Dominican Republic Property Mortgages ScotiaBank

We recommend Scotiabank for their great value and quick service!

Scotiabank has various offices all over the country that offer clients from Canada and the USA mortgage loans to purchase property.

They first established branches in the Dominican Republic in the 1920’s and have over 54 branches nationwide.

We have a branch right here in the centre of Las Terrenas on the Samana Peninsula on the North Coast that will look after your property mortgage needs in Las Terrenas.

Dominican Republic Property Mortgages ScotiaBank

Scotiabank

KEY CHARACTERISTICS FOR RESIDENTIAL MORTGAGES (FINISHED PROPERTIES) AND CONSTRUCTION FINANCING

Interest rates in US$ from 8.25%

Preferential, stable and fixed rates for the longest term on the market that adapt to your budget.
Up to 90% financing of the value of the home (Purchase price or appraisal, whichever is lower).
Up to 30 years of housing financing term.

Dominican Republic Property Mortgages ScotiaBank If you dream on your vacation of waking up to the sound of the waves and the tropical breeze.

This is the best opportunity to be the owner of a very special place for your vacation by the sea. Scotiabank offers you installment loans in US dollars with the best market conditions.

Complete loan application form (PDF)
Present Two (2) identity documents of the buyer client and the seller.
Applicants must demonstrate stable income in US dollars (received domestically and/or abroad) for at least the last twelve (12) months.
For applicants who are self-employed, only income in US dollars or income generated in the Dominican Republic is considered.
Proof of income:
– If you are an employee: Employment letter addressed to Scotiabank or Three (3) latest statements of your checking account and personal credit card, if you are an employee.
– If independent , last six (6) personal checking or savings account statements or last audited financial statement of the company. If the company is incorporated, a copy of the bylaws and the last meeting
Authorization to access your credit history.
Detail of the debts to be consolidated.
Photocopy of the warranty title.
Copy of the sales contract.
Initial receipt.
Luxury Housing Tax (IVSS) for this year.
Appraisal of the property carried out by an authorized appraiser of the bank.

Dominican Republic Property Mortgages ScotiaBank

Early Cancellation Penalty 2.5% of the balance due at the time of cancellation during the first 3 years of the loan.

Penalty for Extraordinary Payments If the extraordinary payment exceeds 10% of the original loan amount, during the first 3 years of the loan, you must pay a penalty of 2.5% of the amount of the extraordinary payment.

There are branches in all the major towns and cities including a branch in Las Terrenas you can get all contact details from the links to the banks website

The bank offers a whole host of services for both personal and business accounts these can be in both Dominican Peso United States of America Dollars and in the European Union Euro.

They offer an array of savings accounts Credit and Debit cards and online banking systems along with loans of all types.

The Scotiabank Las Terrenas C/ Duarte No. 9, Plaza Rosada 809-240-6125

Dominican Republic Property Mortgages ScotiaBank