Mexico Mortgage Lender Upbeat For 2010

By
Services for Real Estate Pros with Mexico Real Estate

 

Mexico's biggest home lender, the federal government housing fund, Infonavit, has seen robust demand for its massive mortgage bond placement this month. They were upbeat about the outlook for the 2010 Mexico mortgage program and said it bodes well for the securitization program.

In the record placing of bonds to raise money to lend as Mexico mortgage loans, investors demanded almost double the $391 million value of the bonds sold on the local capital markets.

Jersy Skoryna, spokesperson for Infonavit's Mexico mortgage bond program, said, "Demand was very large because last year we [only] saw demand of around 1.2 times and 1.3 times [the amount offered]".

The federal Mexico mortgage fund is funded by its lending business, employer contributions and mortgage bonds. In 2010, Infonavit hopes to sell bonds to a value of between 10 and 15.5 billion pesos and make 475,000 to 525,000 mortgage loans.

Skoryna said, "We are thinking about a second placement towards the end of May or beginning of June".

Infonavit has sold 51.73 billion pesos of its Cedevis bonds in 24 issues since first going to market in 2004. This makes it the largest issuer of Mexico mortgage backed securities.

Mexico real estate has largely avoided its won version of the credit crisis seen in the U.S. and other high consumer debiti societies. Traditionally much property is bought in cash, os the crisis was partly side-stepped.

Despite the prevalence of cash based purchases, the government backed mortgage loans have helped thousands of Mexicans buy low cost housing.

And just as there are loans available for Mexicans, there is a wide array of Mexico mortgage options for foreigners too. If you're looking to finance your dream property purchase in Mexican paradise, you'll be spoilt for choice.

Just find a good realtor and calculator or comparison tool online to help you compare the different loans and find a good Mexico mortgage.

 

 

 

 

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