After the economic slowdown at the end of the last decade, many of the USA/Canadian lenders stopped financing loans out of the USA and Canada. This had an undesirable impact on real estate sales in our corner of the world for foreign buyers and thus began a shift as many buyers cannot simply buy a home without some sort of financial backing.
Currently there are still no mortgage loans from foreign banks that I am aware of at the time of this Blog. There are mortgage loans from Mexican banks if the qualifying criteria is met (permanent resident, bank accounts with a good history, local credit history, paying taxes in the local tax system and excellent credit and incomes etc.) but be prepared to pay hefty interest rates.
Perhaps investigate a line of credit in the USA/Canada or go to a private lending bank or individual that will offer financing. One other solution that is becoming more popular is to negotiate financing with the seller of the home. This is typically not a long-term solution but rather a bridge for 1 to 5 years at an agreed upon down payment and interest rate using the home as collateral. There are many ways to present an offer with Seller Financing. There are some developments offering financing to qualified buyers. Ask your agent for more information as there is not a one-size-fits-all solution, but there are strategies to help you with the purchase of your home in Los Cabos.