MX Mexico · Housing affordability
How much house can I afford in Mexico?
A household in Mexico with gross income of MXNa year, with MXNin savings available, can afford ...
Maximum purchase price . Bank affordability check
MXN 941k
Bound by your income (30% rule) · MXN 800k mortgage on MXN 141k down
The two rules
Mexico has two rules. Both must be met.
Mexican banks use a practical 30% cap on mortgage payments relative to gross income. Without enough cash for the enganche and closing costs, you will not get past the credit committee.
30%
Maximum payment-to-income
Total monthly mortgage payment cannot exceed 30% of gross household income. This is the standard enforced by virtually every Mexican bank.
payment <= income x 0.30
15%
Required down payment (enganche)
Banks typically require 10-20% of the purchase price as enganche. We model 15% as the practical minimum for most bank loans.
enganche >= 0.15 x price
Have a place in mind?
Drop in a price and see where it fails.
Each test is independent: you need to clear both. The 30% income rule limits your monthly payment; the down payment rule ensures you have cash for the enganche and closing costs.
MXN
1 of 2 tests fail.
30% income ruleshort MXN 110k
You have MXN 400k/yrNeed MXN 510k/yr
15% down paymentpass
You have MXN 300kNeed MXN 180k
The lever you can actually pull
Two ceilings. Whichever is lower wins.
With your savings fixed, the price you can afford scales linearly with income — until the down payment rule starts to bind. Above the kink, more salary will not buy you a bigger place; more savings will.
What you can affordIncome limit (5.6× gross)Total down (5× cash + pension)
Your monthly budget
What you would actually pay each month.
Mexico uses the actual rate — no stress test. Your monthly payment at 10% over 20 years is what you qualify on and what you pay.
Monthly headroom
0
The stress test charges you 1.0× what you will actually pay. That spread is what you have, in theory, to absorb a rate cycle, or invest, if you would rather.
Where this lands you
Median apartment price, by city.
Your purchase-price ceiling (drawn in cyan) cuts across the median apartment price in Mexico's major cities. Cities above the line are out of reach without more income or more savings.
Ciudad de Mexico
MXN 4.50M
Monterrey
MXN 3.80M
Guadalajara
MXN 3.90M
Cancun
MXN 3M
Queretaro
MXN 2.80M
Tijuana
MXN 2.60M
Merida
MXN 2.50M
Puebla
MXN 2.20M
Leon
MXN 2M
Within reachOut of reachYour ceiling · MXN 941k
Before you sign
This is probably the largest financial commitment of your life.
A home purchase is not just the price tag. There are significant costs on top that are not included in the affordability test above.
2-5%
ISAI / acquisition tax
The Impuesto Sobre Adquisicion de Inmuebles varies by state (2% in some, up to 5% in others). This is paid at escrituracion and is not financeable.
3-5%
Notary and registration fees
Notarial fees, avaluo (property appraisal), and Registro Publico de la Propiedad fees add another 3-5% of the purchase price at closing.
?
Predial + maintenance
Annual predial (property tax) is low by international standards (0.1-0.3% of assessed value) but maintenance and HOA fees for apartments can add MXN 2,000-8,000/month.
None of this means you should not buy. It means you should go in with open eyes. The affordability test tells you what you can do. Whether you should depends on how long you plan to stay and your alternative investments.
For scale
What else costs about MXN 941k?
