Financing or cash

Financing is available in the Dominican Republic although rates and terms may not be the most attractive. Interest rates can be as high as 25% in some cases and the points charged will be high as well. Usually these loans are adjustable and the payment is constantly changing. Most people avoid this scenario whenever possible.

Many Americans will refinance their home in the U.S. at more favorable rates and use the cash to purchase their Dominican Republic home. Paying cash for a property in the Dominican Republic is a simple process that involves a wire transfer from the bank where you have money into a Dominican Republic account. When it’s time to pay for your property, a simple wire transfer will conclude the sale and the property is then recorded and paperwork is finalized.