The scope of mortgage in Mexico

In Mexico, the mortgage industry is regulated by Sociedad Hipotecaria Federal, which

according to its web site, is an institution created in October 11th 2001 to promote the
development, building construction, acquisition and improvement of the primary and
secondary market of house credits. This organization operates through financial
intermediaries (such as banks, saving institutions and financial corporations) who grant
and manage the credits through all the process. It is important to add that this
organization is regulated by the Ley Orgnica de Sociedad Hipotecaria Federal S.N.C.
Federal Law on the Federal Mortgage Society.
Banks that do mortgages in Mexico and their interest rate according
to T Decide, 2016:
Bank

Annual Interest rate (range)

Fixed interest

BBVA Bancomer

9.5 to 10.8%

Santander

10.45 to 10.53%

Scotiabank

7.5%

HSBC

9.69 to 10.19%

Banorte

9.7%

Banamex

8.5 to 10.5%

Afirme

10.6 to 12.8%

BanBajio

8.61 to 15.25%

Banregio

8.5 to 10.5%

Inbursa

10.5 to 15.5%

Banca Mifel

9.99%

Banco Inmobiliario Mexicano

9.6 to 11.59%

Banco Ve Por Ms

8.9 to 10%

Variable interest

Conforming to El Financiero newspaper (2015)*, the figure of a mortgage broker in

Mexico is considered very popular since 1 out of every 3 mortgages in Mexico were
collocated by a broker last year; another point that must be considered is that there are
some benefits from the brokers to the clients, such as:
1. - Personal attention for selecting a credit that adjusts to clients possibilities.
2. - No payment needed while they counsel and visit the clients interested, because the
banks that offer the mortgage credits give the brokers a commission for each credit
collocated.
3. - Saving money and time by avoiding visiting the bank offices themselves.
The newspaper Dinero En Imagen (2016)** assures that more than 40% of the total of
mortgages credits are collocated by brokers in the Mexican market. And, just as a matter
of fact, Banamex (2016), which is a very important bank in Mexico, published that its
mortgage credits collocated by brokers increased to 140% in the last year. Therefore,
brokers are a significant figure in this country and they are increasing their presence each
year in the mortgage market.
Conforming to Real Estate magazine (2015), consequently to its increase, the Mexican
brokers had the necessity of gathering into an association, then in 2014 Sociedad
Hipotecaria Federal created the Asociacin Nacional de Agentes Hipotecarios de Mxico
(ANAHM) National Association of Mortgage Agents of Mexico, which is an institution
that certificates mortgage brokers through several tests, including: ethics, financial math,
legal aspects, appraisals, etc., It is also worth noting that this association only accepts
legal entities to be certified as brokers.
Mortgage brokers in Mexico (Information taken from LinkedIn, 2016):
Name

Agency

Location

Contact info (web site/e-mail and

national phone number)

Leonardo Orozco
Fernandez

Grupo AJ&N
Profesionales
Inmobiliarios

Tehuacn, Puebla,
Mexico

www.grupoajn.com
lorozco@grupoajn.com
(238) 138-15-81

Eduardo Garibay
Nogueda

Su Hogar Inmobiliaria

Tlalnepantla, Mexico
City, Mexico

broker.inmobiliario.hipotecario@outlook.es
01 55 1801 3344

Juan Rivera
Alcntara

Easy Homes Services

SA de CV

Boca del Rio,

Veracruz, Mexico

www.easy-homes.com.mx
contacto@easyhomes.com.mx
01-229-922-3000

Carlos Antonio Del

Olmo Abaunza

Qu financiamiento

Monterrey, Mexico

quefinanciamiento.com
info@quefinanciamiento.com
52 81 1453-0152

Gerardo Enriquez
Campos

GFH S.A. de C.V.

Mexico City, Mexico

www.gfhipotecario.com.mx
5543 3644

Veronica Roiz
Andrade

Solidez Hipotecaria

Puebla, Mexico

solidezhipotecaria.com
(222)240-5389

Alejandra Castro
Talavera

SOC Asesores

Mexico City, Mexico

www.socasesores.com
contacto@socasesores.com
55 1102 4511

Alba de la Rosa

Salud Patrimonial

Zapopan, Jalisco,
Mexico

www.saludpatrimonial.com
33 36159976

Jos Mondragn

Opcin Financiera

Mexico City, Mexico

www.opcionfinanciera.com.mx
1055-7460

Maria Elena Alonso

Merlos

Soluciones
Hipotecarias

Mexico City, Mexico

contacto@solucioneshipotecarias.com.mx
9000 5540

Economical index

Location

Exchange rate
(09/Nov/16)***

Mexico City
Outside of Mexico City

19.9250

Average salary earned by a profesionist

(monthly estimated, before taxes)
Mexican pesos

Equivalency in US dollars

15,116.00

758.6449

10,814.00

542.7352

The chart above was made with information from Banxico (2016), and an article in Dinero
en Imagen by Ponce, K. (2016).
It is important to notice that, conforming to the 2016 information from an article in
Investopedia by Folger, J., the average amount of money a couple need to live in Mexico
is up to 2,300.00 dollars, which with a (19.9250 Mexican pesos/1 US dollar) give a result
of 115.4328 US dollars monthly; this price considers: housing (2 bedroom apartment
rent), utilities (electricity, water, gas, internet, tv cable, and phone bill), groceries,