- A new VW Jetta Comfortline · MXN 450k2.09×
- A complete kitchen renovation in a CDMX apartment · MXN 350k2.69×
- A new Mazda CX-5, fully loaded · MXN 650k1.45×
- A house in a mid-size city like Leon or Aguascalientes · MXN 1.50M0.63×
- MXN 10,000/month invested at 8% real for 15 years · MXN 3.50M0.27×
- A two-bedroom apartment in Monterrey's San Pedro Garza Garcia · MXN 4M0.24×
See the full income x down payment matrix
income (down) / savings (right)
MXN 30k
MXN 60k
MXN 100k
MXN 200k
30,000/yr
MXN 71k
income-bound
MXN 71k
income-bound
MXN 71k
income-bound
MXN 71k
income-bound
50,000/yr
MXN 118k
income-bound
MXN 118k
income-bound
MXN 118k
income-bound
MXN 118k
income-bound
80,000/yr
MXN 188k
income-bound
MXN 188k
income-bound
MXN 188k
income-bound
MXN 188k
income-bound
120,000/yr
MXN 200k
savings-bound
MXN 282k
income-bound
MXN 282k
income-bound
MXN 282k
income-bound
180,000/yr
MXN 200k
savings-bound
MXN 400k
savings-bound
MXN 424k
income-bound
MXN 424k
income-bound
Gross income used. 20-year term at 10%.
Quartet . Portfolio trackerFree account
You have the enganche. Now grow it.
Track every account that feeds into your enganche: bank accounts, CETES, fondos de inversion — all in one place. We re-check your affordability against your live balances every night.
Daily mortgage-readiness score
Multi-currency, multi-bank
Read-only access
No card requiredCancel anytimeSwiss-hosted data2-minute setup
Next steps
Tools and guides to get you there.
Mortgage calculatorBuild an amortization schedule with extra payments. See total interest and how fast you pay it off.CalculateSavings goal plannerSet your down-payment target and a deadline. We back-solve the monthly savings rate you need.PlanCompound interestSee how your down-payment savings grow over time. Visualize the difference one extra year makes.ProjectBuying your first homeA step-by-step guide covering down payments, mortgage options, and the true cost of homeownership.Read
Frequently asked
Mexican banks use a guideline that your total monthly mortgage payment should not exceed 30% of your gross household income. Unlike some European countries, this is a practical limit enforced by banks rather than a hard regulatory cap, but virtually no bank will approve a loan that breaches it.
Infonavit (Instituto del Fondo Nacional de la Vivienda para los Trabajadores) is a government housing fund. Every formal-sector employer contributes 5% of each worker's salary. Workers accumulate a balance (subcuenta de vivienda) they can use as a down payment or combine with their Infonavit credit. Infonavit rates are lower (~9% vs ~10% for banks), terms can stretch to 30 years, and down payment requirements are more flexible. However, maximum loan amounts are capped and may not cover properties in expensive cities.
Cofinavit is a combined mortgage product where Infonavit and a bank each provide part of the loan. This allows workers to access a larger total credit than Infonavit alone could provide, while still using their accumulated subcuenta de vivienda balance as part of the down payment. The Infonavit portion typically has a lower rate, and the bank portion covers the rest at market rate. It is popular for mid-range properties in cities where the Infonavit-only cap falls short.
The vast majority of Mexican mortgages — both bank and Infonavit — are fixed rate for the full term. This is a significant advantage: in a country with historically volatile inflation, locking in at ~10% means your payment never changes in nominal terms. Some banks offer variable or mixed-rate products at slightly lower initial rates, but these are uncommon and generally not recommended given the interest-rate environment.
Escrituracion is the notarial and registration process for transferring property title. Total closing costs typically run 5-10% of the purchase price and include: ISAI (Impuesto Sobre Adquisicion de Inmuebles, the acquisition tax, 2-5% depending on the state), notary fees (1-3%), appraisal (avaluo, MXN 5,000-15,000), and registration fees. These costs are not financeable and must come from your savings on top of the down payment.
Plusvalia refers to capital gains on real estate. In Mexico, when you sell a property for more than you paid, the gain is subject to ISR (income tax). However, primary residences are exempt up to approximately 700,000 UDIs (~MXN 5.6 million at current values) if you have lived there for at least 3 years. Above that threshold, a notary withholds ISR at sale. Understanding plusvalia also matters for investment: cities like Queretaro and Merida have seen rapid appreciation, while some established markets have stagnated.