Why doesn’t Transcaribbean Trust Company provide financing?
Transcaribbean Trust Company does not finance the property because we do not own it. The Mexican beachfront is being purchased without financing. Closings vary by sellers but range between 30 and 60 days. With the market moving up almost every 5 weeks, the sellers feel, and rightfully so, that any closing beyond 60 days is like taking back or carrying financing. You may be able to get financing through a Mexican bank but their rates are VERY undesirable. Mexican banks pay about 15% or more for CDs. So they lend at rates in excess of 35%. This is not something that people find affordable. Your best bet is to take money out of the tumultuous stock market or finance a home or other asset in your home country. Often you can even find tax advantages to this like a second mortgage on your primary residence in the US.
