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Yoselin Martínez 01 / 09 / 2023 7 min.

Requirements to obtain mortgage loan with a fideicomiso in Mexico

What are the requirements to obtain a trust (fideicomiso) in Mexico?

A trust (fideicomiso) serves the purpose of allowing the use of real estate located in restricted zones for the benefit of foreign individuals. In other words, it functions as a legal arrangement used to enable foreigners to acquire property through a permit granted by the Ministry of Foreign Affairs.

By restricted zones, we refer to lands and waters within a 100-kilometer strip along the borders and a 50-kilometer strip along the beaches.

The trust (fideicomiso) is established through a bank, which ensures its proper functioning. It is set up through a contract that specifies the rules and conditions for the use and distribution of the property's benefits among the beneficiaries.

Process and requirements for applying for a trust (fideicomiso)

Each financial institution has a different process and response time. However, the general procedure is as follows:

  • The foreigner submits their documentation to the bank or institution (fiduciario) that will serve as the trustee.
  • The foreigner pays the fees and permits contributions.
  • The financial institution processes the permits with the Ministry of Foreign Affairs.
  • The permit and contract draft are sent to a notary for formalization through a public deed.
  • Once the draft is approved, the Ministry of Foreign Affairs and the National Institute of Immigration are notified.
  • Finally, the signing of the deeds is coordinated.
  • Throughout this process, the lender, beneficiary, notary, and bank (fiduciario) are involved.

Requirements to obtain a mortgage loan with a trust (fideicomiso)

The requirements to obtain a mortgage loan in a restricted zone through a trust (fideicomiso) and in accordance with Yave's policies, are:

  • Passport.
  • Credit report from the credit bureau, including the credit score (some reports may not include it).
  • The last 6 bank statements.
  • The last 2 annual tax returns.

Yave offers you credit to buy property in a restricted zone without any issues. The interest rate we provide is fixed, unlike other financial entities that may offer a variable rate.

We can lend up to 85% of the property's value, although this depends on the analysis of your application. This percentage will be determined once the credit is approved.

What are you waiting for? Start your application now!

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Yoselin Martínez

Content Manager en YAVE. Comunicóloga egresada de la UAM Xochimilco y ganadora del Premio Nacional de Trabajos Recepcionales CONEICC 2015. Disfruta viajar a la playa y pasar tiempo en familia.

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