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, or the UK and have assets totalling at least the value of the mortgage, 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 65% of appraised property value.
  • Maximum finance term is 25 years.
  • Interest Rate is 3.75-5% annually.
  • Loan applicant must own a first home in Canada, US or UK or have assets in at least the value of the mortgage.
  • Credit rating of at least 680 for Canadians and 640 for US applicants
  • 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) equivalent to at least the amount of the mortgage.
  • 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!!


Requirements and Forms for Scotiabank Mortgage


Below is the information and application forms required by Scotiabank in order to apply for a mortgage. Please download now and I'll send the documents to your inbox immediately. Please contact me anytime with any questions or concerns 

 

Telephone: 1-829-648-4141 - clicking the number will dial directly if you are on your cellular phone

 

Whatsapp Chat: 1-829-648-4141 - clicking the number will take you directly to a Whatsapp Chat.

 

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Properties With Owner Financing Available


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PhotoAddressLocationNeighborhoodPriceSizeStyleType
Homes for Sale in Sosua Oceanfront, Sosua, Puerto Plata $1,050,000
60 photos
Luxury Ocean Front Villa in Sosua Ocean Village FINANCING with $200k down - Video of Community!! Exclusive Gated Community Sosua Oceanfront $1,050,000 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 Playa Laguna , Sosua, Puerto Plata $850,000
11 photos
Live by the Beach and Run a Boutique Hotel!, Suite Owner FInancing offered Playa Laguna $850,000 USD Single Story Commercial
Homes for Sale in Las Canas, Puerto Plata $619,000
37 photos
Beach Front House for Sale - 6 Bedrooms Including Guest House Ocean house for sale Las Canas $619,000 USD 5,700 sq. ft. 2 Storey 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 La Mulata, Sosua, Puerto Plata $499,000
27 photos
Executive Villa with Stunning Panoramic Ocean Views FINANCING! Stunning home on large lot La Mulata $499,000 USD 520 sq. m. Bi-Level 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
Rental income property with profit, Suite 5min walk to beaches, FINANCING Sosua $420,000 USD Commercial Commercial
Homes for Sale in Casa Linda, Sosua, Puerto Plata $399,000
40 photos
Open Concept Modern Villa on Stunning Ravine Lot FINANCING Casa Linda Custom Villa - With Guest Apartment Casa Linda $399,000 USD 180 sq. m. 2 Storey Residential
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
Sold
Homes Sold 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 SOLD  $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
Condos for Sale in Cabarete Bay , Puerto Plata $355,000
52 photos
Executive Beach Front Condo Seawinds, Punta Goleta - MOST EXCLUSIVE Modern Executive Condo Beach Front Cabarete Bay $355,000 USD 126 sq. m."1485 square feet" Apartment Condominium
Condos for Sale in Cabarete, Puerto Plata $350,000
22 photos
3 Bedroom Surf Beach Condos - Financing with 50% Down Spacious Condo Steps to Famous Surf Beach Cabarete $350,000 USD 146 sq. m."1570 Square Feet" Apartment Condominium
<< Prev  1  2  3  4  Next >>