Who buys and where
- Primary corridors: Texas (San Antonio, Houston, Dallas, border markets) plus Miami and Orlando in Florida.
- Buyer mix: industrial and business wealth diversifying into dollar rentals; families with US-educated children buying near universities.
- Many buyers drive to their properties, Texas border proximity makes self-management realistic.
- TN visa holders and L-1/E-2 investors have expanded loan options beyond pure foreign national programs.
Financing without US credit
Foreign national loans are built for exactly this: 25–30% down is typical, with qualification on passport, visa status, and documented reserves instead of a US credit score. See foreign national loan requirements › Investors buying rentals can also use DSCR loans, which qualify on the property’s rental income.
ITIN
Most financed purchases and US tax filings require an Individual Taxpayer Identification Number. File Form W-7 with the IRS (passport required); many buyers complete it alongside the purchase with help from the title company or a CPA.
FIRPTA withholding on sale
When a foreign person sells US real property, the buyer must withhold 15% of the gross sale price and remit it to the IRS. This is a withholding, not the final tax. File a US tax return to compute the actual gain and claim any refund. Plan for it in your exit math from day one.
Moving money from Mexico
MXN→USD transfers run through Mexican banks or casas de cambio with standard documentation; large transfers need source-of-funds support (business income, property sale, savings). Many Mexican buyers already hold dollar accounts (including in US border banks), which simplifies seasoning. For financed purchases, US lenders want the down payment seasoned in a US account, plan the transfer 60+ days before closing. Compare FX spreads: Mexican banks’ retail spreads on large transfers add up.
Remote closings & power of attorney
You do not need to be in the US to close. The standard structure: a US bank account for wires, a power of attorney authorizing your representative, and a mail-away/remote closing coordinated by the title company. Lenders and title companies handle foreign-buyer remote closings routinely.
Managing from abroad
A Florida property manager handles leasing, maintenance, rent collection, and bill payment; you oversee from monthly statements. Interview 2–3 managers, verify their foreign-owner experience, and confirm how they handle security deposits and tax documents (1099-MISC / 1042-S).
Tax overview
Mexico taxes residents on worldwide income. US rental income and gains need Mexican reporting with foreign tax credits under the treaty. Business owners should coordinate the purchase with their Mexican corporate structure, personal vs. entity ownership has real consequences on both sides.
Tax notes on this page are general information, not tax advice. Cross-border taxation is complex, consult a CPA or tax attorney licensed in the relevant jurisdictions before structuring your purchase.
Popular areas
- San Antonio, The default market for Monterrey capital, single-family rentals.
- Houston, Diversified economy; strong Mexican business community.
- Miami, Condos and pre-construction for Mexico City buyers.
FAQ
Can Mexicans finance US property without a US visa?
Foreign national loans typically require valid entry status (B1/B2 common). TN/L-1/E-2 holders often access broader programs, including conventional with US tax residency.
Is an ITIN hard to get from Mexico?
No, Form W-7 with passport, often processed alongside the purchase. Many title companies coordinate it.
Should I buy in Texas or Florida?
Texas offers proximity and no state income tax; Florida offers the Miami market and tourism-driven rentals. Many Mexican investors hold in both.
How does FIRPTA work for Mexican sellers?
15% withholding on gross sale price for foreign sellers, reconciled on a US return, standard across nationalities.