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Goods and Services > Mortgage Loans
Cash loan with mortgage security
In order to consolidate the welfare services offered by the NACIONAL MONTE DE PIEDAD, I.A.P. the Honorable Board of Trustees decided to offer the service of Cash Loans with interest and mortgage security under the following general conditions:
Cash Loans
These are loans for an open purpose, thus you may decide how to use these monetary resources. The Nacional Monte de Piedad offers this service having a social welfare, non profitable purpose. We offer personal attention and specialized consultancy which will help you to solve by phone or at the Mortgage Operation Deputy Direction Office, any doubt during the loan’s validity.
Present Coverage
This service is offered in Mexico City and its Metropolitan Area, Toluca and Metepec. Your house or apartment can be offered as security. You must be living there.
Loans up to 300 thousand pesos
We offer loans from 50 thousand up to 300 thousand pesos, as long as these loans do not exceed 25% of the commercial value of the property offered as security.
Period
The period to pay is 3 years and it can be extended if both parts agree to do so.
Security
The applicant’s property must be free of encumbrance or any title limitations (such as mortgage or seizure), and the ownership certificate must be registered in the Public Property Register. The valuation of the property will be performed by a qualified person authorized by this Institution.
Rate of Interest
The rate of interest is changeable, and it takes as a reference the Balance Interbank Rate of Interest (TIIE: Tasa de Interés Interbancaria de Equilibrio) which is published by the Central Bank (Banco de México), adding the points that are in force when the Mutuum Contract is signed.
Costs
The applicant must cover the costs corresponding to the valuation and the research made by the credit bureau.
Mortgage Costs
The costs (related to certifications, registrations, notarial and administration fees) can be added to the loan amount if it is convenient for the applicant and they are paid until the resources are authorized and given.
Monthly payment
The debtor must pay a monthly interest adding tax, insurance premium, (life and damages), and the obligatory repayment of the principal. These amounts will be published through a monthly account statement.
No punishment for prepayment
You will be able to repay any amount to the principal whenever you wish, and will have no punishment for doing so. Any payment will reduce proportionally the interest that you will have to pay, since it is always charged on the outstanding balance.
Safety for your Patrimony
The definite scopes and precisions will be established in the Mutuum Contract that will be signed before a public notary. The applications will be processed in the Mortgage Operation Deputy Direction Office of the Nacional Monte de Piedad
Documents required
- Loan request form
- Health questionnaire
- Credit Bureau consulting authorization form
- Ownership certificate
- Receipts of the property tax payments corresponding to the last 5 years
- Water consumption receipts corresponding to the last 5 years
- Official Identification Card
- Marriage Certificate, (if married)
- Birth Certificate
- Address proofs (such as telephone, gas, cable tv or lighting service receipts)
- Income proofs (legal or informal activity)
- Pictures of the property (outdoors and indoors)
If you bought the land and built the property:
- Alignment certificate (constancia de alineamiento) and official number
- Construction license
- Building work termination testimony
The authorization is subject to conditions in force
Forms to be printed
Loan request form
Health Questionnaire
Credit Bureau
Mortgage Operation Deputy Direction Contact
Phone numbers:
5662-4707 / 5662-4948
5662-4919 / 5662-2203
Address:
Guty Cárdenas # 121, Primer piso, Colonia Guadalupe Inn, Delegación Álvaro Obregón,
CP 01020
México, D.F.
( 5 minutes far from the “Barranca del Muerto” metro station) |