Credit and Financing buying a condo & house

SDF123

New member
May 19, 2008
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Hi! I hope someone can help me. Ok so I am now offcially a resident. I landed a job at a manager (Thank you DR1.com). I have called my bank in the US and they wont help me buy a house/Condo here.
Can someone tell me how to establish my credit here in DR so I can hope to buy a house in a year or 2.

Thank you
This site is great and thank you for everyone who post! Sorry if I put this in the wrong location.
 

Lucille

Bronze
Jan 14, 2007
919
262
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To establish your credit you need either a credit card or a loan to start with.
1- guarantee credit card or loan
2-co-signer
3-Furniture stores
Banco Popular is a great source to establish credit and very good reference.
Mortgages
Asociacion Cibao de Ahorros y prestamos (pesos -only)
BHD- (US-and pesos )
Banco de Reservas has a one time "Feria" in February every year, for mortgages and refinance . The interest is 4% less than actual dominican rate and it is fixed for four years. Nobody knows the exact day you have to keep the track of it . You can save a lot ..Just go around and you will find diferent deals, also you can "BARGAIN"...PIDA REBAJA.........
 

Robert

Stay Frosty!
Jan 2, 1999
20,574
341
83
dr1.com
I landed a job at a manager (Thank you DR1.com).

Send me a PM or email, would love to know what job you got via DR1.

You need to establish credit over time with banks here or have a significant amount of collateral as security for a loan. As Lucille posted, shop around here, banks are starting to get competitive.

Robert.
 

Ringo

On Vacation!
Mar 6, 2003
2,823
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Over many years their has been many DR1 threads/posts concerning getting a loan for property in the Dominican Republic. Use the search feature to see some.

I can not remember ANYONE that has posted that they actually obtained a loan, within the D.R. or from any other country for D.R. property.

Has anyone obtained a loan for D.R. property? If so, what terms?

Regards, Ringo
 

LatinoRican

New member
Apr 11, 2004
211
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Does anyone know anything about the new BPD Bank that just opened in the Piantini area recently? I know that it is insured by the FDIC in the U.S., but besides that, do they offer loans to buy property in the Dominican Republic?