MORTGAGE COSTS IN MEXICO
All costs need to be taken into account when purchasing a new home or re-mortgaging, so that you can produce an accurate budget, which will help to ascertain if what you are trying to achieve is the sensible way forward and actually achievable.
Around a real estate transaction, there are several ordinary expenses that must be disbursed, mainly by the buyer, in order for the transaction to be successful and compliant with the legal regulations applicable. Your home mortgage is more than the purchase price. It also includes things like escrow, homeowner’s insurance and property taxes, and private mortgage insurance. Also, Mexico has its specific rules for foreigners buying real state depending on the location of the property.