nate - 6-25-2003 at 10:12 AM
Is anyone familiar with a company that does loans for property in Baja? Just bought land in Loreto, and would like to start building. A loan would
make it a lot easier. Any info would help. Thanks.
nate
Braulio - 6-25-2003 at 11:55 AM
nate -
I wish I had some encouraging information for you but the reality is that the interest rates on the type of building loan your talking about are
going to be pretty high. I'm assuming here that your're considering taking out a loan based on the value of the land.
Most americans that build in Mexico either do it with cash or they take the loan out on prooperty they already have in the US.
Mexicans have some access to low or no interest loans through programs like INFONAVIT but they're really limited as to where they can purchase the
real estate.
If you do get someone to loan you the money be sure to read the fine print in the contract.
Good Luck.
Braulio.
JESSE - 6-25-2003 at 01:12 PM
You might want to try a Bank, yes a Bank, interest rates in Mexico are at the lowest points ever, so that idea might not be so bad.