Puerto Vallarta, Mexico - MexLend Mortgages was one of the exhibitors at the first Puerto Vallarta Real Estate Fair sponsored by Timothy Real Estate Group. The event was held on March 2, 2013 and was attended by hundreds.
The fair brought together many Mexico real estate service providers including financing, insurance, property management, and interior design experts. They were there to answer frequently asked questions.
"I think people are surprised that we even have loans," says Terence Reilly, CEO of MexLend Mortgages, "People still don't believe that foreigners can get loans to buy property in Mexico. In fact, they are astounded that home loans are available."
Terence says the next question almost always concerns interest rates. Because of the economic crises in the US and Canada interest rates are at historic lows, but Mexico did not experience such a crises, and the rates are also at historic lows, but it is a different kind of low.
"Our interest rates start at 9 percent and go and go up to 10.5 percent," says Terence, "But once we get over that and they realize what they get for the money, they get into the loan and we don't have pre-payment penalties."
Terence suggests that people need to open up their financial papers, like Bloomberg, The New York Times and The Wall Street Journal. He says any time you see large institutional investors pouring money into a country, you can be pretty sure it's a safe bet... and Mexico is hot right now.
"Mexico is experiencing record foreign investment despite the press that we are getting," says Terence, "I know because I have lived here for eight years and it's a very safe country and the real estate market is the best it has ever been."
It was a great day for the first Puerto Vallarta Real Estate Fair with many locals and tourists attending the outdoor event, and next year organizers hope to make it even bigger and better.Are you looking to purchase vacation or investment property in Mexico? To discover which one of the many mortgage loan options that MEXLend offers is right for you, visit MexLend.com or MexLend.com.mx, call (322) 222-7377 in Vallarta, toll-free at 1.800.3.Mi.Casa in Mexico or (917) 779-9061 from the US or Canada.
To learn more about MEXlend, click HERE.
Timothy Real Estate Group is a full-service real estate sales, rentals and development agency representing some of the most distinguished properties and developments across Puerto Vallarta, Bahía de Banderas and the Riviera Nayarit. For more information, visit TimothyRealEstateGroup.com.
Click HERE to learn more about Timothy Real Estate Group