Home loan: can it be purchased without a down payment?

When it comes to mortgage loans, there is a universe of questions that users usually ask themselves, the most common refers to the possibility of obtaining financing when the down payment is not available.

There are organizations that offer the method of taking out a loan without having to pay a down payment; however, they are very few and their financing schemes are structured to grant you the money until you save with them.

In the following article, we will tell you why it is important to have a down payment to request a mortgage loan.

How does providing a down payment benefit you?

When you are going to acquire a property, generally the financial institutions that grant you mortgage credit request a down payment equivalent to a minimum of 10% of the value of the property, because it is a way to minimize the risk by granting you up to 90% financing so that buy your house.

From the amount of the down payment, the term of the credit, as well as your type of economic activity (example: salaried, Natural Person with Business Activity, Independent, etc.), the amount you will pay in your monthly payments will be determined as well as the rate of interest that fits your profile.

What is a fact, while higher the hook more favorable will be the conditions of your credit (level of interest rate, monthly, etc.), therefore it is always advisable that acquiring such opts debt provide a considerable initial sum.

The down payments fulfill another benefit; For example, suppose that for 5 years you have been saving to buy a house, but when you draw up accounts you detect that the amount you have will not be enough to obtain your property.

If during five years you managed to save 200 thousand pesos, do not be discouraged, because from that amount you can take 100 thousand pesos for the down payment of a house with a value of 1 million pesos and occupy the other 100 thousand pesos for notarial expenses, and with That is to achieve the mortgage credit that supports you with 90% of the value of the property.

Therefore, down payments are a key piece when processing a mortgage loan.

Minimum down payment

In general, in Mexico, financial institutions grant a loan of 80 to 90% of the value of the house you want, so the remaining amount, as well as the notarial expenses (approximately 10% of the value of the property), must come from your savings.

Each company evaluates the down payment based on different factors, some take into account the applicant’s salary and the housing subaccount they have.

Others ask you for 10% of the total amount of the loan; this option is the most common within financial institutions.

For example, if you request a loan of one million, the 10% down payment will be 100 thousand pesos.

Remember that the higher the engagement, the lower the monthly payment, so it is recommended that before buying a considerable amount of saved credit is taken.

When you apply for your mortgage loan, the financial institution will be in charge of determining if you actually have 10% of the down payment in your account as well as the other 10% of the notarial expenses. If this is the case and you meet all the requirements of the financial institution, it is likely that your credit process will begin immediately.

How to put it together for the hitch?


There are financial institutions that help you save your money and make it grow through investment funds or with interest.

One option is to investigate this type of savings bank that will allow you to increase the budget that you want to allocate to the down payment of your house.


Another option is to save in a private way, but you have to be very responsible and put all your effort to be able to collect that 20% of the value of the house you want (10% down payment, 10% notarial expenses).

The recommendation is to set what your fixed expenses are and recognize the unnecessary money leaks that you have on a monthly basis.

Separate the income from your business, from those that are really yours, this in addition to helping you save, will facilitate the financial verification of income.

What option do I have if I don’t have initial savings? 

At ION Financiera the most important thing is you, therefore, if you do not have initial savings for your down payment or you are not at 100 in the Credit Bureau we have an option for you: ION Tu Casa

At ION Tu Casa you will have great advantages such as:

  • No initial savings: You do not need to have a 20% down payment to acquire a property.
  • Forget about the Credit Bureau: If your biggest concern is your status in the Credit Bureau, you no longer have to worry, because at ION Tu Casa we do not take it into account.
  • Low installments: They are up to 30% less than those of a mortgage loan, this financing scheme is designed so that you do not lose capital.
  • Flexibility in income verification: As with ION Financiera, at ION Tu Casa we have non-traditional income verifications that, we are sure, will adapt to your lifestyle.