Banreservas offers Dominicans in NY much better finance terms than to Dominicans in the DR

[Dolores]

Samuel Pereyra / Diario Libre

The government bank, Banreservas has organized a second Real Estate Fair to back projects in the Dominican Republic and promote their sale to Dominicans who reside in the United States. The real estate promotional event is taking place in New York City and Lawrence, Massachusetts.

The Banreservas is lending to buyers at 10% fixed rate for seven years. This compares to the best rate for mortgages offered by Banreservas in the DR that is at 14% and 15 years. Samuel Pereyra, executive president of the government bank, says the financing is up to 90% of the value of the property and for up to 20 years.

In a press release, the government bank says that the loans are available for a wide portfolio of pre-selected projects. As reported in the press release, more than 80% of the properties covered by the Banreservas loans have trusts ensuring the...

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[CristoRey]

They are assuming the Dom Yorkers are more responsible when it comes to managing their debts/ financial commitments.

 

[keepcoming]

Didn't they (Banreservas) just have some big publicity gathering in NYC with Juan Soto?

 

[Manuel01]

Of course they do. Here they charge interests, the mob in Chicago didn't dare to take during the times of Capone.
Let them ask for 28% for a regular Credit in the US and all of their branches will go up in flames within 24 hours.

 

[windeguy]

Comparing apples and oranges just to get a story published about two vastly different environments.