13 Bank Offices in San Miguel

There are a dozen local offices of regional, national and international banks in San Miguel ready to serve residents and visitors. Commercial banks will make construction and permanent mortgage loans to residential real estate buyers according to the specific criteria of each bank.

One bank has a special department dedicated to working with foreigners: BBVA Bancomer, which is owned by a major Spanish bank, makes loans to US citizens through a US subsidiary of its parent. Other banks with offices in San Miguel make loans to foreigners for purchase of real estate. You can expect a loan to value of 50% and an interest rate of 7%. Banks may be unwilling to make long term loans to older borrowers.

Before beginning the process, inquire as to the exact steps that need to be followed so you are aware of all the intricacies at the outset. Speaking to others who have used that bank for a loan will help you to understand the cultural differences that are reflected in the loan process.

Banks, currency exchange firms, and credit unions are regulated by the Comision Nacional Bancaria y de Valores (CNBV), which reports to La Secretaría de Hacienda y Crédito Público (SHCP).

We have included the name of the bank, location, telephone, fax, Executive contact, direct telephone, email, bank ownership, map, and website if available.