Get a Mortgage in the Dominican Republic

A major international bank is now offering mortgages for residents of the UK, Canada and the US who are buying a second home in the Dominican Republic. This is a new program but we have had several clients who have successfully purchased homes using this mortgage program.  

Following is some information from the bank concerning their mortgages:

Home Loan to buy property in the Dominican RepublicLoan Information:

  • Maximum loan amount is 75% of appraised property value.
  • Maximum finance term is 25 years.
  • Interest Rate is 8% annually.
  • Minimum age to apply is 21 years of age

 

 

Dominican Mortgage Broker Documents required: 

  • Copy of passport
  • Last 2 income tax statements
  • Authorization to issue a Credit Bureau Report from the customer's country of residence
  • Income letter, if an employee
  • Evidence of assets in your country of residence (must be US, Canada or UK)
  • Insurance assignment
  • Property Appraisal from an authorized appraiser.
  • Copy of Offer of Purchase & Sale
  • Proof of down payment.

 

Contact us today if you would like some further information!

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