I’m curious to know what others think about these options.

Quote from @Patricia Steiner: There are several lenders who offer low/no closing cost options for first time homebuyers.

Don't be so quick to indebt your paid off townhome until your learn creative financing and review all your options.

But you have a few different options.

The advice I would give as a lender are these few options if you both are on mortgage.

Bear in mind that the fiscal treatment of the two options in Mexico is different (withholding tax on the gross income with the fideicomiso vs cost deductions with the corporation).

Feel free to reach out, I'm happy to chat and discuss options :) 

The agent turned down a seller financing option - although it was not ran by the seller - because the agent said the seller is so done with the property that she wants nothing to do with it at all.

The “borrower” would have an option to buy back the property if (1) all lease payments (“mortgage payments”) have been made and the borrower/seller pays is the sale price/loan amount in full at the time the option period/note matures.  

Consider house hacking by purchasing a multi-family property with an FHA loan, or explore creative financing options like seller financing or partnering with private lenders.