Mexico Loan Requirements

Mexico Mortgage Loans

Mexico Loans

BORROWER REQUIREMENTS...

Minimum $20,000 verifiable household annual income
2 year verification of employment
If the applicant is an independent professional or business owner, a 2 year minimum history in the same activity will be required.
Home phone numbers, cell phone numbers, email address and any other contact information
Foreign (non-Mexican national) buyers will need a current passport for their country of origin.
Banking references
35/40 ratios and a 680 minimum FICO score (No minimum FICO for MX Peso loan but all outstanding obligations must be current)

BORROWER DOCUMENTATION...

Loan application (Standard form 1003): Properly filled out and signed by the borrower and co-borrower
Credit report authorization forms filled out and signed by the borrower and co-borrower
Certified copy of marriage record of borrower and property owner if applicable
Official identifications: Passport or Driver License
Evidence of income:
1. Employees payroll checks: Payroll check stubs for the last four months
2. Contract labor: Check stubs for the last four months
3. Business Owners, shareholders, natural persons with business activity commission agents without flat salary: Last 4 bank statements accompanied by the last income-tax return
Last 2-years of W-2s or 1099s
Last 4-months of asset statements (Checking, Savings or investments) showing activity and cash resources