Banks in the Dominican Republic will request 3 years of your financial statements when you apply for a mortgage. They will also request a list of your assets. They will finance up to 70% of the purchase price of the property if your financial position is excellent.
Mortgages in the D.R. are a 5 year time frame. They are 25 or 30 years in North America. Every 5 years you must once again provide a list of assets and 3 years of financials before they will renew your mortgage. Their interest rates are higher than they are in Europe and North America.
Taking a line of credit from your Canadian / American bank is an option that will carry a lower interest rate without any surprises. Also talk to your bank about financing foreign property purchases. They may be willing to consider it.
