Obtaining a Mortgage as a Nonresident DR Citizen

william webster

Platinum
Jan 16, 2009
25,887
1,800
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In a deeeeeeelux apartment in the sky?

Too bad you missed the Aerie..... former perch of Big Bird...
Penthouse Apartment, Weber on the balcony.... bird's eye view of the city.....

Once, he tried to 'head for the hills'.... USA hills
We talked him out of it..... and he was happy here until he died...
Just took more forays home to NJ

The Bird - we miss him..........
 

AlterEgo

Administrator
Staff member
Jan 9, 2009
20,344
1,732
113
South Coast
V
Too bad you missed the Aerie..... former perch of Big Bird...
Penthouse Apartment, Weber on the balcony.... bird's eye view of the city.....

Once, he tried to 'head for the hills'.... USA hills
We talked him out of it..... and he was happy here until he died...
Just took more forays home to NJ

The Bird - we miss him..........
Herb was definitely one of the good ones. RIP. 🪦
 

malko

Campesino !! :)
Jan 12, 2013
4,715
334
83
V

Herb was definitely one of the good ones. RIP. 🪦

Story from back in the days :

I combined a trip to DGM and a trip to BigBird's.
Quite close to each other.

Remember he was leaving the DR, and was emptying his place and selling lots of stuff, at a bargain.
Anyhow when we went to pick up some TV's, he he was "observing " us.

After a fashion I was like, " what's the deal ? Lol ".
He answered that we were the first " normal looking couple " that turned up to his place after he had placed his ad on dr1...... Hahahaha.
 

Radical

Active member
Jan 5, 2021
275
201
43
SOMEWHERE
What you ask here, you need to sit at each bank you may want to do biz with in the DR. Always best starting with banks you already do biz with.

Been there, done it, next?

This ain’t Kansas...

Loans with strong collaterals can be had with fixed and low rates. Fixed rates over 6 years are very scarce but available to you, again based on financials.

Collaterals of 60/40 are preferred but they do work with 50/50 as well.

This is you
The rates by banks are always variable after the first 3 to six years. The interest is high and not worth to pay if you can afford your own way.

Then this is you again 👆
Dominicans for the most part don’t use mortgages to buy property.

And this is you one more time.

The reason why Dominicans do not use mortgages (as you've stated yourself) is simple; mortgages are hard to get, process is cumbersome, the terms and interest are unbearable, and too costly.

Make up your mind!

ps: You too are challenged to provide a verifiable source (any) offering a loan under 7% with fixed terms longer than 3 years?

Don't tell me stories, don't tell me it can be had, post a flyer, a link with this information on it, copy and paste, upload a pdf, anything, but do post verifiable proof and not just hear say. Do it!
 

PICHARDO

One Dominican at a time, please!
May 15, 2003
12,908
620
113
Santiago de Los 30 Caballeros
Been there, done it, next?



This is you


Then this is you again 👆


And this is you one more time.

The reason why Dominicans do not use mortgages (as you've stated yourself) is simple; mortgages are hard to get, process is cumbersome, the terms and interest are unbearable, and too costly.

Make up your mind!

ps: You too are challenged to provide a verifiable source (any) offering a loan under 7% with fixed terms longer than 3 years?

Don't tell me stories, don't tell me it can be had, post a flyer, a link with this information on it, copy and paste, upload a pdf, anything, but do post verifiable proof and not just hear say. Do it!


Maybe if you read all of them?
 

Radical

Active member
Jan 5, 2021
275
201
43
SOMEWHERE
Maybe his attitude is shinning through and they don't want to deal with him.

What really has bothered you badly is the fact that you have yet to post anything credible, other than your wife is Dominican (and with all due respect, I mentioned it because you've used this as a fulcrum to catapult your self appointed knowledge) and therefore you believe that this alone would give you "superpowers" in all Dominican subjects.

Post the mortgages rates you proclaim are available at any Dominican bank with interest between 5% and 7% and fixed terms longer than 3 years?

Those were your numbers Bob.
 

william webster

Platinum
Jan 16, 2009
25,887
1,800
113
Story from back in the days :

I combined a trip to DGM and a trip to BigBird's.
Quite close to each other.

