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Month: July 2013

Mortgage For Buying A House In Panama – Panama Real Estate 101:

By in Life In Panama with 0 Comments

As the majority of the investors buying real estate in Panama are not residents of the country, the Panamanian banks are easing restrictions on lending to foreigners. As of today non – residents qualify for up to 70% financing of the purchase price for up to a 25 year term. There is an age restriction for applicants at 75 years of age. This means in order to qualify for the full 25 year term, you must be 50 years of age or younger. Loans obtained from a Panamanian bank DO NOT REPORT to your credit report from your home country. Extra debt on your credit report will lower your credit score and make it more difficult to obtain other financing in your home country when calculating your monthly debts.

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