Yave will give mortgage credit to foreigners looking for a house in Mexico

Yave will give mortgage credit to foreigners looking for a house in Mexico

They say that crises also represent opportunities and given the panorama that is presented in the real estatethe platform Yavededicated to granting mortgage creditplans for this 2023 to expand its product portfolio and grant at least 2,500 million pesos in financing.

Last November, the platform closed a seed round of financing for 7.5 million dollars, in order to strengthen its platform of custom creditsso for this 2023 it is preparing to expand its offer for foreigners looking to buy a house in Mexico, as well as a product in alliance with public housing organizations.

For Bernardo Silva, co-founder of the proptech, although interest rates have gone through a period of uncertainty, in terms of mortgage credits marginal movements are expected in this regard, which makes for a more stable outlook.

“We come from a period of great uncertainty on the issue of interest rates, but regarding the issue of real estate loans it is beginning to stabilize and we are going to see mortgages with less variability, in our case, we are projecting that they remain between 9% and 11% per year,” Silva commented.

Now Yave carries out the entire process of placing a mortgage credit digitally, so with the investment received it will seek to speed up the approval of financing throughout the process, from the collection of information and documents, to the approval and dispersal of resources.

The signing process, which has a presence in 20 states of the country, takes a period of three weeks, from pre-approval to the formalization of financing.

Bernardo Silva, co-founder of Yave. Photo: Courtesy

New products

Within the plans Yave For this year there is the launch of a digital product, in alliance with Infonavit, as well as financial products for foreigners with or without residence in Mexico.

It should be noted that after the arrival of the pandemic, foreign citizens saw the opportunity to live in some cities in Mexico, so the real estate market in those cities immediately began to adapt to the new demand.

Thus, the firm, with more than five years of operation and more than 1,000 active clients, will seek to take advantage of its investment that it received in November 2022 for 7.5 million dollars led by Better Tomorrow Ventures and Metaprop and where Goodwater, Activant also participated , Moore Capital, Fintech Fund, Cross River, Vinte, Magma Partners, DILA Capital and Mexican VC Wollef.

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