Prisma 67 specializes in mortgage services for foreigners, particularly Canadians, interested in buying or refinancing property in Mexico. Eligibility is open to both salaried individuals and self-employed professionals, regardless of whether they own property or have an existing mortgage in their home country. We also cater to those without a Mexican credit history.

Of course, we also attend nationals clients.

To start the pre-approval process, you’ll need to provide the following:

2 pieces of Identification:

Valid passport or Driver's Licence,

Optional and not Necessary, Permanent or Temporary Mexican Residency

Proof of Income:

12 months pay stubs;

2 years tax returns, or financial statements if self-employed.

2 Years of NOA (Notice of Assessment for Canadian and American)

Letter of Employement signed by your Employer

Credit Report with Fico Score:

A credit report from your home country or a credit reference. The minimum score is 689.

Bank Statements:

Typically, the last twelve months of bank statements to verify financial stability.

Property Details:

Information on the property you wish to finance, including purchase agreements or construction plans. Additional documentation may be requested depending on the complexity of your financial profile or the type of loan.

No, you do not need a Mexican credit history to qualify for a mortgage with Prisma 67.

We understand that many of our clients are foreign nationals and instead consider your international credit history, financial standing, and other relevant factors to assess your eligibility.

Prisma 67 prides itself on an efficient pre-approval process. Once all necessary documentation has been submitted, pre-approval typically takes between 48 to 72 hours. This quick turnaround allows you to proceed with confidence in your property search or refinancing plans.

The down payment requirements vary based on the type of mortgage and your financial profile.

Prisma 67 offers flexible down payment options, with some programs requiring as little as 10% down, depending on your eligibility and the property type. This makes it easier for you to enter the Mexican real estate market without significant upfront capital.

As a Foreigner, the Recommandable option is 25% or 30% cashdown

Please don't get caught in the comparison with your home-country. Yes, Mexico is a developing country, but it is also the 12th economy of the world. Financing cost in Mexico will typically include not only the interest, but a lot of financial accessories (i. e. package of insurances) and value added tax (financial products are taxable, so it will also include 16% of value added tax).

When using financing in Mexico, consider that the average cost of a house in Mexico is a lot lower than in developed countries. On the other hand, the average increment of value of houses is a lot larger. For instance, the average price of a house in Mexico increased by 10.9% in 2023, while in the USA was 6.5% and -0.9% in Canada (yes, negative).

Typically, a loan guaranteed by a Mortgage and granted by a Mexican Bank will include the interests (with 16% VAT included), life insurance, job insurance, disability insurance, reconstruction insurance and other protections related to protect your home and some of its contents and accessories.

Mexican banks do not report financing to entities like Equifax (Canada) or Experian (USA). Not even your Mortgage Pre-Approval Process will appear on your home-country Credit Report.

Yes, Prisma 67 offers financing options specifically for land purchases.

Whether you’re buying land as an investment, for future development, or to build your custom home, we provide the necessary funds to secure your plot. We also offer the flexibility to transition from land purchase to construction financing when you’re ready to build.

The CAT (Costo Anual Total), or Total Annual Cost in English, is a financial metric used in Mexico to represent the total cost of a loan or credit product. It is expressed as a percentage and includes not only the interest rate but also other costs associated with the loan, such as fees, commissions, and insurance.

The CAT provides a more comprehensive picture of the real cost of borrowing and is designed to help consumers compare different loan offers more easily. Here's a breakdown of what the CAT typically includes:

Interest Rate: The percentage charged on the loan amount over a period, usually expressed annually.

Commissions: Any fees charged by the lender for processing the loan or providing the service.

Insurance Costs: Some loans require life or property insurance, which is also factored into the CAT.

Other Fees: This might include administrative fees, fees for late payments, or any other costs associated with the loan.

The CAT is mandatory for all financial institutions in Mexico to disclose, making it easier for consumers to understand and compare the true cost of different credit products.

During 2024, the average interest rate for mortgages in Mexico was 10.3%, while the CAT (Annual Total Cost) was between 13 to 15% depending on the bank and credit conditions, remember that this “CAT” it is not only about the interest rate, it will also include insurances, value added tax and possibly bank commissions.

No. Most presales will have a risk that most banks will not take as a collateral, that risk is the lack of a property title to record the mortgage. In most of the cases, developers are usually unable to transfer the ownership of the property as the project is not finished, in addition to this, they use presales to self-finance their project, so they usually require most of the cost of the property during construction. The advantage of a presale is that you could be buying something at a lower price, in change, the disadvantage is that you will not have a title of that investment until the project is finished and has completed the necessary paperwork, this could take years.

To begin your mortgage application, simply schedule an appointment through our automated system on our website.

During this initial consultation, we’ll discuss your needs, explain our services, and guide you on how to submit the necessary documentation via our secure client portal. Our team is available to assist you every step of the way, ensuring a smooth and stress-free application process. We will be with you from the beginning to the signature at the Notary (Notaria Publica).

Prisma 67 offers several unique benefits:

Specialization in Foreigners: We understand the specific needs and challenges faced by foreigners investing in Mexico. One of our Senior Broker, Alain Bessette, is the first and only Canadian to have his Mexican Mortgage Broker Licence in all Mexico. He worked in that industry for several years in Canada, so that gives Prisma a big advantage by understanding the foreign investors.

Quick Pre-Approval: Our efficient pre-approval process helps you move forward quickly with your property plans.

24/7 Customer Support: Our AI Assistant, Maria, provides round-the-clock support, answering your questions and guiding you through the process.

Flexible Financing Solutions: We offer customized mortgage solutions that cater to your individual circumstances, including flexible down payments and financing for a wide range of property types.

Comprehensive Support: From pre-approval to closing, we offer end-to-end support, ensuring a seamless and hassle-free experience.

Yes, there are standard processing fees associated with obtaining a mortgage. These include appraisal fees and closing costs. When the property is in a "Restricted Area" for example within 50km form the ocean or the border, Foreigners need to open a "Fideicomiso" to be able to buy a property. This Fideocomiso got a fee. Usually, the bank who will finance your property works with a "fiduciario", so please, do not start any process before getting your Pre-Approval to know the conditions of your future mortgage. We do not want you to have extra charges.

Prisma 67 is committed to transparency, and all fees will be clearly outlined during the application process. There are no hidden charges, and we ensure that you are fully informed of all costs involved. The bank pays us, not you.

Prisma 67 provides comprehensive support throughout the property purchasing process:

Pre-Approval: We help you determine your budget and get pre-approved for a mortgage.

Property Search: We collaborate with reputable real estate agents and developers to help you find the perfect property.

Financing: We structure a mortgage that fits your financial situation and guide you through the entire financing process.

Closing: We work with legal professionals and notaries to ensure all documents are in order and the transaction is completed smoothly.

Post-Purchase Support: After your purchase, we offer ongoing support, including refinancing options and advice on property management

If you decide to sell your property before your mortgage is fully paid off, Prisma 67 will assist you in managing the sale and settling the outstanding mortgage balance. We offer options such as refinancing or loan switching to help you manage your financial commitments effectively. Our team will guide you through the process, ensuring that all legal and financial obligations are met.

It's possible to have some penalties for breaking your contract, but normally, after 48 months, you can liquidate your mortgage without any penalties.