investors frown on negative growth.
“Americans finance everything – from homes to cars to educations,” observes Schreier. He saw huge markets with available down payments if US-based funding could be provided legally and economically.
Mexican property values are exploding, for several reasons:
- Value – Unlike many American markets, Mexican property is greatly undervalued. Dollars stretch further for everything in the home.
- Demographics – Baby boomers have started retiring to warmer, lower-maintenance locales.
- Trade – US/Mexican trade has tripled since the 1994 NAFTA agreement.
- Improved Travel – Better roads and increased scheduled and charter flights make travel to Mexican destinations MUCH easier.
FNA’s financial specialists offer purchase, refinance and construction lending. Loans amounts range from $100,000 to $5,000,000, have fixed/adjustable rates, and payment terms up to 30 years. Additionally beneficial is that interest paid on Mexico home loans is often tax deductible to US Citizens.
One of the most beautiful Mexican colonial cities, San Miguel de Allende has long been among the top five Mexican destinations. Perfect year-round weather combines with picturesque cobblestones streets and architecture to offer a delightful, lively mix of Mexican folk traditions, fiestas and religious celebrations. A shoppers dream, Mexican handicrafts, boutiques, art galleries, and furniture/home décor shopping opportunities stretch as far as the eye can see.
Finance North America can be found online at: www.FinanceNorthAmerica.com, or by calling toll free from US & Canada to 1-866-Yes-4-Mex (1-866-937-4639), or from Mexico 001-858-481-4871.
###
Trackback URL: http://www.prweb.com/pingpr.php/Q3Jhcy1Ib3JyLUxvdmUtUGlnZy1JbnNlLVplcm8=
|
