To get a mortgage in Panama is very easy if you know how to do it. The preparation prior to signing the contract of sale of a property is very important and if you handle the appropriate information it is very likely that you will succeed.
Banks around the world operate under very similar parameters, and the first thing they want to know who and who will be his client and how is going to be him, after receiving the loan. Hence the importance of providing sufficient financial and personal information to facilitate the decision-making.
In general, terms, if you are able to supply the necessary information to answer this questions, you have good possibilities to get the loan because this is a large part of the documentation that must be supplied.
Experience in handling credits and obligations
Responsibility for the payment of their commitments
Source and amount of income
Years of exercising the activity or work
Work or professional continuity
Stability of income
Existing credit obligations at the time of applying for a mortgage loan.
Has property appraised
Who is the appraiser company?
Are you insurable?
It is your insurable property
Education and profession
Basically if one can answer these questions it is very likely that a local bank is willing to evaluate a mortgage loan application.
We invite you to consult with your broker of real estate, he should be able to help you answer these questions and recommend you, which is the most suitable bank to make the application for mortgage credit.
If you wish, we can advise you without any kind of commitment before any step that involves the signing of a buy-sale contract of the property and the disbursement of the down payment of the property reserve.