As Mexico’s leading residential mortgage brokerage, MEXLend has closed a number of home loans in the Los Cabos area throughout the years. So when Hurricane Odile made landfall near Cabo San Lucas on the night of September 14, 2014 as a powerful Category 3 hurricane causing widespread damage to homes and businesses across the southern half of Baja California Sur, they wanted to contribute to the resort city’s rebuilding efforts.
MEXLend reached out to lending partner, Alaska Financial LLC President, Tobias Preston, who has 25 years’ experience in funding private loans and had already been working exclusively with them to provide innovative loan products for some time. “We have been extremely concerned about our friends and family in Los Cabos, and wanted to be able to find a way to offer our help,” said David Schwendeman, President of Mexlend. “We were thrilled and heartened when Alaska Financial agreed, and together we have come up with a customized loan program to help both homeowners and businesses recover and rebuild.”
“As we strengthen our commitment to Mexico, we are happy to offer a much needed resource in this difficult time,” said Alaska Financial President, Tobias Preston.
The loans will cover up to 65% of the appraised value of the finished home or building. And, since these loans utilize the Mexican property for collateral, MEXLend is in the unique position of being the only mortgage broker that can offer people of all nationalities the opportunity to obtain this funding, as long as they can provide the necessary documentation.
This type of loan has never been available in Mexico before. In addition to individuals, these loans are also available for businesses and corporate entities.
And even better news, these loans can close fast! Once MEXLend has a complete file, borrowers in need will receive an approval within hours of submission and close within weeks – an important factor when time is of the essence.
These loans will only be available for the 60 days, so apply quickly.
