How Much Down Payment Do I Need to Buy a Home in Mexico?

The down payment (enganche) is usually the first big hurdle between you and the home you want. It's the portion of the price you pay out of your own pocket, while the rest is covered by the mortgage loan. Knowing how much you need to save is key to planning your purchase realistically and avoiding surprises. In this guide, updated for 2025-2026, we explain how much banks require, how INFONAVIT lets you buy with almost no down payment, and how to build up that money step by step.

What is the down payment and why does it matter?

The down payment (also called the initial payment or "enganche") is the percentage of the home's value that you contribute yourself, without financing. If a house costs 2 million pesos and you put down 20%, you contribute 400 thousand pesos and the bank lends you the remaining 1.6 million.

Beyond being a requirement, the down payment serves two important purposes: it shows the bank your ability to save, and it reduces the amount you finance, which translates into lower monthly payments and less interest paid over the loan term. In general terms, the larger your down payment, the better the terms you can negotiate.

How much down payment do banks require in Mexico?

Most banks in Mexico finance up to 80% or 90% of the home's value, which means the typical down payment falls in a range of 10% to 20% of the price. The exact figure depends on the bank, the type of loan, your credit profile, and the appraisal value.

As a general market reference for 2025-2026, these are the most common ranges. Treat them as approximate, since each institution adjusts its own policies and it's best to confirm directly with the bank:

Some institutions offer promotional programs with down payments as low as 5% for specific profiles, although they usually come with different rates or conditions. Before committing, compare several options; you can start with our 2026 mortgage loan comparison.

INFONAVIT and Cofinavit: buying with almost no down payment

The big advantage of an INFONAVIT loan is that, in many cases, it lets you buy with practically no down payment. The amount the Institute authorizes for you can cover the value of the home, and your Housing Subaccount (Subcuenta de Vivienda) works as your initial payment.

The important nuance is this: if the price of the house exceeds the amount you're granted, you'll have to cover the difference out of pocket, and that difference works as a down payment. That's why it makes sense to choose a home whose value fits your authorized loan.

Example with amounts: a 2 million peso home

To make the numbers concrete, imagine you want to buy a house valued at 2,000,000 pesos with a bank loan. Here's what your down payment would look like at different percentages:

• 10% down payment: you put in 200,000 pesos and finance 1,800,000.
• 15% down payment: you put in 300,000 pesos and finance 1,700,000.
• 20% down payment: you put in 400,000 pesos and finance 1,600,000.

As you can see, the difference between a 10% and a 20% down payment is 200,000 pesos in cash. Putting more down upfront reduces the financed principal and, with it, the total interest; putting less down lets you keep more liquidity, but makes the loan more expensive over the long term. The decision depends on your financial situation and how much you can save without draining your resources.

Closing costs are separate from the down payment

A very common mistake is saving only for the down payment and forgetting the deed and closing costs (gastos de escrituración y cierre), which are paid separately. These usually amount to an additional 6% to 10% of the property's value and include notary public (notario público) fees, the acquisition tax on real estate (ISAI), registry fees, the appraisal, and loan expenses.

Going back to the 2 million peso house example, on top of your down payment you should budget roughly 120,000 to 200,000 pesos for closing costs. It's essential to add them to your total budget. Calculate a personalized estimate with our closing cost calculator and see the details in our guide to notary costs for buying a home in 2026.

How to save for your down payment

Building up your down payment takes discipline, but it's entirely achievable with a clear plan. These strategies will help you reach your goal:

If you contribute to the IMSS, remember that the balance of your Housing Subaccount is already, in a way, savings toward your home. Combining that resource with your own fund can get you to your goal much faster.

Frequently asked questions about the down payment

Can you buy a home in Mexico with no down payment?

With an INFONAVIT loan, it's possible to buy with practically no down payment when the authorized amount covers the value of the home. Traditional banks almost always require a minimum down payment, although there are promotional programs with reduced percentages.

Does the down payment include notary costs?

No. The down payment and closing costs are separate items. Notary fees, taxes, and deed expenses represent an additional 6% to 10% that you must consider apart from your initial payment.

Is it worth putting down more than the minimum?

Putting more down reduces the financed principal, your monthly payments, and total interest, and also makes loan approval easier. However, avoid draining your funds completely: keep an emergency fund after the purchase.