Mortgage Processing time

Paradise, any issues getting the loan? I know lot of banks are simply not lending these days or charging so much in interest that they effectively take themselves out of the lending business.

I took a loan from Banca Reserva so we can build local credit. It wasn't that large of a loan. It took about 6 months after the paperwork was in to get the final "okay". Then they have to put the funds in the account...another week...for 50% of it....then another month...for the other 50% of it. All the time they are charging interest after the "okay".

Sheesh. If I didn't want to live here for ever I would be very annoyed!

Ok here i go....I have my mortgage with BHD and they took one month to deny my loan in dollars and then another month to approve my loan in pesos and finally 2 weeks to pay out. Like the OP stated all the time charging you interest. The builders will understand because they are use to dealing with the local banks.

Try not to freak out I did, I figure they had all the documents required and I was pre approved prior to processing, so it shouldn't take that long WRONG WRONG WRONG!!!!! They are slow and everything has to be looked over by a commitee and then signed by the 2 to 3 bank executives who are never there.

In the end it all works out....When in Rome... well you know.

sunshine73