You many have heard that MEXLend is the premier mortgage broker in Mexico, but do you know exactly what it is that a mortgage broker does? If you have questions, you’re not alone, so we’d like to offer a quick explanation about what we do and how we help you secure mortgages in Mexico.
A mortgage broker is essentially a middleman between the borrower and the bank or mortgage lender. We work directly with both you, the consumer, and the lending institution to help you to qualify for a mortgage, whether it be to purchase a home, renovate or refinance a property.
A mortgage broker will help you assess what you can really afford by gathering important information about your income, assets, and employment history and credit reports. This allows us to assess the loan amount you can reasonably carry, your ability to obtain financing and what type of loan will work best for you.
A mortgage broker will also have access to numerous lending institutions and banks and is therefore able to shop around for the best possible rate and type of mortgage for your needs. For example, at MEXLend we are able to offer US Dollar loans in addition to pesos loans, something that a potential buyer would not be able to secure by dealing directly with a Mexican bank.
Finally, a mortgage broker does all the legwork for you, dealing with all the paperwork and communications with the lending institution. For our foreign clients, not needing to spend hours lining up to deal with Mexican banks and lenders in Spanish can be a huge stress reliever.
If you have more questions about how mortgage brokers in Mexico work, please feel free to contact us for more information.
Click here to learn more about home financing in Mexico from MEXLend.
