What Would a Mortgage Payment on a Home in Mexico Be? Meet the MoXi Payment Range Estimator
The short answer
U.S. citizens and permanent residents can finance a home in Mexico with a fixed-rate USD mortgage of up to 30 years, with at least 35% down and a 720 credit score. On a $650,000 home with 35% down, the full monthly payment, including principal, interest, property tax, insurance, the fideicomiso and loan servicing, comes to about $4,200 at an example rate of 9.5%. The MoXi® Payment Range Estimator calculates your own range from today's market in about a minute, free and without any contact information.
If you have spent any time looking at homes in Mexico, you have probably done the math on a napkin at least once. A price, a down payment, a rough guess at the rate, and then the question that really matters: what would the monthly payment be?
The Payment Range Estimator answers that for you, using today's market and a few details you enter. It is free, it shows exactly how every figure is built, and you can see your numbers without signing up for anything. If you would like help with the details, one click from your results connects you with a MoXi mortgage advisor.
What is the monthly payment on a $650,000 home in Mexico?
Here is a worked example using the same assumptions the estimator uses, with a 35% down payment and a 30-year fixed term.
| Purchase price | $650,000 |
| Down payment (35%) | $227,500 |
| Loan amount | $422,500 |
| Principal and interest (example rate of 9.5%, 30-year fixed) | $3,553 |
| Estimated property tax | $163 |
| Estimated homeowners insurance | $325 |
| Fideicomiso annual fee, monthly | $97 |
| Loan servicing | $65 |
| Estimated total monthly payment | about $4,200 |
At an example rate of 9%, the same home comes to about $4,050 a month, and at 10% it comes to about $4,350. The rate in this example is for illustration only. Your actual range depends on today's 3-Year U.S. Treasury and your own loan profile, which is exactly what the estimator calculates.
The cash you would bring to closing on this example is about $279,500, which is the $227,500 down payment plus closing costs that the estimator sets at about 8% of the price. Closing costs in Mexico often run higher than that, and our guide to closing costs in Mexico explains the fees you will likely encounter.
How does the MoXi Payment Range Estimator work?
- Choose a purchase or a refinance.
- Enter the purchase price and your down payment, either as a percentage or a dollar amount. It starts at 35%, which is the minimum.
- Pick your credit score range, how you plan to use the home and the state where it is located.
- Select "See My Payment Range" to see your results.
On a refinance, you enter your home's estimated value and how much you would like to borrow instead, and you can choose between lowering your rate or term and taking cash out.
What does a mortgage payment in Mexico include?
The estimate goes beyond principal and interest, because the full monthly payment is what you will actually budget for. Open "What's included" under your results to see each piece:
- Principal and interest on a fixed-rate USD loan of up to 30 years
- Estimated property tax, which in Mexico is typically low compared with the United States
- Estimated homeowners insurance
- The annual fee for the fideicomiso, the Mexican bank trust that is part of every MoXi-financed home
- Loan servicing
You will also see your estimated cash to close, which combines your down payment with estimated closing costs.
How is a MoXi mortgage rate set?
Your rate is built from two parts. The first is the 3-Year U.S. Treasury, which is published every U.S. business day and which anyone can look up. The second is a margin set by your loan amount, your credit score and your loan-to-value. The estimator pulls the latest Treasury value each day, and the page lays out the formula next to your results, so you can check the math against the published rate whenever you like.
Your margin is set once you have a property under contract with a closing date within 120 days, and your rate locks shortly before closing. From then on, it is fixed for the life of the loan, with no balloon payment and no prepayment penalty.
Who can get a mortgage in Mexico through MoXi?
MoXi lends to U.S. citizens and permanent residents buying or refinancing residential property in Mexico. Loans run from $200,000 to $2.5 million USD on homes valued at $350,000 or more, with a minimum 720 credit score and at least 35% down. Because the loan is in dollars, your payment does not move with the peso.
The estimator is also available in Spanish as the calculadora hipotecaria.
Got questions? Talk to an advisor
When your results come up, you will see a button to talk to an advisor, with no obligation. A MoXi mortgage advisor can walk you through your options, answer questions about your situation and show you the path to getting pre-approved. A MoXi pre-approval is fully underwritten, so you know where you stand before you make an offer, and it typically takes just a few business days.
Frequently asked questions about mortgage payments in Mexico
Can U.S. citizens get a mortgage in Mexico?
Yes. MoXi offers fixed-rate, USD-denominated mortgages of up to 30 years to U.S. citizens and permanent residents buying or refinancing residential property in Mexico, with loan amounts from $200,000 to $2.5 million USD.
How much do I need for a down payment on a home in Mexico?
With MoXi, the minimum down payment on a purchase is 35%, based on the lower of the contract price or the appraised value. That means you can finance up to 65% of the home. On a cash-out refinance, you can borrow up to 60% of the appraised value.
What credit score do I need for a mortgage in Mexico?
MoXi requires a minimum credit score of 720. A higher score can lower the margin used to set your rate, and the estimator lets you compare score ranges side by side.
Is the interest rate on a Mexico mortgage fixed?
Every MoXi loan has a fixed rate for terms of up to 30 years and is fully amortized, with no balloon payment and no prepayment penalty. Once your loan closes, your principal and interest payment stays the same for the life of the loan.
Does the estimated payment include property tax and insurance?
Yes. The estimate includes principal and interest plus estimated property tax, homeowners insurance, the annual fideicomiso fee and loan servicing. Property tax and insurance vary by municipality and property, and your advisor will confirm the figures for your home.
How accurate is the Payment Range Estimator?
The estimator uses the latest daily close of the 3-Year U.S. Treasury and the details you enter, so it reflects today's market. Your final rate is set at rate lock, using that day's index and your verified credit, appraisal and final loan amount, which is why the tool shows a range rather than a single number.
Do I need to give my contact information to use the estimator?
No. You can see your estimated payment range without sharing a name, email or phone number. If you want to talk it through, you can connect with an advisor from your results, with no obligation.
How much are closing costs in Mexico?
Closing costs on a home purchase in Mexico typically run from about 8% to 20% or more of the purchase price, and most of them go to third parties such as the notario, the state and the trust bank rather than to your lender. Fixed-dollar charges weigh more heavily on lower-priced homes, so the percentage tends to be higher on those.
Estimates are for illustration only and are not a commitment to lend. The example rate above is not a quote. Final rates are set at rate lock, and all loans are subject to MoXi underwriting approval.
MoXi® funds and services loans in USD and is a regulated mortgage company in Mexico, with compliance maintained throughout the life of your loan.
If you are weighing a purchase or refinance in Mexico, a short discovery call is the fastest way to get clear answers for your situation.
