How Mexican mortgage rates work
Most residential mortgages in Mexico are denominated in pesos and offered with a fixed rate for the life of the loan. Posted rates depend on the lender, the borrower's payroll relationship, channel, LTV, and term. The five largest residential lenders publish rate sheets quarterly; the calculator pulls from each lender's site directly. CAT (Costo Anual Total) is the total annual cost including insurance and origination, which is always higher than the headline interest rate.
TIIE 28 reference rate
TIIE 28 días is Banco de México's interbank reference rate, published daily in the Diario Oficial de la Federación. Floating-rate (TIIE-linked) mortgages reset monthly against this benchmark. The MWH calculator surfaces only fixed-rate products since variable-rate exposure is rarely the right call for a foreign buyer holding pesos against a USD or CAD income.
Can foreign buyers get a Mexican mortgage?
Yes. All five lenders surfaced here will lend to foreign nationals on Mexican residential property, including property held through a fideicomiso. Documentation requirements are heavier than for Mexican residents (passport, proof of income from your home country, credit reference letters). HSBC Premier is often the cleanest path for buyers with HSBC accounts in Canada, the UK, or Hong Kong because the global relationship pre-fills most documentation. Many foreign buyers choose to pay cash or finance from their home country instead, both paths are common in the Riviera Maya.
Why this is an estimate, not a quote
Posted rates are the lender's headline rate. Your offered rate at closing depends on factors the calculator cannot model. Closing costs (notario, registry, ISAI, fideicomiso) are NOT included in this calculator, see the closing-costs calculator for those. Always verify with the lender directly before making decisions on the loan.