Financing Options for Properties in the DR

You want to buy and need help with financing? These are your options.

1. Financing through Dominican Banks

Dominican Banks are financing a maximum of 70% ( Dominicans can get up to 80%) of the appraised value of a fully constructed property to foreigners. The application process is similar to that in the US or Canada or Europe.

Besides your Passport you need Tax returns and other income verification and a lot of patience.

If financing is required, we always advise our clients to talk to a banker prior to making any financial commitments or prior to sending reservation fees for any properties.
 
Please keep in mind that banks do not finance properties that are under construction and not finished. This is not the case for resale properties.
 
We can offer you to negotiate payment plans with developers for new construction properties.
 
 
2. Financing through your home bank
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. Or you refinance an existing property with cash-out.
 
3. Owner Financing
 
Only a few of our sellers are willing to offer owner financing to buyers. Usually they require at least a 40%-50% down payment and require repayment within 2-6 years. Always consult with a knowledgeable lawyer prior to signing any owner financing documents. 
 
 
Contact us for all the questions you have and to get you in touch with one of our trusted mortgage bankers here in the Dominican Republic.

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