Dizzy - 9-28-2008 at 05:15 PM
I have previously posted this in the Baja Home Building and Living forum...no response. Thought that I'd give the Baja Q&A forum a try. Thanks.
Greetings-
I am a gringo living in the States who hopes to retire in Southern Baja soon. I have purchased a piece of land, and my fideicomiso trust is complete.
After discussing my plans with several builders, seeing examples of their work first-hand, and having recieved initial estimates, I have pretty much
decided on a builder.
One little problem...I forgot to save up.
My credit is excellent however, and though I have done some research on the internet, I was wondering if any of you who have financed construction of
a home in Mexico would be willing to share your stories (success or horror) or provide recommendations (please!) for the company with whom you did
business.
To be clear, I am looking for construction loan/financing information only...I have heard plenty of actual construction stories (good and bad) from my
amigos.
Cheers, and thanks in advance.
-Dizzy.
Diver - 9-28-2008 at 06:04 PM
No one answered because they don't know of much about home financing in Baja.
I have never heard of private financing for a Baja house although there was a company offering title insurance in Baja a few years ago.
Maybe buy the lot now and start saving !?
Good luck !
longlegsinlapaz - 9-28-2008 at 06:09 PM
Dizzy, I don't think you've gotten a response because everyone I know who've built here did it on a cash basis from the proceeds of the sale of their
US residence, which I did as well. This is primarily a cash "pay as you go" society.
In my opinion, interest rates here are way too high in comparison to what we're used to in the states. Below is the contact information for an
English-speaking person with Bancomer who should be able to give you some information. I don't personally know her, so not making a recommendation,
simply giving you a contact name as a good place to start gathering information.
Blanca Corral at: b.corral@bbva.bancomer.com
I don't know whether or not he's still involved, but Capt. Mike used to have a banner about mortgage or const loans on his signature line. You might
try to U2U him if he doesn't chip in here.
Dizzy - 9-28-2008 at 06:30 PM
Diver and longlegs-
Thanks for the replies. I wasn't complaining about the lack of response, just thought I'd try again.
Visited my local branch of Bancomer during my last trip, but I'll give Snra. Corral a try, longlegs. Thanks again.
-Diz.