A Question for Foreigners

B

businessdr

Member
Oct 8, 2011
431
2
18
Can foreigners obtain financing to buy an apartment in Dominican Republic without being a permanent resident?

Thanks!
 
Hillbilly

Hillbilly

Moderator
Jan 1, 2002
18,948
514
113
I do not think so....

Would you lend $100,000 to somebody with no ties to the community, no real identification? Come on!!


HB
 
C

CaptnGlenn

Silver
Mar 29, 2010
2,321
26
48
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.
 
F

facelessdoll

New member
Oct 20, 2011
129
0
0
There's a couple of signs at Scotiabank catering to international buyers...
facelessdoll


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.

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P

pauleast

*** I love DR1 ***
Jan 29, 2012
2,837
1
0
Bought a place in Santiago through Scotiabank , just a few hoops to jump through.
 
B

Barnabe

Member
Dec 20, 2002
507
0
16
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 .

Barnab?
 
L

LTSteve

Gold
Jul 9, 2010
5,449
23
38
Hi:

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.

LTS
 
O

ohmmmm

Bronze
Jun 11, 2010
619
36
48
Owner financing is often used for commercial properties as well. Maybe 50% down and the rest financed at 8% to 10% for five years with a five year balloon (must refinance or pay off loan at that time).
 
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