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How to Get a Panama Mortgage

How to get a Panama mortgage? A mortgage in Panama is straightforward if you know how to do it. The preparation before signing the buy-sell contract is vital.

Also, if you handle the appropriate information, it is very likely that you will succeed.

Banks around the world operate under very similar parameters. The first thing they want to know who and who will be his client. Also, how is going to be him, after receiving the loan? Hence the importance of providing sufficient financial and personal information to facilitate decision-making.

In general, terms, if you can 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 provide.

How to get a Panama Mortgage (II)

Bank’s official questions during the interview. You need to be ready to answer

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.

Moreover, a property appraised

Who is the appraiser company?

Are you insurable?

It is your insurable property

Indebtedness capacity

Education and profession

Moral hazard

In conclusion, 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 or the real estate agent.  He should be able to help you answer these questions and recommend you. After all, possible he knows which is the most suitable bank to make the application for mortgage credit.

If you wish, we can advise you without any 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.