A Question for Foreigners
Can foreigners obtain financing to buy an apartment in Dominican Republic without being a permanent resident?
I do not think so....
Would you lend $100,000 to somebody with no ties to the community, no real identification? Come on!!
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In the past yes, with the new laws I doubt it
occasionally the developers will provide some limited financing. usually either on pre-construction, (wouldn't advise that direction), and sometimes on left over units in a project that they need/want to move. typically they will be short term, with large down payment, and relatively high interest percentage.
There's a couple of signs at Scotiabank catering to international buyers...
this is from their dominican website.
|If you have dreamed of:
- falling asleep to the soothing sound of ocean waves,
- waking up to the view of magnificent sunrises,
- and enjoying the pleasures of living in the Caribbean,
your dream can come sooner than you think.Scotiabank Vacation Home Buyer’s Program for residents of U.S.A, Canada and U.K., offers you the ease of acquiring a vacation home in the Dominican Republic with excellent financing terms.
|The first step to apply for a loan is to fill out the attached application form and take it to Scotiabank nearest branch
If you have any questions, please contact our Customer Service Center (TeleScotia) at 809-567-7268 or 1-809-200-7268 and 829-567-7268 toll free.
Promotion valid until August 31st, 2012.
Last edited by facelessdoll; 06-28-2012 at 10:02 AM.
Reason: add more info
Bought a place in Santiago through Scotiabank , just a few hoops to jump through.
Prey tell the hoops?? Are a DR temp/perm resident?
Originally Posted by pauleast
ScotiaBank does offer that financing.
Brochures in all branches.
I once got a loan from Scotiabank for improvement of a commercial property. But that was about 8 years ago and they knew me from a business account I had with them .
I agree, Scotia Bank will provide financing at around 9%. You will probably be required to put down 30%. I am not sure about the number of years.