The loans will be granted by Citibank
Banamex Financial Group, a subsidiary of the US-based Citigroup, announced a mortgage loan program in dollars aimed at US citizens interested in buying properties in tourist destinations in Mexico.
The Banamex financial group stated in a press release that these loans, which will be granted by Citibank in the U.S., have down payments starting at 20% of the property value and will have terms of up to 30 years with fixed or variable rate schemes and no penalty for early payments.
These loans will be aimed at "U.S. citizens and residents in Mexico who wish to acquire a vacation home," Banamex said.
Mortgage loans will be granted by Citibank, also owned by Citigroup, with competitive conditions similar to those offered in that country, Banamex stated.
He added that in its initial stage the program will cover the resorts of Cancun, Los Cabos, Puerto Peñasco, Puerto Vallarta, Punta Mita, the Riviera Maya, the tourist corridor of Rosarito, San Carlos and San Felipe, all in various tourist zones, and later the geographical coverage will be expanded.
Banamex indicated that the loan payment can be made through a single account that the client maintains with Citibank in the U.S.
Banamex Financial Group is a member of Citigroup and has more than 1.500 branches and 5.800 ATMs installed throughout the country.
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