Remember he was leaving the DR, and was emptying his place and selling lots of stuff, at a bargain.
Anyhow when we went to pick up some TV's, he he was "observing " us.

After a fashion I was like, " what's the deal ? Lol ".
He answered that we were the first " normal looking couple " that turned up to his place after he had placed his ad on dr1...... Hahahaha.
I met him by accident - at the dentist.... he heard them say my name.
Greeted me like an old friend.... and we started communicating more frequently

Didn't he have some of those chairs - 'Frica teased him about them - Ugly !
 
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bob saunders

Platinum
Jan 1, 2002
28,731
2,266
113
dr1.com
What really has bothered you badly is the fact that you have yet to post anything credible, other than your wife is Dominican (and with all due respect, I mentioned it because you've used this as a fulcrum to catapult your self appointed knowledge) and therefore you believe that this alone would give you "superpowers" in all Dominican subjects.

Post the mortgages rates you proclaim are available at any Dominican bank with interest between 5% and 7% and fixed terms longer than 3 years?

Those were your numbers Bob.
The numbers Tee posted from Scotia Bank are in line with between 5-7 percent. Both Pichardo and Nals have told you that banks take each situation separate and those rates may be available based on your individual situation but for some reason you prefer to argue. I told you I have a personal loan with a fixed interest rate for 3 years but you called me a liar. What are lenders telling you? Perhaps you don't have enough money or other collateral to get preferred rates, Only you know why you cant get what you are looking for. Enlighten us.
 

Radical

Active member
Jan 5, 2021
275
201
43
SOMEWHERE
The numbers Tee posted from Scotia Bank are in line with between 5-7 percent.

But only fixed for 2 to 3 years, why do you want to keep omitting that portion?
Both Pichardo and Nals have told you that banks take each situation separate and those rates may be available based on your individual situation but for some reason you prefer to argue.

I've no "situation," in fact I've excellent scores here and in the USA, make enough to easily qualify for $500,000,000 home loan in the USA, and live a very free economic life here in the DR. Still waiting for you or anyone to direct me to the bank that would offer anything between 5%-7% with fixed rates longer than 2 to 3 years?
Perhaps you don't have enough money or other collateral to get preferred rates,

LOL......if you only knew :ROFLMAO:
 

Radical

Active member
Jan 5, 2021
275
201
43
SOMEWHERE
You ASSume I haven't. Do you always fart when you enter a stranger's room?

More profanity that stays intact?

Am sure at the minute I dare to reply as such, I'd get banned?

Bias around here, or just "preferred" customers?

The proof is right on the pudding.

BTW Johne, your reply isn't worthy of my time - what you wrote says it all about you.

The poster AlterEgo, the same that banned me I take, wrote the following directed at me:

"We are done here, some people just can’t learn the basics of polite conversation."

Wondering how well balance the management is in this forum, and see what will happen to the reply from the poster Johne?
 

Yourmaninvegas

I am here to protect and serve
Feb 16, 2016
1,148
430
83
-
johne,
I hear worse on the radio everyday here in 🇩🇴 .
Some have sensitive eyeholes.
If they do they should use the ignore function.
That way they can quit complaining.
And man up!!

I have nothing to add when it comes to subject matter.
Only to say that I do not understand given the very reasonable prices of homes in 🇩🇴.
Why someone would not simply pay cash if you cannot find a loan deal that you like?
Especially when they are claiming that they are rich beyond belief.
Unless they are not very liquid.
Then they should not be taking their frustrations out on the DR1 posters.
They should be re-examining their financial situation.
Just saying...
 

johne

Silver
Jun 28, 2003
4,559
1,149
113
More profanity that stays intact?

Am sure at the minute I dare to reply as such, I'd get banned?

Bias around here, or just "preferred" customers?

The proof is right on the pudding.

BTW Johne, your reply isn't worthy of my time - what you wrote says it all about you.

The poster AlterEgo, the same that banned me I take, wrote the following directed at me:

"We are done here, some people just can’t learn the basics of polite conversation."

Wondering how well balance the management is in this forum, and see what will happen to the reply from the poster Johne?
Troll.