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Dominican Republic Finance - Mortgages - Home Loans
First and foremost an introduction as to why this web-site has been created...
The limited amount of information available online in English on how to obtain a mortgage in The Dominican Republic is either misleading or inaccurate.
Many of the so-called knowledge bases have never closed a bank loan in their lives, yet manage to live on upfront 2% origination fees.
As a registered affiliate with the Dominican Republic's largest banking institution, we are paid a commission for every loan we close by the bank, therefore we do not require any upfront fees, and as an affiliate we are up to date with rules, regulations and required documents.
For example, if you are a Dominican Republic resident (ie you have DR residency - a cedula) we can instantly pre-approve or dissaprove your loan application via our online application at no cost (if loan amount is below RD$10,000,000.00 about US$250,000.00). If you are not a DR resident then the process takes a little longer, but in no longer than 3 business days we will be able to tell you whether the bank will lend to you or not.
As of October 2010 we know the banks in the Dominican Republic are lending money, if you the applicant are qualified to obtain a loan, then you will!
It is true that the banks tend to say yes to most loan applications, yet the process becomes long and drawn out due to an excessive amount of document requirements, however as we are experienced in this process, we will tell YOU the applicant what you need to bring to the table in order to obtain your loan.
Check the above links for Mortgage Rates and Required Documents...