Santander vs Banorte: mortgage
| Santander | Banorte | |
|---|---|---|
| APR (CAT) | 12% | 11.8% |
| Amount | $500k–$13M | $400k–$12M |
| Term | 5–20 años | 5–20 años |
| Minimum income | $25,000 | $25,000 |
| What sets it apart | Frequent mortgage campaigns with initial bonus | Flexibility with non-salaried profile and mixed-rate option |
When to pick Santander
Santander wins in a campaign window — the bank launches mortgage promotions 2-3 times a year with initial bonus (1-3% of the amount) that effectively reduces total cost. If the signing can wait for one of these windows, it's cheaper than regular Banorte.
When to pick Banorte
Banorte wins outside Santander campaigns. APR 0.2 points lower and better service for non-salaried with tax package. For Monterrey corridor residents with previous bank relationship, the natural option.
My recommendation
Wait for Santander campaign: Santander with bonus. Outside campaign or non-salaried: Banorte.
How we compare these two
The figures in the table — CAT, amount, term — come from each institution’s public rate sheet, not from us, and the commercial relationship never changes them. The «cheaper» verdict weighs the total cost for a standard profile; your own CAT depends on your Buró and income, so treat the numbers as a starting point and confirm the final terms on the lender’s site before signing. The order of offers across the site follows our published methodology.
Read the full editorial review of Santander or Banorte before deciding.