Obtaining a Mortgage as a Nonresident DR Citizen

Radical

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You like arguing.

Do your own research.
Make your own decisions.

A non-resident with any financial sense would not get a mortgage in the DR.
Buy with cash, or rent.
If you can't accumulate enough funds in your home country outside of the DR to buy here, you're doing something wrong.
Getting a mortgage here under those circumstances would just exacerbate your financial incompetence.

What makes you think I'm not a resident?

How many houses do you own in the DR?

I own two free and clear.
 
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Yourmaninvegas

I am here to protect and serve
Feb 16, 2016
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It does not make any sense to me why you are looking for a mortgage in the 🇩🇴
If you already own two homes free and clear...
If you are a resident...
With that under you belt it would seem like you have plenty of experience to navigate the mortgage market on you own if you are not happy with the information you have received from those who have posted here.
Am I the only one who does not understand your motivation or objectives behind the posts in this thread❓
 

JD Jones

Moderator - Covid 19 in DR & North Coast
Jan 7, 2016
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It does not make any sense to me why you are looking for a mortgage in the 🇩🇴
If you already own two homes free and clear...
If you are a resident...
With that under you belt it would seem like you have plenty of experience to navigate the mortgage market on you own if you are not happy with the information you have received from those who have posted here.
Am I the only one who does not understand your motivation or objectives behind the posts in this thread❓


It's quite the enigma.
 
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Radical

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It's quite the enigma.

Enigma?

Enigma for those lacking investment backgrounds; I didn't end up with two houses here and a three more in the USA (two of them owned free and clear) by mistakes, certainly it wasn't by paying cash either.

Do you know of any people who has done well financially investing its own money?

Does any bank lend or use its own monies?

Of course the answer is none. Its all about leverage and using "other people's money."
 

Yourmaninvegas

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Feb 16, 2016
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The use of "leverage" has risk.
Just ask the people on the wrong end of a "Gamestop" trade.
Or the people facing foreclosure during the COVID-19 income crisis.

I've done just fine in the financial markets over the years.
With my own money.
No leverage.
Have I held a mortgage before ❓
Yes‼️
Do I now❓
No‼️
Am I rich ❓
No‼️
Do I own what I use personally❓
Yes‼️
There are as many ways to get rich as there are to skin a cat.

If a individual feels like the posters on DR1 lack investment background...
Why would they seek financial information here❓
Then castigate the individuals providing it.
 
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JD Jones

Moderator - Covid 19 in DR & North Coast
Jan 7, 2016
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The use of "leverage" has risk.
Just ask the people on the wrong end of a "Gamestop" trade.
Or the people facing foreclosure during the COVID-19 income crisis.

I've done just fine in the financial markets over the years.
With my own money.
No leverage.
Have I held a mortgage before ❓
Yes‼️
Do I now❓
No‼️
Am I rich ❓
No‼️
Do I own what I use personally❓
Yes‼️
There are as many ways to get rich as there are to skin a cat.

If a individual feels like the posters on DR1 lack investment background...
Why would they seek financial information here❓
Then castigate the individuals providing it.

Like I said, quite the enigma.
 
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Radical

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Nah, just thinking out loud.

I get the portion of not liking my "style" as poster, I get not to be in agreement with me if my position can't be supported with what's evident but looking the other way to avoid facts just because I maybe the one presenting them is ludicrous.

You run a business as you've stated; if you do, you know well the impact tha of using other peoples money has financially speaking. I don't doubt you as businessman, and you might as well probably are even more successful/blessed that I've been, and if you are; using leverage must have been one the corer stone of it; denying it this just because I am the one posting it, then will define a trait.

Good day, am too just thinking out load and brain storming!
 

johne

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Jun 28, 2003
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"Obtaining a mortage for a non-resident citizen" in true fashion of sooooo many treads here on DR 1 turned into a platform for one or two blowhards,that probably don't have a potty to piss in. It's really sad to see a work in progress that is nothing more than a "theft of time" by trolling. There is nothing accomplished in search for true information regarding the country we live in. Knowledge is power and I use the term "theft of time" because that is an accurate phrase. Stealing time from those that are mislead thinking they are going to learn something.

Opinions si. BS no. IMHO one who brags about what they own, what their assets are, (and there have been many here over the years)
 
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bob saunders

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Jan 1, 2002
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Enigma?

Enigma for those lacking investment backgrounds; I didn't end up with two houses here and a three more in the USA (two of them owned free and clear) by mistakes, certainly it wasn't by paying cash either.

Do you know of any people who has done well financially investing its own money?

Does any bank lend or use its own monies?

Of course the answer is none. Its all about leverage and using "other people's money."
Yes, Trump got rich using leverage, but he was also forced to declare bankruptcy because of leverage.
 

junglemonkey

Member
Jun 24, 2006
67
15
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Could anyone tell me whether a tax-nonresident Dominican citizen (living primarily outside of the DR) would be eligible to obtain a mortgage for a house or condo in the DR?

Thanks in advance for the insight!
You have to go to each bank and check their requirements.. People here are talking 7% or 8% fixed but you really have to check it out... the best I have seen was banreservas 8% fixed for 3 years athen skyrocket interest after that..and that 8% was during a "feria". Some banks have 7.5% but thats only 6 months!. So be careful of the comments here thinking you can get 8% fixed for 10years on a mortgage loan. Not happening. Popular has 10.95% base and Banreservas has 11% for 10 years fixed. Personal loans may have better rates and fixed for longer times but i havent seen anything similar for mortgage loans.
 

JD Jones

Moderator - Covid 19 in DR & North Coast
Jan 7, 2016
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And my replies keep on vanishing?

If someone doesn't want me here, and I know exactly who you are, just get rid of me and be done with it.

Looking at your posts the last time you had a post deleted was Feb. 7. If you don't believe that check for yourself.
 

Radical

Active member
Jan 5, 2021
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Looking at your posts the last time you had a post deleted was Feb. 7. If you don't believe that check for yourself.

JD,

Thanks.

I've learned to respect you, both; as poster and Moderator. I'll not expand on the deletions (more than just one) to avoid confrontations (not with you) and non-sense, but rest assured that last night a reply of mine was deleted.

Back to the subject:

the best I have seen was banreservas 8% fixed for 3 years athen skyrocket interest after that

So be careful of the comments here thinking you can get 8% fixed for 10years on a mortgage loan.

Popular has 10.95% base and Banreservas has 11% for 10 years fixed.

Same exact things I've been saying all along but I'm the one who likes to argue?

I rest my case!
 

Yourmaninvegas

I am here to protect and serve
Feb 16, 2016
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Same exact things I've been saying all along but I'm the one who likes to argue?

I rest my case!
If you have found something that works for you report it and take the loan.
If you have not, pay cash.
It really is not more complicated than that.
Unless you are willing to take the time to educate me on exactly what I am missing at this point.