Caribbean Realty Investment Group has teamed up with the Aceltis Financial Group, located in USA, to offer residential mortgage loans at US rates for American Borrowers. The loans can be used to finance the purchase of your house, apartment and/or vacation or retirement home in the Dominican Republic. The loan is offered up to 70% of the appraisal value or purchase price, whichever is lower, up to $1,250,000 USD. The financing is offered in two variations. The first product comes with a 5 year fixed period and a 15 year amortization. The second product has a 10 fixed period with a 20 year amortization. Typically, rates on these products run from 8.5% to 9.5%, depending on many factors in each specific deal.
To give an example, take the following hypothetical case - a condominium with a purchase price of $250,000. Depending of the financial strength and credit profile of the borrower we could arrange financing for up to $175,000, with the borrower putting $75,000 down. The monthly carrying costs using the 10 year fixed / 20 year amortization schedule would be $1,616, calculated at an interest rate of 9.37%. This hypothetical case illustrates an actual deal and can be used as a guide to show you how to accomplish your goal and live your dream.
To learn more contact an Caribbean Real Estate Loan Specialist to discuss all your options and start living the life you've imagined. |
