Belize real estate financing

Belize Real Estate Financing

PROPERTY FINANCING IN BELIZE Looey Tremblay info@BelizePropertyCenter.com

Getting financing to buy property is Belize can be difficult and expensive and you are strongly advised to borrow money in your home country, if possible.

The high street banks in Belize may lend to non-residents but their interest rates can be as high as 10 or 11%.

Some property Sellers do offer self-financing but these are few and far between and it should not be taken for granted that this option is available.

The following is the requirements for getting a loan with one bank.

ATLANTIC INTERNATIONAL BANK LIMITED Requirements To Apply For Financing The maximum time period for a loan is 7 years with an amortization of 20 years Refinancing at the end of the 7th year for an additional 3 years may be an option for larger loans The Interest Rate is 9.75% The Bank’s commission and the Attorney’s legal fee can be added to the loan if you wish.

Identification – Both the applicant and the Co-Applicant need to submit a COLOR notarized copy of their passport (pages showing signature and photograph) References – We require two bank references from banks that you have been dealing with for at least 18 months.

References must mention: Date that the account(s) was opened Type of account Average balance kept in the account(s) Any other information that shows that the account has been handled to the bank’s satisfaction.

If the Applicant/Co-Applicant only banks with one bank, the second reference can come from a Business Professional in the form of a Character Reference.

Copy of Utility Bill We ask that you provide us with a recent copy of a Utility Bill to evident your Home Address Pictures of Property We ask that you provide us with pictures of the subject property if possible.

A date will also need to be scheduled for an on-site inspection by bank officials.

Structure under which Property will be Owned

Let us know if the property will be in your personal name(s) or if it will be in the name of a company.

LEARN MORE ABOUT FINANCING BELIZE PROPERTY AND OPENING AN OFFSHORE ACCOUNT.

BELIZE CONTACT INFO: 30 Burns Ave, San Ignacio District of Cayo Belize, Central America Office Land Line : (From North America: dial 011-501-824-0550) Fax : (501) 824-0447 (From North America, dial 011-501-824-0447) Email : info@BelizePropertyCenter.com Web Site http://www.belizepropertycenter.com

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