the buying process
Financing your villa: what you need to know
Financing a property in another country comes with real considerations
Mortgage financing in the Dominican Republic is possible - but it isn't simple
The process involves more paperwork than you're used to, bank staff who are still learning the ropes with foreign buyers, and rules that can shift. We're not telling you this to discourage you; we're telling you because we'd rather you go in with clear eyes than be caught off guard. And because there's often a better, easier option most buyers don't think of first.
mortgage financing
Two ways to finance your villa
Most Casa Linda buyers have two routes available. One is simpler, faster, and often comes with better rates. The other is possible, but requires patience and preparation.
easiest route
Use the equity in your property in your home country.
The option most of our buyers choose — and the one we'd point you to first. If you own property in Canada, the US, or the UK, you may be able to unlock equity through a home equity line of credit or a refinance of your existing mortgage.
The rates are generally better, the process is familiar, and you're dealing with your own bank in your own language. For most buyers, this is simply the easier path.
- ✓Better interest rates than DR financing
- ✓Familiar process: your own bank, your own country
- ✓No DR-specific documentation requirements
- ✓Faster approval timelines
- ✓No bridge financing period needed
also available
DR bank mortgage financing
Mortgage financing through a Dominican Republic bank is available (and Casa Linda is an approved project), which is an important first hurdle already cleared. But we want to be honest: this route involves more paperwork, longer timelines, and a process that requires patience.
If you don't have home equity to draw on, or prefer to keep your home country financing separate, this is a viable path, with the right preparation and expectations.
- ✓Available to US, Canadian, and UK citizens
- ✓Mortgages in US dollars
- ✓Amortizations up to 25 years
- ✓Fixed rate up to 5 years
- ✓Bridge financing available during construction
Please note: This is general information, not financial advice. Speak with your lender or financial advisor
Find out if you qualify
Credit Score
660 minimum for US & UK citizens
680 minimum for Canadian citizens
$33 USD fee per applicant (can change)
Debt Service Ratio
Total debt service must be less than 35% of your monthly income
Net Worth Ratio
Your net worth (assets minus liabilities) must be higher than the loan amount, not including the down payment
Income Proof
USA & UK: Two years of tax returns
Canada: Two years of Notices of Assessment
Loan to Value
The bank will lend a maximum of 65% of the property value
Amortization
Up to 25 years — fixed rate up to 5-year term
What is not available:
Bridge financing during construction
This is an important detail to understand: the DR bank will only release your mortgage funds once your villa is completed. During construction, Casa Linda provides bridge financing.
Bridge financing payments are interest-only at 9% of the amount financed. Once construction is complete and the bank releases your mortgage funds, you begin making regular mortgage payments to the bank.
Start the application process
Once you've confirmed you meet the minimum requirements, contact us to begin. We'll tell you exactly where to send your application and walk you through the next steps toward pre-approval and eventual funding.
Email us at info@buyincasalinda.com to get started
expenses to know
Lending costs
In addition to your down payment, budget for these costs associated with DR mortgage financing.
| Cost | Amount |
|---|---|
| Legal fees to register mortgage | Varies - confirm with lawyer |
| Appraisal fee | US$175 - $500 |
| Credit report fee | Confirm with lender |
for approval
Documentation required
This is the current list of documents required after get approved for a mortgage. It's a long list, and it's good to go in prepared.
- —Mortgage application
- —Client consent to release tax data (bank)
- —US citizens: Form W-9
- —Authorization to obtain credit report (from bank)
- —Passports and driver's licenses
- —Social Security Number (US) or Social Insurance Number (Canada)
- —Letter of Employment — must be less than 30 days old (obtain pre-approval first)
- —Last six months of pay stubs (salaried applicants)
- —US applicants: W-2 for last two years
- —Canadian applicants: T-4 slips for last two years
- —UK residents: Form P60 tax summary
- —Letter of reference from your two primary banks (home country)
- —Last six months of bank statements
- —Proof of ownership of assets listed on your mortgage application (title, tax assessment, mortgage assessment, insurance, vehicle registration, investment statements)
- —Last three months of credit card statements
- —Proof of down payment source (required for anti-money laundering compliance)