Also known as Fideicomiso! A trust allows you to hold property in Mexico. A typical trust costs approximately 2,500 USD to setup and about $50 USD per year to maintain. Once setup the trust is valid for up to 50 years. We can introduce you to trustworthy banks in Mexico, however note their level of English may be poor.
When purchasing property in Mexico you will always have to pay closing costs between 3 - 6% of the sale. This may vary depending on the notary you hire. Again we can refer you to a reputable notary to complete and verify your legal documents. This is essential to ensure there are no issues with your property, ownership or for resale.
Lending in Mexico is uncommon due to the high interest rates. If you want a mortgage in Mexico expect a variable rate as low as 8% and as high as 12% with the average being around 10%. This is exactly why it is uncommon for foreigners to secure lending in Mexico and the same reason buyers secure lending at home and then invest.