WE'RE ALWAYS EXPANDING
DID YOU KNOW?
In2019,MoXiinvestedover$1Min legalexpensetoensurethatour documentset,includingthe FideicomisodeGarantia,provides theultimatesecurityandownership protectiontoourclients.
WHAT TO EXPECT WHEN FINANCING
METHODOLOGY
MoXiloanratesareformulaicallydeterminedbasedonprimarywage earnerFICOscoreandloan-to-valueratio.Forexample,clients borrowing35%oftheirhome’sappraisedvalue(65%downpayment forpurchases)withahighFICOscore,willbeonthelowerendof MoXi’srange.Whilethisisastarkcontrastfromthe30yearfixed owner-occupiedmortgageratesavailableintheUnitedStatestoday, ourclientsoftenfindthatthetruecostofborrowingintheUSagainst anotherproperty,lostinvestmentopportunityinthemarket,and potentialpenaltieswhenpullingfromaretirementaccountcasts differentlightonthesemortgagerates.Inaddition,MoXiloansare originatedandservicedinUSDollarsbyourUSServicingentity.As such,mortgageinterestpaidtoMoXiisreportedtotheIRSviaa1098INT,identicaltothewaythataUSMortgageservicerwouldreport interest.MoXiistheonlyfinancecompanyinMéxicothatoffersthis convenience.
Manyclientsreportbeingabletodeducttheirmortgageintereston theirUStaxreturn,resultinginalowereffective-after-taxinterestrate. ClientsareencouragedtoconsulttheirCPAortaxadvisorregarding deducibilityofmortgageinterest.MoXiunderstandsthatdream vacationhomeownershipinMéxicooftenincludessignificantvaluein offeringthepropertyforrentduringpeakperiods.Manyclientseven enjoycoveringanentireyearofpropertyormortgageexpenses throughrentalincomeinonlyacoupleofpeakweeks.Forthisreason, MoXiallowsinvestmentpropertyfinancing,anddoesnotchargearate premiumforpropertiesthatareofferedasavacationrental.Incertain circumstances(typicallyrefinanceandcash-outrefinance transactions),subjectpropertyrentalincomecanevenbeusedto qualifyforfinancingfromMoXi.
VESTING
MoXi,withoutadditionaladdedratepremium,allows clientstoborrowandcloseinthenameofaUSregistered corporation,LLC,ortrust–anadvantagenotordinarily offeredwithconventionalUSMortgages.Certain restrictionsanddocumentationrequirementsapply.
SELF-EMPLOYED
Self-employedornon-traditionalincomeearnersenjoy MoXi'sbankstatementoralternativedocumentation incomequalificationpolicy.Notethatinordertohelp clientstakeadvantageoftheUSandMéxicotreatyon doubletaxation,USpersonalincometaxreturnswillbe requiredfromallborrowerstovalidateUStaxpayerstatus.
However,incomeusedasabasisofrepaymentfortheloan canbeconsideredwithalternativedocumentation.
KEY DIFFERENCES:
FINANCING IN MÉXICO VERSUS THE US
Amongotherdifferences,incontrasttopropertypurchasesinthe UnitedStates,Méxicopropertypurchasesandfinancingtransactions involvethecollectionoffeesandtaxesonthefront-endversusonan ongoingbasis.Thisisoftenoneofthemosteye-poppingdifferences.
Forexample,atypicalpropertypurchasemayinvolvepayingfeesand taxesatorbeforeclosingaroundof7%-12%ofthepropertypurchase price.However,favorablepropertytaxtreatment,generallylower propertyinsurancepremiums,andotherreducedexpensesmakethe overallcostofownershipsignificantlyloweronanongoingbasis.
Breakevenmightoccuracoupleofyearsafterclosing,andeverymonth thereafteryouare“inthemoney.”MoXiiscommittedtotransparency withoutexception.AskyourMortgageAdvisortoreviewourClientFee Letterforatransparentviewofallpotentialcostsassociatedwith foreigneracquisitionofpropertyinMéxico.
LOAN TERMS
MAXIMUM LOAN AMOUNT*
$2,500,000
MINIMUM LOAN AMOUNT*
$250,000
MINIMUM FICO
700 MAXIMUM LOAN-TO-VALUE** 65% LOAN TERMS Upto30years LOWEST RATES IN MEXICO ContactMoXi
5 STEPS TO FINANCE
PRE-QUALIFICATION
YourMortgageAdvisorwillguideyouthroughtheprocessof submittingyourpre-qualificationapplicationsothatyoucan shopwithconfidence.Weofferbothstandardprequalificationcreditdecisionsaswellasfully-underwritten pre-approvalsforpeaceofmind.
APPROVAL
YourMoXiClientConciergewillschedulea30-minuteZoom welcomecallwithyouandyourMortgageAdvisorwhereyou’ll reviewandsignimportantdisclosures,discussanyunderwriting conditions,payfeesforthird-partyservices,andorderkeyitems fromvendorstocompleteyourtransaction.Inthiscall,we’ve consolidated3weeksofcommunicationinto30minutes.It’san excitingtime,whenyourMéxicohomeownershipbecomesreal!
FINDING PROPERTY
(PURCHASETRANSACTIONS)
Onceundercontractonyournewhome,acoordinatedand step-by-stepprocessbegins.YourMortgageAdvisorand ClientConciergewillpartnerwithyouandyouragentto navigatethroughyourescrowtoensureaseamless experience.
KEY TERMS
CONTACT MIKE (CLICK)