We can help you arrange a mortgage in Dominican Republic, but take into account the interest rate in your country and compare. Another alternative could be getting a mortgage on your existing property in your country and buy cash in Dominican Republic.
If you require mortgage finance, obtain an 'Agreement in Principle' for your mortgage before agreeing to purchase the property, or before signing any contracts and paying a deposit.
If you are arranging finance on the property, ensure that this is stated in any contract and, where possible, seek an 'opt-out clause' if the loan is not agreed (which will ensure any deposit paid is refunded).
Remember your mortgage will probably be in the local currency and you must consider the impact of fluctuations in exchange rates. However, if the intention is to receive rental income from the property, this may be in the local currency.
GENERAL MORTGAGE REQUIREMENT
Financing capabilities are limited not only by what the buyer personally thinks they can afford, but also by policies and guidelines that lenders apply to safeguard themselves.
The property must have a clear title.
Most recent four (4) pay statements. If self employer a CPA statement.
Tax returns for the two (2) most recent years.
Most recent assets statements.
P.S LTV (Loan Total Value) is 70% of appraised value.US and Canadian citizens can write off loan interest on their tax returs