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Learn how to buy a house from abroad with the TU VIVIENDA EN MÉXICO program

Learn how to buy a house from abroad with the TU VIVIENDA EN MÉXICO program

Many Mexicans go out in search of the American dream, the mission: to find resources to offer their family a better life.

Among the priorities of these people is to provide a better heritage for their family. 

Today, this objective is easier to meet thanks to the Tu Vivienda en México program, which allows them to access mortgage loans with national financial institutions to buy a house in the country while abroad.

What is the Tu Vivienda en México program?

Tu Vivienda en México is a program that allows Mexicans residing in the United States or Canada to buy new or used homes in Mexico. This arose as a collaboration between the Federal Government through the National Housing Commission (CONAVI), the Federal Mortgage Society (SHF) and the Institute of Mexicans Abroad (IME), who have allied with private financial institutions to the granting of loans for housing. 

 

In this way, it is intended to encourage real estate investment in Mexico, and at the same time help Mexican families to build their own assets.

house Mexico

Your Home in Mexico What are its characteristics?

This program is carried out through a credit for migrants called Tu Opción en México, created by BBVA. This credit has the following characteristics:

  • The credit is granted in Mexican pesos
  • Has a fixed interest rate in Mexican pesos
  • The amount of the credit starts from 50 thousand pesos and does not have a maximum limit
  • You can finance up to 90% of the total value of the home
  • It can be settled in terms of 5, 10, 15 and 20 years
  • You can pay off your credit in advance without penalties
  • Both the credit and the guarantee thereof are in Mexico

How can you access the Tu Vivienda en México program?

  • Possess Mexican nationality and have an official identification such as passport, INE or consular registration number
  • Be at least 26 years old
  • The home you chose must have a minimum value of 180 thousand pesos
  • The term of the credit must end before you reach 85 years of age
  • Proof of income and financial solvency
  • Have a good credit history both in Mexico and in the United States or Canada
  • Minimum of one year in your current job
  • Have more than 6 months living in the same address
  • Have a family member to represent you in Mexico

A great advantage of this program is that the immigration status does not influence the person's eligibility to access these credits.

house Mexico 2

How is the process to buy a house from abroad?

The process of this Tu Vivienda en México program is carried out simultaneously in the United States in coordination with the BBVA branch in Mexico. 

It goes according to the following steps:

  1. Choose a home in Mexico.
  2. Subsequently, you must contact an executive of the Tu Opción en México program of BBVA in the United States.
  3. To start your registration, send all the requested documents as indicated by the financial executive.
  4. We will proceed with the property appraisal. This step will be coordinated from the BBVA branch in Mexico. 
  5. Afterwards, a date will be set for the signing of the deeds, for this the borrower or an attorney of his or her in Mexico must attend. 
  6. The last step is to meet your monthly payments from the United States on time.

Take advantage of this program and make the dream of having your home in Mexico come true. At Bay Realty we have the ideal option for you.

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0 thoughts on "Learn how to buy a house from abroad with the YOUR HOUSING IN MEXICO program"

  • Jason ellison

    April 12, 2021 at 10:29 pm

    Hello. I'd like to find out more about the Tu Vivienda program. We live in Canada. My wife is from Mexico and we still have family in Mexico as well. We believe we meet all of the initial criteria set out in the program as well. Does this program include any property for sale in Mexico? Or is it only for specific areas and developments? If there is some more information that can be sent that would be great. Thanks. Jason and gina

    Reply

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