Buying your first home in Mexico City may seem complex, but with this guide, you’ll learn the right steps to successfully access a mortgage loan.
Purchasing a home in Mexico City is one of the most common dreams for those looking to build wealth. However, due to the high property prices, most people need to rely on a mortgage loan. This guide is especially designed for you—someone about to apply for your first mortgage—offering clear, updated information tailored to the real estate market in Mexico City.
What is a mortgage loan?
A mortgage loan is a long-term loan granted by a financial institution for the purchase, renovation, or construction of a property. In exchange, the property itself is offered as collateral.
What are the general requirements to obtain one?
While requirements vary by institution, the most common include:
• Being between 18 and 64 years old
• Verifiable income
• Good credit history
• At least one year of employment history
• Official ID and proof of address
• Property appraisal
• Minimum down payment (10% to 30% of the property’s value)
What types of mortgage loans are available in Mexico?
- Traditional: Offered by banks, Sofomes, or institutions like Infonavit and Fovissste.
- Cofinavit: A combination of an Infonavit loan and a bank loan.
- Apoyo Infonavit: Allows you to use your Housing Subaccount balance as collateral.
- Joint mortgage: Lets you combine income with your partner.
Step-by-Step: How to Get Your First Mortgage Loan in CDMX
- Evaluate your payment capacity
The loan amount depends on your monthly income. It’s recommended that your debt does not exceed 30% of your income. - Check your credit history
A positive credit score will make loan approval easier. - Compare different institutions
Use mortgage loan simulators like those from CONDUSEF or the National Banking and Securities Commission. - Request prequalification
This will help you know how much a lender could offer you and under what terms. - Gather documentation
Each lender has specific requirements, but most ask for: proof of income, bank statements, official ID, and RFC. - Search for your property
Work with a professional real estate agency or reliable property platforms to find rental or for-sale listings in CDMX. - Apply for the loan
Once you’ve selected the property, submit the required documents and sign the contract with the bank.
Best Areas to Buy Property in CDMX in 2025
For those planning to invest in real estate in Mexico this year, the most attractive areas to buy property—according to CDMX real estate data—include:
• Narvarte: Known for connectivity and increasing property value
• Portales: Great balance of price and location
• Del Valle: One of the areas with the best quality of life
• Azcapotzalco: New developments at accessible prices
• Iztacalco: Urban growth and airport connectivity
How to Choose the Best Financial Institution
Compare these elements:
• Interest rate (fixed, variable, or mixed)
• CAT (Total Annual Cost)
• Commissions
• Loan terms (5 to 30 years)
• Prepayment options without penalty
Tip: CONDUSEF offers a free tool to compare mortgage loans.
What Additional Costs Should You Consider?
Besides the down payment, consider these expenses:
• Property appraisal and notary fees
• Taxes (like ISAI)
• Loan origination fees
• Insurance (life, unemployment, damage)
Advantages of Buying Your First Home with a Mortgage
• Start building equity at a young age
• Improve your credit history
• Protection against inflation (property may increase in value)
• Use it as an investment or rental property
Mistakes to Avoid
• Not comparing different loan options
• Forgetting to factor in additional costs
• Choosing a property without checking legal documentation
• Overextending yourself financially
Final Recommendations
• Seek advice from certified real estate agents in Mexico
• Work with well-established companies that sell homes in Mexico
• Use trustworthy real estate websites in Mexico with reviews and testimonials
Guía rápida de Inversiones Inmobiliarias para Emprendedores
Coldwell Banker México https://coldwellbanker.com.mx
- CONDUSEF – Mortgage loan simulator
- Infonavit – Types of loans
