Puerto Vallarta Real Estate | May 2007
|MEXLend Closes Highest US Residential Loan in Mexico|
Puerto Vallarta - Puerto Vallarta-based MEXLend, in partnership with GE Capital, have closed a record-breaking US loan on a famed Puerto Vallarta-area villa once home to the Wilson Family (of Wilson Tennis) and a getaway for President Nixon.
"Closing a loan of this magnitude smoothly and on time requires a close working relationship with the investor, the broker and the realtor. GE Capital and MEXLend have worked tirelessly to iron out the bumps previously associated with international financing. Helping a client attain their dream home is always rewarding whether the property is $5 Million or $50,000," stated David Schwendeman - current Co-Founder and COO of MEXLend.
MEXLend is not limited to mortgages for Puerto Vallarta, as they can offer their award-winning services for purchasing property in any area throughout Mexico, in US Dollars and Pesos, to refinance a current loan or simply cash out on existing equity.
Last year approximately 400,000 foreigners looked south to Mexico as a place to retire or for a second home. Softel estimates that in 2006, only 10% of housing stock in Mexico had financing attached, a number that is expected to triple in the coming years. As recently as three years ago, your options to purchase a home in Mexico were limited to paying cash or to mortgages with extremely high interest rates. While the US mortgage market is experiencing turbulence, the emerging Mexican Mortgage market continues to grow and expand, attracting ever increasing numbers of US banks seeking a safe haven.
Within the past year, many lending options have opened up to foreigners seeking a mortgage, but only one Mortgage Broker — MEXLend — has been singled out for customer service. In recently announced results based upon post-closing client interviews conducted by Mexico's largest US lender, MEXLend won the #1 mark of distinction for both client satisfaction and fastest closings for the second straight cycle. Forging partnerships with banks, private lenders, title insurance agencies and attorneys has afforded MEXLend the unique ability to streamline the mortgage process in Mexico.
MEXLend, Inc. is a Mexican mortgage brokerage based in Puerto Vallarta that currently represents 8 different lenders offering 75 different loan options in Dollars and Pesos for buyers looking to purchase vacation or investment property throughout Mexico. To learn more about MEXlend, click HERE or visit MexLend.com.