Hi, All
So, I read some of the past conversations about the difficultly in getting a mortgage in the Dominican Republic. I can only imagine since the process for me to get a bank account as a non-resident was painful at least from a state side perspective. So, Why get a mortgage since as many have already reported you need 30-40% down and they only finance for like 12 years. Well, One word, investment protection. I assume that the bank who knows all the tricks that many of the sellers play will always make sure to protect their investment. I don't mind spending some extra money to protect my investment. Any thoughts? I'd like to hear from someone that has actually gone through the mortgage process in the Dominican Republic.
Thanks
- Lion
So, I read some of the past conversations about the difficultly in getting a mortgage in the Dominican Republic. I can only imagine since the process for me to get a bank account as a non-resident was painful at least from a state side perspective. So, Why get a mortgage since as many have already reported you need 30-40% down and they only finance for like 12 years. Well, One word, investment protection. I assume that the bank who knows all the tricks that many of the sellers play will always make sure to protect their investment. I don't mind spending some extra money to protect my investment. Any thoughts? I'd like to hear from someone that has actually gone through the mortgage process in the Dominican Republic.
Thanks
- Lion