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Mortgage Requirements

✅ General Requirements for Mortgage Financing

Personal Documentation

  • Identity card (for Dominicans) or passport (for foreigners).

  • Current legal residence (for foreign residents).

  • Certificate of civil status (if applicable: marriage certificate, divorce, etc.).

Income and Payment Capacity

  • Proof of income:

    • Employees: employment letters, last 3–6 bank statements, last 2–3 pay stubs.

    • Independent: financial statements, tax returns, personal and business statements.

  • Good credit history (local or international, depending on the bank).

  • Debt-to-income ratio not exceeding 40–45%.

Property to Finance

  • Copy of the property title.

  • Certification of the legal status of the property (issued by the Real Estate Jurisdiction).

  • Cadastral map.

  • Property appraisal (can be performed by a bank appraiser or an approved external appraiser).

  • Promise to purchase and sale contract or sales contract.

Other Financial Requirements

  • Initial payment or "down payment":

    • Generally 20% to 30% of the property value.

  • Life and fire insurance (required by most banks).

  • Commissions and legal fees (approximately 2–4% of the loan or property value).

  • Dominican Popular Bank

  • BHD León Bank

  • Banreservas

  • Scotiabank RD

  • APAP (Popular Savings and Loan Association)

Foreigners can obtain financing to purchase property in the Dominican Republic, although the requirements are generally stricter than those for citizens or local residents. Below are the main requirements and conditions for foreigners:

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