Mortgage Rates in Mexico

The current lending interest rate in Mexico is about 11.230% APR.

Last Updated 8/23/2023

This lending rate, calculated daily by the Bank of Mexico, tracks closely to a national average mortgage rate for Mexico. This data is updated frequently to reflect current mortgage rates in the country.

View our guide to getting a mortgage in Mexico for more information about obtaining a loan as a citizen or foreigner. The rates below are not a guarantee of a loan at that rate. Consult your lawyer and local real estate agent in Mexico for more information or contact us below if you need an experienced agent.

Current Mortgage Rates in Mexico

Most real estate deals in Mexico are made with cash and obtaining a mortgage in Mexico, regardless of the rate, as a non-citizen can be very difficult. If you hear about a company offering Mexican mortgages to Americans and non-Mexican citizens you should be cautious about their fees and timelines. Your lawyer or real estate agent can help with this.

Sources
Banco de Mexico (banxico.org.mx)
International Monetary Fund (imf.org)

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Historical Mortgage Rates in Mexico

Mexican mortgage rates are currently quite high compared to the past few years of historical data. In 2021, mortgage rates dipped to as low as 4% and before that, in 2019, mortgage owners in Mexico were experiencing rates of around 8.26% in Q1 of that year. So mortgage rates in Mexico, like in the US, change frequently as economic conditions change.

US & Canadians Citizens Can Get a Mortgage in Mexico

Foreigners are allowed to obtain a mortgage in Mexico, assuming they meet all of that bank’s particular financial requirements. Many Americans and Canadians use US home equity loans or refinance their main residence to pull out cash. Retirees and others often sell their US or CA home to obtain the cash necessary for a transaction in Mexico. The cost of living in Mexico is quite a bit lower and their cash goes a lot farther when making the move.

Read our full guide to mortgages in Mexico for foreigners.

Dream Loan: A Mexico Mortgage for Foreign Citizens

Historically, it’s been difficult for non-Mexican citizens to obtain a mortgage in Mexico. Dream Loan, by Intercam Bank is making it easier than ever for US and Canadian citizens to buy their dream home in paradise. You can obtain a Dream Loan in some of Mexico’s most desirable locations including Puerto Vallarta, Cabo and now Riviera Maya (Cancun, Playa del Carmen, Tulum). There is a $250K minimum home-purchase price on these loans but interest rates are competitive for Mexico at 7-9%.