Guatemala: How to get mortgage financing for foreigners
Buying Guatemala real estate has generally always been a cash proposition, as most banks were concerned that they would have no legal recourse available should a foreigner default on their mortgage and leave the country. As more and more foreigners seek financing, brokers have managed to make arrangements with several of Guatemala’s larger banks to provide funding.
Thursday, April 17, 2008
In El Salvador, clients of the Social Home Fund (FSV) have more buying power as they become exempt from some requirements.
Although construction of residences and hotels has been the leader in real estate growth in Guanacaste, commercial buildings that spring up as a complement to the residential development are not far behind.
In Panama the scheme which provides financing with preferential interest rates is a major factor in the growth of mortgage loans.
The Legislative has ratified a Treaty for the Establishment and Implementation of Central American Mortgages signed between Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama and the Dominican Republic.
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