Key Documents for a Home Loan in the Dominican Republic
Obtaining a mortgage for Non-Residents in the Dominican Republic involves several steps and requirements.
different style than the normal blogs here on Ushombi. depends on the bank, always triple check with the bank to make sure you have the complete list of documents and you fulfill the requirements.
Make sure to check out our blog about Property Titles in the Dominican Republic
Typically the max that is financed: 70% of the lower between sales price or appraisal up to 25 years
Min. Credit score: 660
Requirements needed to apply:
Copy of your Passport
Copy of your Drivers License
Original referance letter from your bank in your country, signed and properly stamped apostille, no less than 2 years old
2 Personal Referances
Letter from your employer indicting the following: time in the company, professional position, annual salary, address of the company, phone number and email
Bank statements of the last 12 months, business license,company registration, income tax statements of the last 2 years
Proof of Assets ( copy of property titles / vehicle titles)
Proof of down payment (Sellers Reciept) or proof that you hold funds in a savings account
Valuation of the property
Copy of Property Title
Complete authorization form to check your credit score
Before you buy you might want to read this article here. It’s important that you have the right title and the previous owner has an actual propety title. If you have any questions about purchasing real estate in the Dominican Republic feel free to reach out.