Finance help

[eralc777]

So, i live here in Sosua and have seen a gorgeous apartment i want to buy. All that is stopping me, of course, is the money. I would like to know how easy it is to get a loan or mortgage here to finance it and what the average repayments would be for approximately 70,000 US. Also, where would i go to ask about getting financial help? I have a good job with a decent wage each month.

Thanks for the help.

[Lambada]

Most of the bank websites have calculadoras where you can punch in the numbers: for example Banco Popular assuming mortgage is for 2 million pesos & value of property is 3 million
Popularenlinea.com, Calculadora de Financiamiento

annual interest is 13.95% and you borrow for 180 months (15 years) you would be paying monthly: Cuota (interés + capital): RD$ 26,567.68 + Seguro de vida deudor: RD$ 560.00 +
Seguro de vida co-deudor: RD$ 448.00 + Seguro de propiedad: RD$ 2,217.60 for a total of RD$ 29,793.28 each month.

Here's the link, you can type in your own figures, click on Calc Prestamos:
Popularenlinea.com, Venta de Inmuebles

[ace]

There is a fairly new mortgage company in Sosua. 20 years fix 8.5 % with 20% down . The company's name is
Dominican Mortgage Broker, C por A.
Oficina #203,Calle Alejo Martinez
Sosua , Puerto Plata
809-571-4806, cell 809-714-4580

Mortgage Dominican Republic / Home Loans in the Dominican Republic by Dominican Mortgage Broker

Your realtor should do this work for you if he wants the sale.

Good luck,

Ace