How to Finance your Dominican Republic Real Estate
- Finance with a Local Bank in the Dominican Republic.
In the Sosua-Cabarete area there are a few local banks that will offer mortgage financing such as the Scotiabank and the Banco Popular. Our recommendation is the Scotiabank as it has an overall better program. The Scotiabank offers interest rates at 5.95% (fixed for 5 years), amortization up to 25 years, 30% downpayment. The approval process is similar to North America with providing paperwork, however it may take longer than North America. Pre-approvals are available.
- Finance within your Home Country
You can refinance your home or take out a home-equity line of credit in your own country. The benefits are shorter approval times, lower interest rates and a wider variety of financing options.
- Developer Financing
There are a few projects in the area that offer developer financing. Terms of the financing and the down payment will vary by developer. Wildefire Properties can direct you to what developers offer financing.
- Private Lender
You can work with Wildefire Properties to find a local private lender.
For more information on buying real estate in the Dominican Republic for your vacation home, investment property or retirement please contact:
Richard Regan, President
Mobile Dominican: 849-861-0697 (Can be reached using WhatsApp)
Mobile Canada: 416-930-8925 (Can also be reached by FaceTime Audio)
Email: firstname.lastname@example.org (Can also be reached by FaceTime Audio)