Cross Border Investment
Cross Border Investment was founded by its President, Joshua Rappaport. Joshua is originally from Toronto, Canada and has been living in Puerto Vallarta since 2003. Joshua was literally fresh out of university when he decided to make this piece of paradise his home. He was finishing his degree at the University of Toronto and decided to do his final credits as part of an exchange program offered by the Universities of Toronto and Guadalajara (Guadalajara is about a 5 hour drive from Puerto Vallarta). Joshua finished his courses, earning his degree from the University of Toronto. Joshua’s mother tongue is English, but he is completely fluent in Spanish and can handle brief conversations in French and Brazilian Portuguese.
Upon completion of the courses in Guadalajara, Joshua then travelled to some of Mexico’s colonial gems in the center of the country before settling in Puerto Vallarta. Joshua has been working in the mortgage industry in Mexico since 2006. He founded Cross Border Investment with the philosophy of providing premium customer service and understanding clients’ needs. Cross Border Investment understands that for many purchasers, this is your first real estate transaction in Mexico, and perhaps your first international investment. The majority of foreigner buyers are located in your home city throughout most of the transaction, and your security and interests are taking very seriously by Cross Border Investment.
Joshua has a long list of clients, and is well known amongst realtors and developers in the major resort areas of Mexico. He has also established sound relationships with the institutions that are involved in the transactions – the lending banks, trust banks, and Notarios. Through Joshua’s extensive relationships with the major lenders in Mexico, Cross Border Investment’s clients are able to take advantage of quicker approvals, and often Cross Border Investment has exclusive mortgage products.
Contact us today to start making your dreams a reality!
Conditions & Qualifications
Mortgages are available for US and Canadian citizens and residents. The loans are usually issued by a Mexican bank that accepts foreigner borrowers. You will not be able to go into a bank branch in the US or Canada and get a mortgage using a property in Mexico as the collateral. The banks that lend to foreigners purchasing Mexican properties represent a fraction of the number of banks you would expect in the US or Canada, and they are usually offered through highly-specialized departments via representatives located in Mexico.
Following, you will find the corresponding information for mortgages that correspond to citizens and residents of the US and Canada.
US & Canadian Citizens and Residents
- Nationality: US and Canadian citizens and residents
- Purpose: purchase, cash-out, land purchase, rate and term refinance, construction
- Maximum loan-to-value (LTV): up to 90% of the value of the property
- Currency: Mexican pesos
- Amortization period: up to 20 years
- Prepayment penalty: no prepayment penalty
- Minimum credit score: The borrower should not have significant late payments.
- Maximum debt-to-income (DTI): 70% (Borrower cannot spend more than 70% of his monthly income on current debt according to his/ her credit report + the mortgage for which he is applying.)
- Income Documentation: Bank statements / Paystubs / Tax returns
*The loan terms and interest rates are subject to change without prior notice.
Mexicans and Residents of Mexico
- Nationality: Mexican nationals and residents of Mexico.
- Purpose: purchase, cash-out refinance, land purchase, rate and term refinance, pre-construction, renovation, home completion.
- Maximum loan-to -value (LTV): 90%. Up to 100% COFINANCED (a bank and a government institution jointly grant the more. For example, Cofinavit)
- Maxim loan amount: No maximum.
- Amortization period: up to 20 years
- Maximum debt-to-income (DTI): 70% (Borrower cannot spend more than 70% of his monthly income on current debt according to his/ her credit report + the mortgage for which he is applying.)
- Income Documentation: Bank statements / Paystubs / Tax returns
*The loan terms and interest rates are subject to change without prior notice.