Mortgage loan in the Dominican Republic
Perez Real Estate assists its clients free of charge in the process of acquiring a mortgage loan in the Dominican Republic, as each case is particular, we advise you to contact us and we will gladly assist you in a personalized way.
Who can acquire a mortgage loan?
- Dominicans residing in the Dominican Republic
- Dominicans residing abroad
Dominicans can acquire a loan of normally 80% of the sale price. Some banks under certain conditions offer 90%.
Foreigners can acquire a loan of 50 to 60% of the sale price of the property.
Budget and ability to pay
Budget and ability to pay Before making a property reservation, we have to see with the client what their budget is and their ability to pay to ensure they have their home loan. We proceed as follows:
- The client chooses the property
- We precede a bank pre-evaluation
- The client can proceed to the payment of his reservation if he has the pre-approval of the bank.
To proceed with the bank pre-evaluation, we need some requirements from the client.
Foreigners and Dominicans living abroad
- 2 last taxes paid
- Last 3 account statements
- Certification of income (as a work letter)
- Identity documents (ID or Passport)
Domincanos y residentes en República Dominicana
- 3 últimos estados de cuenta
- Certificación de ingreso (como carta de trabajo)
- Documentos de identidad (Cédula o Pasaporte)
Once the client has the approval of the bank, he can proceed to the reservation of the property he wants to buy.
Bank preapproval does NOT mean a mortgage credit approval. It only means that the client has the ability to have his mortgage loan for the purchase of the property.
That is why it is very important to keep your credit correct until you request the final loan.
Do not hesitate to contact us and Pérez Real Estate will gladly assist you, always free of charge, throughout the financing process.