How to finance a condo in Santo Domingo

never ever heard of it

the banks hardly give financing here

only a fixed rate for the first year

and basically - in order to qualify.. you have to have enough enough money to buy it outright.. my friend who was making $3000 U S a month was told that he needed three times that income to qualify for a $100,000 mortgage.

I've seen many examples of owner financed sales. Many times it is a unit tgat has been on the market for a long time, or a unit that was inherited by the children who have no use for it. Usually you will have to put enough down to clear any existing mortgage debt, if any, then work out a personal mortgage with the owner. The income is better for the owner than sitting with a unit on the market. Many times it will be either a short-term mortgage or a baloon mortgage. Work with a real estate agent who knows the sellers. Tell the agent you want to see only units with owner financing. If you go bad on the mortgage, the seller gets the unit back and as long as the downpayment covers his legal expense, he is no worse than when he started.