MEXICO
www.rmm-mx.com
Residential Management
Mexico S.A. de C. V. is a division of R.M.M., Residential Mortgages for
Mexico, a US corporation with head quarters in Denver, Colorado.
The objective of these loans is to facilitate Real Estate acquisition in Mexico to a great number of people.
R.M.M.’s goal
is to assist developers to obtain construction loans for commercial and
residential development, and to secure long term financing for these projects
at a very reasonable rate of interest.
On the retail
side, R.M.M. is offering different programs for construction, purchase,
cash out and presale of property in Mexico at a reasonable rate of interest.
As of April 1st
RMM offers a great variety of financing programs,
Peso Loans
Residential
Construction
Remodel
Extension
Presale
Cash out
Dollar Loans
Residential
Residential Construction Loans for developers
Commercial
Commercial for developers
Cash out
RMM is committed
to see that every application will get approval from one of the lenders
it is currently working with.
For further details stop by
our office and we will help you to find an adequate program to fit your
customer’s necessities. It will be our pleasure to work with all developers
and real estate agents.
RESIDENTIAL LOANS
IN PESOS
This loan is
available for Mexicans, Americans and Canadians who have income in Mexico.
Offers the opportunity
to buy residential Real Estate. The maximum loan amount of the loan will
be 80% of the property price.
Minimum loan
amount: $250,000 pesos.
Minimum property
value: $500,000 pesos.
The interest
rate lowers annually if every payment is received in time, reducing considerably
the loan term.
| TERM (years) | 10 | 15 | 20 | ||||||
| Term ends in 9 years 4 months | Term ends in 13 years 3 months | Term ends in 16 years 5 months | |||||||
| INTEREST RATE | |||||||||
| 1 Year | 11.58% | 11.75% | 12.00% | ||||||
| 2 Year | 11.28% | 11.50% | 11.80% | ||||||
| 3 Year | 10.88% | 11.15% | 11.50% | ||||||
| 4 Year | 10.38% | 10.75% | 11.15% | ||||||
| 5 Year | 9.78% | 10.30% | 10.75% | ||||||
| 6 to 10 years | 8.88% | 9.75% | 10.25% | ||||||
| PAYMENT FOR EVERY | $14.11 fixed | $11.85 fixed | $11.02 fixed | ||||||
| 1000 PESOS LOANED | |||||||||
| BANK OPPENING | 2% | ||||||||
| FEES | BANK | ||||||||
| RMM FEES | RMM fees will depend on the loan amount | ||||||||
| $250 usd Deposit required | |||||||||
| TOTAL ANNUAL COST | 12.8445% | 12.8073% | 12.9479% | ||||||
CONSTRUCTION, REMODEL,ADDITION LOANS
IN PESOS
This loan is
available for Mexicans, Americans and Canadians who have income in Mexico.
The maximum loan
amount is 50% of construction costs plus 50% of the land value. This number
cannot exceed 75% of the total construction cost.
Minimum loan
amount: $150,000 pesos.
The loan will
be granted in three phases. Construction must be at 35% to obtain the loan.
The interest
rate lowers annually if every payment is received in time, reducing considerably
the loan term.
| TERM (years) | 10 | 15 | 20 | ||||||
| Term ends in 9 years 4 months | Term ends in 13 years 3 months | Term ends in 16 years 5 months | |||||||
| INTEREST RATE | |||||||||
| 1 Year | 11.58% | 11.75% | 12.00% | ||||||
| 2 Year | 11.28% | 11.50% | 11.80% | ||||||
| 3 Year | 10.88% | 11.15% | 11.50% | ||||||
| 4 Year | 10.38% | 10.75% | 11.15% | ||||||
| 5 Year | 9.78% | 10.30% | 10.75% | ||||||
| 6 to 10 years | 8.88% | 9.75% | 10.25% | ||||||
| PAYMENT FOR EVERY | $14.11 fixed | $11.85 fixed | $11.02 fixed | ||||||
| 1000 PESOS LOANED | |||||||||
| BANK OPPENING | 2% | ||||||||
| FEES | BANK | ||||||||
| RMM FEES | RMM fees will depend on the loan amount | ||||||||
| $250 usd Deposit required | |||||||||
| TOTAL ANNUAL COST | 12.8445% | 12.8073% | 12.9479% | ||||||
cash out PROGRAM
IN PESOS
This loan is
available for Mexicans, Americans and Canadians who have income in Mexico.
Cash out program
for purchase, construction or liquity purposes
Loan amount:
up to 50% of the property value.
Collateral for
the loan will be customer’s main residence. (Minimum property value $750,000
pesos)
Liquity purposes:
interest is subject to IVA and is added to monthly payment.
