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Fremont, CA: The mortgage industry is undergoing digital transformation. As per experts, two major factors have accelerated this technological shift: the need to address the challenges posed by the pandemic and the increase in tech-savvy home buyers.
MoXi, a technology-driven international mortgage lender, together with Kocomo, an international vacation home co-ownership company, has completed a landmark residential real estate financing transaction. MoXi provided Kocomo with a fixed rate mortgage in US dollars for a residential property in Punta Sayulita, Mexico. The transaction lays the groundwork for clients all over the world to gain even more access to Kocomo's residential co-ownership program.
Moxi's financing capabilities and Kocomo's unique co-ownership structure complement each company's mission to democratize access to international homeownership.
"We are excited to partner with Kocomo by providing residential financing solutions for properties located in Mexico. In many countries around the globe, home financing solutions for foreigners are non-existent, exorbitantly expensive and/or unsafe," stated Alex Koper, MoXi's President and Chief Executive Officer. "As a result, international homeownership is often reserved for those with the financial ability to pay cash while excluding creditworthy consumers."
"By combining our tech-enabled co-ownership offering with MoXi's efficient and transparent financing solution, we are dramatically expanding consumer access to the life-changing benefits of international real estate ownership," commented Thomas Baldwin, Co-Founder and CFO/COO of Kocomo. "We are thrilled to be the first company to offer US and international customers the ability to purchase co-ownership interests in Mexico with attractive financing, and additional markets are on the horizon," added Baldwin.