Financing Options

NON-RESIDENT VACATION HOME PROGRAM

• Financing up to 70% of the lower value between appraisal and purchase price.
• Up to 25 years amortization.
• Excellent Interest Rates 6.95% Fixed for 1 year, 7.95%, Fixed for 3 years and 8.50%. Fixed for 5 years. After the fixed period, rates are variable.
• The loan amount must be in USD currency only.
• Only the acquisition of finished homes is to be transferred to the personal name of the customer.

Process:

Step 1: Get Pre-Qualified. Determines if the bank will lend based on a person’s debt load, credit score, and positive net worth.

Step 2: Final Approval: You should have already selected the property and provided an appraisal and promise or contract of sale.

Important:

• The cost of the appraisal will be assumed by the buyer, regardless of whether the case is approved or not.
• Closing costs are approximately 5% of the sale price, including 3% tax for transferring the property to the name of the buyer, 0.15% Tax by check issuance, legal and administrative expenses, and property insurance for 1 year. This amount must be available before signing.

Documents Requirement:

List of pre-qualification requirements