In late 2005, the good folks at GE Capital decided to use a "shotgun" approach to releasing their Mexico loan program, and they enlisted an army of Mortgage Brokers from the US to bring money to every far flung foreign market in the country.
Anyone who claims to have a "lending partner" or a loan program that looks like the one below is using GE Capital.
The main aspect for us has been finding the laon broker who can give the best service. We think our experience proves that there is lots of room for improvement, and that this infant industry has lots of room to grow!

TERM: 20 YRS – FULLY AMORTIZED
RATES: 7.99 % FIXED FOR FIRST 4 YEARS. 6 MONTH LIBOR + 4.5% FOR THE REST OF THE TERM.
CAP: 12.99 %
ORIGINATION FEE 2 %
MAX LTV 70 %
MAX LOAN AMOUNT 1 MM & 1.5M
Minimum Credit scores: 700
Rate Caps: The loan is subject to interest rate adjustments (up or down) after the initial fixed period. The
adjusted interest rate may never be greater than the note rate +5%. The loan can never adjust lower than the
margin.
Doc Types: Full Doc only
- For Wage Earners: require 2 years tax returns or W-2 with current pay stubs or 2-years bank statements.
- For Self Employed: require 2 years personal or business tax returns
Property Types: Single family residences, Planned unit, and condos only. Primary residence and second
homes only
Underwriting: Underwriting Guidelines apply unless noted differently within guideline matrix. Available only
for US Citizens with qualifying credit.
Ratios: Maximum DTI (Debt to Income) 40%. Maximum PTI (Payment to Income) 35%
Credit Criteria
• No Bankruptcy, Foreclosures in the past 7 years (if beyond 7 years, must have re-established good credit
with minimum of 3 trade lines).
• No outstanding judgments or credit accounts (medical judgments can be reviewed on an exception basis)
• No 30-day mortgage lates in last 12 months.
• 60-day mortgage lates not permitted.
• All mortgage and consumer credit accounts must be current at the time of closing and any derogatory credit
must have a reasonable explanation.
• First time require a 12-month rental history with no 30-day late.
Employment
• Available for wage earners, self-employed or commission-earning employees.
• Must be employed for a minimum of 2 years in the same business
• Must be commissioned with same employer for a minimum of 2 years.
• All self-employed borrowers must provide verification of business operation through CPA letter or current
and prior year business license required.
• For commission-earning employees, greater than 50% of income must be generated from commissions.
• If bonus income is also received, it will count toward the commission requirement
Income
• Borrower must sign 4506
• Borrower’s income is calculated from last two years tax returns or W-2 stubs.
• The income must be reasonable for the business profession, for the assets reported, and for the type and
length of employment.
Assets and Reserves
• Down Payment, Closing Costs, Prepays, and Reserves
• Funds for down payment, closing costs and 4 months PITI must be verified by VOD or 2 months statements
Seller Contributions: Allowed up to 3%
Prepayment Penalties: Prepayment penalty applies for the first 3 years @ 3% of the prepaid amount. Buy-
out permitted for 2% upfront fee.

Program Two

20 year fixed rates
Minimum Credit scores: 680
Maximum loan to value (LTV): 65% (minimum purchase price $500,000)
Minimum loan amount: $300,000.00
Maximum loan amount: $1,000,000.00
INTEREST RATES: 50% Down Payment – 7.375% 40% Down Payment – 7.625% 35% Down Payment –
7.750%
Loans above $500,000 require 40% down payment and interest rate of 7.875%
Loans above $800,000 require 50% down payment and interest rate of 7.750%
ORIGINATION FEE: 2.5%
Pre-payment penalty: 3%, 2% and 1 % for years 1, 2 and 3 respectively