Financing For a Condo

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notreallyconfused

New member
Feb 18, 2013
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Hi,

I want to buy a 1-2 bedroom condo in Santo Domingo. My question is this, being an American, can I get any financing at all? If so, what can expect as an interest rate? If not, do any of these building companies hold paper?

Thanks
 
Castellamonte

Castellamonte

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Mar 3, 2005
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www.villa-castellamonte.com
Financing is possible but the interest rate might shock you into a different mode of planning. Sometimes you can even get a good deal on private financing from the owner of the property you are buying. Don't expect a 30 year payout tho, more like 5 years.
 
M

mountainannie

Platinum
Dec 11, 2003
16,350
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Interest rates are around 22% now and are only fixed for a few years.. Nine was the maximum that I heard.. Then anything is possible. Popular en l?nea

I have only seen builders give incentives for one year.. you reserve the unit with a down payment and have to come up with the entire amount inside of a year.
 
C

CaptnGlenn

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Mar 29, 2010
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notreallyconfused said:
Hi,

I want to buy a 1-2 bedroom condo in Santo Domingo. My question is this, being an American, can I get any financing at all? If so, what can expect as an interest rate? If not, do any of these building companies hold paper?

Thanks
Click to expand...

If you're American, and own property in the U.S., AND have a significant equity, borrow from a U.S. bank against your U.S. property and use cash to pay for the Dominican condo. Depending on the bank, you'll get a rate in the range of 3 to 4%... maybe less.
 
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