entertainment (activities like dining out), health care (two people with IMSS insurance and
70 dollars extra for incidentals)****, household help (maid and gardener three times a
week), and other incidentals.

Location

Exchange rate
(09/Nov/16)***

Average rent (3 bedroom apartment)

Mexican pesos

Equivalency in US dollars

Mexico City (centre)

19,049.15

956.0426

Mexico City (outside the centre zones)

10,675.93

535.8057

10,256.55

514.7578

6,758.34

339.1889

Rest of Mexico (centre)

Rest of Mexico (outside the centre zones)

19.9250

This chart was made with information from Numbeo (2016).

Another relevant aspect to mention is that, according to Gob.mx, which is a governmental
site of information (2016), in this country exists Bur de Crdito, which is a credit
information society that receives information from institutions that grant loans, this
information is later transformed into credit histories in their platform, therefore when an
individual or a legal entity needs a credit, the institutions members of Bur de Crdito can
evaluate and manage the possible risk of granting it, and then determine if it is viable.
Finally, it is important to add that in Mexico, the mortgage brokers do not need a license
to operate, but they are free to join Asociacin Nacional de Agentes Hipotecarios de
Mxico (ANAHM) National Association of Mortgage Agents of Mexico in order to have a
certification in this market, but they are not regulated by any governmental institution yet,
they just have to be registered in the RFC (Registro Nacional del Contribuyente)
National Taxpayer Registration to pay their taxes, but that is the same platform that
everyone in Mexico use to pay taxes (information from Trmites Cmo se hace?, 2016).
Also, another relevant point is that, as of October, 2016, and according to Forbes
magazine, the average mortgage in Mexico is up to 9.28% while the brokers, in average,
can earn a 6% commission (of the total price) when they get a credit product deal (the
commission is paid by the bank that grant the loan).

*Information as of October 2015, El Financiero newspaper is one of the most reliable and
important finances newspaper in Mexico, and also has a major circulation nationally.
**Dinero en Imagen is the financial platform from Excelsior newspaper, another reliable,
big and important newspaper in this country.
***Exchange rate according to Banxico (Mexican Central Bank) in 09/Nov/16.
****IMSS is the main health services provider in Mexico (is also a public institution).

References

Banxico, 2016, Mercado cambiario, tipos de cambio, recovered in October, 2016, from
https://goo.gl/GNcu88
Decide, 2016, Contrata el mejor crdito hipotecario para comprar casa, recovered in
October, 2016, from https://goo.gl/25NHQG
Estate, 2015, Seleccione a su broker hipotecario, recovered in October, 2016, from
https://goo.gl/IHQeB1
Financiero, 2015, Brokers hipotecarios, aliados de instituciones: Banamex, recovered in
October, 2016, from https://goo.gl/z3RMsF
Folger, J., 2016, How much money do you need to retire in Mexico?, recovered in
October, 2016, from https://goo.gl/o3VLUa
Forbes, 2016, Es buen momento para tomar un crdito hipotecario, recovered in
October, 2016, from https://goo.gl/OzK1uj
Forbes, 2016, Razones de oro para no ir por la libre al vender una propiedad, recovered
in October, 2016, from https://goo.gl/Jldfpi
Gob.mx, 2016, Bur de Crdito, recovered in October 2016, from https://goo.gl/8BFF1f
Imagen, 2016, Suben crditos hipotecarios, recovered in October, 2016, from
https://goo.gl/nNKQ1x
LinkedIn, 2016, Broker
https://goo.gl/XgiwUb

Hipotecario,

recovered

in

October,

2016,

from

Numbeo, 2016, Cost of Living in Mexico City, recovered in October 2016, from
https://goo.gl/0JSyA7
Ponce, K., 2016, Las reas donde ganan ms (y menos) los profesionistas mexicanos,
recovered in October, 2016, from https://goo.gl/9zVLWG
SHF, 2016, Descripcin de la Institucin, recovered in October, 2016, from
https://goo.gl/srAhTb
Trmites, 2016, Trmite para ser broker hipotecario, recovered in October, 2016, from
https://goo.gl/ZvZ3LN