5 Ways That MoXi Simplifies Mexico Financing

In this interview:

• MoXi lends in USD (this is important)
• Loans are fully amortized 
• 25-years at a fixed rate 
• ZERO balloon payments of tricky terms

Video Transcript - (Speaker: Alex Koper, CEO)

 MoXi helps US Citizens finance their dream homes in Mexico.

While our products are similar to what you might expect to find in the United States of America, there are some key differences and nuances that we want to point out, so five quick items.

All of our mortgages are originated in US dollars and serviced in US dollars. So you remit your payment in US dollars with no foreign exchange risk for the ongoing life of your loan. Our term lengths go up to 25 years, so that's a really powerful and important component.

All of our mortgages are fully amortized, so there's no change. Once your rate is finalized at closing, there's no change in your principle and interest payment monthly. You'll continue to remit property taxes, fiduciary renewal fees, homeowner's insurance, and our monthly sub servicing fee with your payment every month, but your principal and interest payment won't change for the life of that loan. We offer no balloon payments whatsoever, and no prepayment penalties of any kind on any of our mortgage loans.

MoXi offers locks that are added then to the three year credit swap rate. Which is an index that a lot of mortgage origination companies use to price mortgage loans. So we would lock your spread, which is based on your loan size, your LTV and your FICO score. We'll lock that for up to 120 days, when you're within the 120 day period of time prior to your closing date.