How do mortgage property in DR

sunshine73

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Apr 5, 2006
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I was curious as to the best banks or "financiera" to use to take out a mortgage on a apt in the Santo Domingo. I know that there are many knowledgeable and experienced people on the forum. Please advise I'm looking to buy very soon.......I am open to all opinions good and bad, don't want to make a rash choice.

Thanx in advance

sunshine
 

Gringo

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Jan 1, 2002
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Remember your not in Kansas anymore!

I was curious as to the best banks or "financiera" to use to take out a mortgage on a apt in the Santo Domingo. I know that there are many knowledgeable and experienced people on the forum. Please advise I'm looking to buy very soon.......I am open to all opinions good and bad, don't want to make a rash choice.

Thanx in advance

sunshine

When I built my new house I needed some bridge financing, I got quotes as high as 48% a year and everything in between.

I cut a deal with Scotia Bank here @ 17% a year and paid them off within 6 months. Scotia offered to drop 2 more points if I kept the loan in tact and I refused. So the moral of the story is to shop around and negotiate.

Larry (A.K.A. Gringo)
 

JRR

New member
Dec 9, 2004
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Financing in the DR

Contact Suncoast Marketing & Consulting Group in the Capital.

7.99-8.25%
US Dollars mortgages
75% ltv
up to 30 year amortization
US, Canadians, Europeans, Dominicans all are welcome
40% dti
All loans are full documentation
Peso loans also available

http://www.dr1.com/realestate/info/finance.html

JRR
 
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Gringo

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Jan 1, 2002
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Scotia Bank

Stopped by Scotia Bank today In Puerto Plata and I was told they are now offering mortgages @ 14% per year. this is good news for people looking for short term financing.

Larry (A.K.A.Gringo)