How are Mexican mortgage payments calculated?

They use the standard amortising loan formula: monthly payment = P·i / (1 − (1+i)^−n), where P is the loan, i is the monthly rate (annual ÷ 12) and n is the number of months. Each payment covers interest first, with the rest reducing the balance.

What deposit do I need to buy in Mexico?

Most Mexican banks lend up to 80–90% of the property value, so a 10–20% deposit (enganche) is typical. A larger deposit lowers your loan-to-value, your monthly payment and often your rate.

What is INFONAVIT and FOVISSSTE?

They are Mexico's public housing funds. INFONAVIT serves private-sector workers and FOVISSSTE serves public-sector employees, both funded by mandatory payroll contributions. Their loans can be combined (cofinanciamiento) with a bank mortgage.

The CAT (Costo Anual Total) is Mexico's legally required all-in annual cost measure. It folds the interest rate plus fees and insurance into one comparable percentage, so a 12% CAT is higher than a 12% headline rate once costs are included.

Are my figures sent anywhere?

No. The calculation runs entirely in your browser. Nothing you enter is uploaded or stored, so you can model your finances privately.

Mexico Mortgage Calculator

Email me this result

Get this tool's output sent to your inbox, plus one useful tool a week. No spam, unsubscribe any time.

This Mexico mortgage calculator estimates the monthly payment, total interest and loan-to-value on a Mexican home loan (crédito hipotecario), using local norms for rates, deposits and terms. It works for bank mortgages and for the public housing funds INFONAVIT and FOVISSSTE.

How it works

A mortgage is an amortising loan repaid in equal monthly instalments. The payment comes from the annuity formula:

payment = P × i / (1 − (1 + i)^−n)

where P is the loan amount (price minus deposit), i is the monthly interest rate (annual rate ÷ 12) and n is the number of monthly payments (years × 12). Early payments are mostly interest; later ones mostly principal. Mexican bank loans commonly quote a CAT (Costo Anual Total) of roughly 10–13%, which already bakes in fees and insurance.

Example

A MXN 2,000,000 home with a 20% deposit (MXN 400,000) leaves a MXN 1,600,000 loan. At a 12% annual rate over 20 years (240 months), the monthly rate is 1%. The monthly payment is about MXN 17,617, and over the full term you repay roughly MXN 4.23M — about MXN 2.63M of it interest.

Notes

The deposit norm of 10–20% is a guide, not a hard rule; some products go higher. The headline rate you enter is not the same as the CAT, which adds fees and insurance, so always compare lenders on CAT. This tool excludes property tax (predial), maintenance and transfer taxes — model those separately. It is an estimate, not a loan offer.