MEXLend Reviews
Victor Gersten
1 contributions
0 helpful votes
Overall Feedback:
Mexlend seems to be a good , but expensive service for those looking for broker to find them a loan to finance a property in Mexico.I have 10 years of banking , credit and financial planning experience in the US, so this review would come from an American perspective. I first contacted Luciano at Mexlend around November of 2017. He’s a representative of Mexlend. I was made aware that they will help me finance a condo in Puerto Vallarta and I was even quoted an interest rate and amount for down payment after I provided some basic information such as income verification, credit report and so on. I was very pleased with the quick service since it took them about a day to give me an “approval email “ I wired 2% of the purchase price ($170,000 usd ) so it was about $3,400 usd . I was told this would go toward closing fees. The situation changed quickly after I wired funds to Mexlend which they have a Bank account in the US. After I wired the funds , my file was sent to a lender (BBVA) and I was told to speak to a loan officer from BBVA. I was very surprised as I thought that my loan was approved already . However , the surprised is that I had to actually start a credit application with BBVA. I would have lot mind this until I found out that I had just paid $3,400 usd just to be given the contact information for BBVA. Wow! That’s right , I paid $3,400 usd just to be given the email and phone number of BBVA for them to process my loan . I decided to go another route for my loan in order to buy my property in Puerto Vsllarta and when I asked for my money back since I never did the loan , they said I’m not entitled to any money back . Their contract does say that the 2% fee is charged upon approval of the loan which I was never approved by BBVA. Either way , save yourself sometime and do your own research , don’t pay $3,400 or more just to get information you can get from google for free or by calling a few banks for free.
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