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Can I Get a Mortgage in the Dominican Republic?

For foreign buyers, getting financing in the Dominican Republic is not an easy task. Fortunately, we are here to help you as much as we possibly can!

 

Many buyers choose to obtain a line of credit from their home bank which is the best option because this is generally where you will obtain the lowest interest rates.

 

If financing from your home bank is not an option, there are two types of financing options available in the DR. Seller financing, where the seller/developer is willing to provide the buyer with a mortgage, or traditional bank financing.

 

SELLER FINANCING

Some of our sellers are willing to offer owner financing to buyers. Usually they require at least a 50% down payment and require repayment within 3-5 years. You can see a full list of our properties below where the sellers are willing to offer some financing.

 

 

BANK FINANCING

Scotiabank 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.  

But keep in mind there are stringent qualifications with an average of 1 in 12 being approved. Also the applicant must own a home in North America, therefore this is not an option for the majority of buyers.

 

 

Scotiabank Mortgage Information:Home Loan to buy property in the Dominican Republic

  • Maximum loan amount is 70% of appraised property value.
  • Maximum finance term is 25 years.
  • Interest Rate is 5.95%% annually.
  • Loan applicant must own a first home in Canada, US or UK
  • Minimum age to apply is 21 years of age

 

 Documents required to apply: 

  • 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!

Search Our Dominican Republic real estate listings by clicking here!!


Properties With Owner Financing Available


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PhotoAddressLocationNeighborhoodPriceSizeStyleType
Homes for Sale in Sosua Oceanfront, Sosua, Puerto Plata $850,000
60 photos
Luxury Ocean Front Villa in Sosua Ocean Village FINANCING with only $100k down - Video!! Exclusive Gated Community Sosua Oceanfront $850,000 USD 220 sq. m. Single Story Residential
Homes for Sale in Sosua Hills , Sosua, Puerto Plata $850,000
15 photos
Luxury House with pool in Prestigious gated community Villa with panoramic views Sosua Hills $850,000 USD 460 sq. m. Single Story Residential
Commercial Real Estate for Sale in Batey Sosua, Sosua, Puerto Plata $585,000
31 photos
Investment Property - 4 Condos plus Owner's Suite - Financing! VIDEO Short Walk to Beach and Town Batey Sosua $585,000 USD Commercial Commercial
Homes for Sale in Sosua, Puerto Plata $492,500
12 photos
Dream Villa with Financing, Ocean View & On-site Amenities DRL#4677 Sosua $492,500 USD 150 sq. m. Single Story Residential
Homes for Sale in Cabarete, Puerto Plata $485,000
24 photos
Great Villa or B&B, Only 5 Minutes From The Beach Cabarete $485,000 USD 385 sq. m. 3 Story Residential
Homes for Sale in Cabarete, Puerto Plata $469,999
20 photos
Great Opportunity for a Multifamily Unit Close to Beach & Financing Available Cabarete $469,999 USD 350 sq. m. 3 Story Residential
Commercial Real Estate for Sale in Sosua, Puerto Plata $420,000
18 photos
Great Business opportunity with INCOME , Suite 5min walk to beaches, FINANCING Sosua $420,000 USD Commercial Commercial
Condos for Sale in Cabarete, Puerto Plata $399,000
49 photos
Cabarete Beachfront Penthouse For Sale - FINANCING Highest End Condominiums Directly Beachfront Cabarete $399,000 USD 160 sq. m."1,722 sq.ft." Apartment Condominium
Lots and Land for Sale in Las Canas, Puerto Plata $390,000
19 photos
Las Canas Beach Lot Ocean front lot Las Canas $390,000 USD 5,812 sq. m. Lot / Land Lots and Land
Homes for Sale in Casa Linda, Sosua, Puerto Plata $375,000
40 photos
Open Concept Modern Villa on Stunning Ravine Lot Casa Linda Custom Villa - With Guest Apartment Casa Linda $375,000 USD 180 sq. m. 2 Storey Residential
Homes for Sale in Casa Linda, Sosua, Puerto Plata $375,000
26 photos
4 Bedroom House on Private Ravine Lot - FINANCING with $80k Down Beautiful Outdoor Living Area Casa Linda $375,000 USD 2,750 sq. ft. 2 Storey Residential
Homes for Sale in Hispaniola Residencial , Sosua, Puerto Plata $369,000
30 photos
4 Bedroom Villa with Separate 1 Bedroom Apartment - Financing only 30% Down Live in Villa and Rent Apartment to Cover Expenses Hispaniola Residencial $369,000 USD 2 Storey Residential
Homes for Sale in Terramar, Sosua, Puerto Plata $365,000
16 photos
Reduced with Financing! Custom Built, Private Villa with Waterfall and space to build Terramar $365,000 USD 2,500 sq. ft. Single Story Residential
Homes for Sale in Carretera Sosua - Cabarete , Cabarete, Puerto Plata $360,000
15 photos
House in Perla Marina Steps to Beach - UNDERVALUED - VIDEO Home with beautiful outdoor living areas Carretera Sosua - Cabarete $360,000 USD 314 sq. m."3380 square feet" Single Story Residential
Homes for Sale in Sosua, Puerto Plata $359,800
17 photos
Beautiful Mediterranean Style Villa in Gated Community(New Construction) Sosua $359,800 USD 275 sq. m. Single Story Residential
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