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:

Loan 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

 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!