A residential
purpose does not generate IVA.
| TERM (years) | 10 | 15 | 20 | ||||||
| Term ends in 9 years 4 months | Term ends in 13 years 3 months | Term ends in 16 years 5 months | |||||||
| INTEREST RATE | |||||||||
| 1 Year | 11.58% | 11.75% | 12.00% | ||||||
| 2 Year | 11.28% | 11.50% | 11.80% | ||||||
| 3 Year | 10.88% | 11.15% | 11.50% | ||||||
| 4 Year | 10.38% | 10.75% | 11.15% | ||||||
| 5 Year | 9.78% | 10.30% | 10.75% | ||||||
| 6 to 10 years | 8.88% | 9.75% | 10.25% | ||||||
| PAYMENT FOR EVERY | $14.11 fixed | $11.85 fixed | $11.02 fixed | ||||||
| 1000 PESOS LOANED | |||||||||
| BANK OPPENING | 2% | ||||||||
| FEES | BANK | ||||||||
| RMM FEES | RMM fees will depende on the loan amount | ||||||||
| $250 usd Deposit irequired | |||||||||
| TOTAL ANNUAL COST | 12.8445% | 12.8073% | 12.9479% | ||||||
Presale
in PESOS
CONDOS & TOWERS BEING BUILT
This loan is
available for Mexicans, Americans and Canadians who have income in Mexico.
Down Payment:
25%
The balance will be paid as follows:
First when construction
is at 50%, second when construction is advanced in 75%
50% is when building
is up at 100% (columns & floors) and the apartment perimeter is enclosed.
75% advanced
is when the apartment is ready to received final touches (floors, wood work,
kitchen and bathroom installations)
FOR HOMES:
This loan is
available for Mexicans, Americans and Canadians who have income in Mexico.
Down Payment:
25%
The balance will
be paid as follows:
First when construction
is at 30%, second when construction is advanced in 50% and the third one
at 75%.
30% construction
advanced is when foundations and first floor walls are up.
50% is when the
house is up and the perimeter is enclosed, electric and plumbing installation
is in place.
75% molders,
flooring, carpeting are being installed.
RESIDENTIAL LOANS
IN USD
Offers the opportunity
to US citizens and residents to buy Real Estate in Mexico through loans.
Minimum loan
amount $100,000 up to 1.5million dollars
The maximum amount
of the loan will be 70% of the property price
The loans will
be payable over 30 years
The current Interest
rate is 7.99% The rate will remain fixed for three years, and after that
period it will be adjusted biannually at LIBOR +4.5% The rate cannot exceed
13% and it can not be less than the initial interest rate
THE COLLATERAL
FOR THE LOAN WILL BE THE PROPERTY THAT IS TO BE ACQUIRED
The monthly payments
made on the loan should not exceed 60% of the client’s monthly income
There may be up
to 4 borrowers per property, but each person is completely responsible for
the loan
HOME FINANCING OR
CASH OUT
PROGRAM
This loan is
available for US citizens
Loan amount:
$100,000- $1million usd
Interest Rate:
10% rate is fixed for the term of the loan
Amortization:
fixed interest for 20 years
Loan to value
70%
Stated income:
means CPA can write a letter that their gross income is over $200,000
Personal Net
Worth of borrower must be $1 million and above.
Fees may be rolled
into the loan depending on the credit strength of the borrower.
FICO score 680
lender will look at lower FICO scores 660 depending on credit strength of
the borrower.
RESIDENTIAL
CONSTRUCTION LOANS
PROJECT SIZE: UP TO $5 MILLION
Type of Projects: Residential
Locations: Coastline (preferably)
Interest Rates: 10% US Prime
Loan to Cost: 70%-30% Collateral
invested in the Project. Draw loans until the project is finished, then
a commercial loan for 20-30 years
Management Experience: Track
record on previous projects
Construction Funding: Draw
system monitored by bank
Loans: US Builders Only
This construction loan is subject
to the lender financing the home when sold unless it is a cash deal or a
non qualifying buyer.
The lender wants individual
builders who do several homes a year.
Time Line Maximum
of 6-9 months
RESIDENTIAL
CONSTRUCTION LOANS
PROJECT SIZE: $ 2 MILLION
AND ABOVE
Type of Projects: Residential
and commercial
Locations: Coastline (preferably)
Interest Rates: 8-10% US Prime
Loan to Cost: 70%-30%-40% Collateral
invested in the Project. Draw loans until the project is finished, then
a commercial loan for 20-30 years
Management Experience: Track
record on previous projects
Construction Funding: Draw
system monitored by bank
Loans: Nationals and US builders
This construction loan is subject
to the lender financing the home when sold unless it is a cash deal or a
non qualifying buyer.
The lender wants individual
builders who do several homes a year.
COMMERCIAL
AND RESIDENTIAL LOANS FOR DEVELOPERS
PROJECT SIZE: $ 15 MILLION
TO $100 Million
Type of Projects: Residential
and commercial
Locations: Coastline (preferably)
Interest Rates: 8-9% US Prime
Loan to Cost: 60%-35%-40% Collateral
invested in the Project. Draw loans until the project is finished, then
a commercial loan for 20-30 years
Management Experience: Track
record on previous projects
Construction Funding: Draw
system monitored by bank
Loans: Nationals and US builders
This construction loan is subject
to the lender financing the home when sold unless it is a cash deal or a
non qualifying buyer.
CONSTRUCTION
AND FINANCING PROGRAM
Loans for US
citizens who are purchasing land and building along the coastline in the
major resort areas. Mazatlan included.
Loan amount:
$300,000 up to $1 million usd
Down payment:
35%
Interest Rates:
7.75% - 9%
Term: 18 month
construction period
When the construction
loan is complete it converts to a 20 year mortgage that fully amortizes
at a fixed rate at 8%
Borrower must
show 3 times net worth.
