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Some people have said that it's virtually impossible to get a US mortgage to buy in Mexico/Baja and that the rates are outrageously high. Others insist that it's possible but challenging. Anyone have any sage advice on this matter, and/or the names of some good mortgage brokers?

I'm pretty sure the deafening silence is saying what I expected any response would be. Myself & everyone I know went the cash route. I don't personally know or know of anyone who financed & is carrying a mortgage on their homes SOB.

There is a realtor in the La Paz area who used to advertise finding US financing for SOB casa purchases, but I don't know whether or not they're still actively doing that. A contact is: Glenn@prestigepropertygrouplapaz.com

us mortgages in Mexico - Bing

I know of a few who were able to obtain a mortgage on their homes down here - two from Mexican Banks and one from a US based financial group. They were tedious to say the least and the interest rates were high - something like 12% as I recall. Where in Baja are you looking for a mortgage?

Still exploring the options, getting a sense of what I might be able to afford. Planning to rent first, of course. Todos Santos has been first on my radar, but I'm flying out to Ensenada next week for a few days to check it out as well.

I think Mexican mortgages require a large down payment to secure. Seeing how the RE market is as slow down here as NOB, you may be able to find someone willing to carry the paper themselves with a good down payment. Just another option to consider...

While you are in Ensenada, look at the Baja Country Club, just south of town. even if you are not a golfer, they offer some good deals on houses and will (used to) carry the note, There also are some private sales there:

Baja Country Club | Baja México | Mexico Real Estate.

Re-Fi your house in the US, take out sufficient cash to buy your Mexico home and there you have it. A Mexican house with a US mortgage - at a very favorable interest rate.

Hi. Just put a deposit on a lot in Baja Country Club. Looking to close next week, so I might soon be your neighbor. My wife is Mexican and we have built a couple properties in Tijuana, so we have Mexican contractors and architects who will help us on the construction. The thing that worries us is that Mr. Alvarez told us that the lots are not yet registered in the Registro Publico. We would appreciate any comment on that or anything else you can tell us to help us. Thanks.

Ask Terry (Teniente). He has a home there and seems to be up to date with property info there at BCC. Hope to find time to play a round of golf there next month...

HI. Did my due diligence for Baja Country Club. (Note: The people at the Ensenada Catastro (Recorder Office) were very friendly and helpful, even thanked me for coming in and said they wish everyone would come in before buying anywhere in the Ensenada area. No fees were required or requested. I speak fluent spanish, so I do recommend taking a translator with you if you do not. The offices are located in the modern new government center along the highway south of Ensenada towards La Bufadora.)

Apparently Baja Country Club is now owned by Club Campestre C.A. de C.V., controlled by the same group who built and promoted the Club Marena towers on the shore line near Rosarito. As many who live and buy in this area know, Club Marena has a very good reputation. The civil engineer at the Catastro who is handling the Baja Country Club subdivision (fraccionamiento) reports that they have gone through the necessary motions to make the property a legal subdivision, which include environmental and topographical studies and reports, and they have a professionally prepared subdivision plan that has been approved (They even showed me the paperwork). They are down to the fifth and last step of the process, which is a formality where the approved plans are sent to Mexicali (state capital) for final approval certification. This is expected to happen in the next 30-60 days. At that point the project will be published in the official printed state magazine. (You can research this publication if you'd like to check on any development that has already been formally approved and certified.)

Also, note that I checked with Stewart title, who replied that they are familiar with the development and would be willing to issue title insurance policies there. Of course, they would need to do the individual lot prelim research first. But I believe the fact that they would consider insuring in that development to be a good sign in itself.

This is enough for me. I purchased a lot yesterday.

And, just to stay in topic, Baja Country Club is currently carrying their own accounts. As little as 10% down and up to 10 year amortization with fixed payment land contracts in pesos. They expect to begin offering bank financing of up to 25 years once the development is certified.

Next time you are in the area, stop by my place at the BCC.....#337

And welcome to the neighborhood!!!!!!

Do they only offer financing on lot sales or on home construction as well???

Originally Posted by BajaGringo

Do they only offer financing on lot sales or on home construction as well???

We used the BCC in house financing for our construction with 1/3rd down.

There is a group of us living down here that golf and have been thinking about getting a place together in either BCC or Bajamar to make weekend runs for golfing. That is, if I ever manage to find time to take a day off...

Originally Posted by BajaGringo

There is a group of us living down here that golf and have been thinking about getting a place together in either BCC or Bajamar to make weekend runs for golfing. That is, if I ever manage to find time to take a day off...

The BCC has some nice "little" houses for $125K.....Mulege model, 3 bdrm, 2 1/2 bath, 1,356 sq ft.

Mexico Retirement | Residential Homes San Felipe, Rosarito, Loreto, Los Cabos

Baja Country Club is carrying their own paper, with minimum 10% down on lots, and 33% down on already built spec homes as available. I believe that they will also build a new model home of your choice for 1/3 down. Payments are amortized up to 10 years, interest around 12%, so the payments can be a little steep ... but you will be free and clear in 10 years. Also, the contracts are in pesos, so a peso devaluation would work in your favor if you earn in dollars.

I also considered both Bajamar and BCC, but focused on BCC due to proximity to Ensenada. (I'm kind of a city boy, craving nightlife and such.) Bajamar is the larger of the two, being a 27 hole course vs BCC's 18 hole. Bajamar is also next to the ocean, while BCC is located in San Carlos canyon, about 4 miles inland from Estero beach. Ironically, I'm not much of a golfer (still working the driving range), so I can't comment on the play ratings.

If daily golf is important- def live by the course you will play most. My game was never good enough to keep the ball on the narrow canyon fairways. The balls would bounce off the "rough boulders" and I didn't have a canteen and snakebite kit with me to hike up the hillsides to retrieve them all. If I were a better golfer I would have enjoyed it more. Nice view though.

What kind of condition is the BCC course in nowadays???

Originally Posted by BajaGringo

What kind of condition is the BCC course in nowadays???

Course is in good shape. This rain is really helping and they are doing some landscape revisions to a "desert scape" theme to save water and maintenance. The new revisions do not affect the play.

Come on over and check things out.