All Forum Posts by: Lisette S.

Okay- I am throwing this out to see if anyone or any lenders can provide some insight. I have a primary residence, but am looking to see if it is possible to purchase a triplex as an owner occupied residence with a lower down payment than the 20% required for typical loan. My current primary residence is not an FHA loan, and I am looking to downsize into a triplex. I'm a single empty nester and would like to know if this is at all possible or realistic? I have 10-15% for a downpayment on a triplex I am looking at in California. But not the 20% with the reserves required etc. I would barely be making it. Anyone with insights?

@Matias Naredo

Love Condesa- looking for a condo there in next few months- any tips, leads to share?

@Victor A jimenez or able to

@Victor A jimenez

I’ve purchased property in Baja California and am currently in process negotiations with another in Mexico City and Merida. I can try to help if I am unable to.

@Eric James to build a home in Mexico it is not required to pay off cartels or city officials- just have to know what your doing and not be a dumb a**- just like everywhere else. What a statement.

@Porf Fenton

Can you provide details on the property- location and price.

@Mike Lambert You mention a few bankswill lend. Can you mention any of them by name or going about finding those.  Also, do you know if rates or lending is the same for Mexican citizens, but working in the with dual citizenship?

@Cj Powderhorn I'm still there- I have recently fallen in love with Ensenada- especially with its proximity to el Valle and having the beach right there. I'm still there and here in CA as well. Not sure where I'll be next month but let me know when you plan and I am up for it if it works. 

I am considering refinancing my current primary home loan ( renting it will give me $1000 cash flow/mo) and want to purchase and move into a home with an FHA loan. I've been told that if I refinance now I will need to wait 1 year to purchase again. I want to purchase in about 5-6 months or less than 1 year from now. I am still working on getting the down payment for this move, so it will be at least another 6 months before purchasing to be ready to do this. Can someone confirm or deny that I would need to refinance if I do refinance now? I've been holding off on refinancing because of this detail, but the refi rate is more than a 1% difference and tempting.

@Lisette S.

Another thing- as we were looking at investments- I felt investing in these areas was much safer than investing in places like Oklahoma, Alabama, Michigan etc. When I would see what was around I didn’t feel safe - even just google mapping, flying there etc. It’s a bit of a bias isn’t it? I guess the same bias people have of investing in Mexico as a whole. Any area you go into will have good and bad anywhere you go. The president of Mexico has not done much as a so called socialist- he may be a democratic socialist but isn’t anti- making money- just making sure the people are treated right and companies don’t exploit communities- I’m okay with that.