Mortgages in Panama
In our country there are about 100 licensed banks in general operations, international or representation. The banks in our country is regulated by the Superintendency of Banks and the recent global economic crisis, demonstrated its strength and reliability in their operations.
General license banks give mortgages to foreign nationals under certain parameters and according to the credit policy of each.
Nationals to obtain mortgage financing can usually between 5 and 15% of their principal amount of your mortgage, if they can demonstrate stability and continuity in their employment or source of income, good credit reference and debt capacity.The terms of the mortgages can be extended to 30 or 35 years depending on factors including age.
As national banks to give mortgages to foreigners in our country. Conditions vary slightly with respect to nationals in particular the amount to finance between 60 and 70% depending on several factors. Years later, which provide general license banks in Panama, foreigners can vary between 15 and 20 years.
To grant a mortgage to borrowers Panamanian or foreign banks ask for the assignment of a life insurance policy and fire insurance in the amount of fund balance.
For more information on the requirements and conditions of the mortgage loans in our country, use our mortgages calculator and contact us by email or phone below:
E-mail: info@panamaproperty4you.com
Phones: (507) 3993259
(507) 62258986
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