Can US citizens get a mortgage in Dominican Republic?

The Dominican Republic offers a unique opportunity for foreigners, whether residents or not, to qualify for mortgages to buy a property. The process is more quicker for residents with established ties and credit history. Favorable financing terms are available for residents, with some banks offering up to 80% loan-to-value or 90% loan-to-value for new builds. Non-residents usually receive financing between 50% and 70% loan-to-value.

Mortgage interest rates range from 8% to 13% for up to 25 years, with fixed rates lasting from a year up to 10 years, depending on the bank.

Loan approval is contingent on your credit rating and financial background. Banks will request documents including income tax reports, social security details, employment contracts, bank statements, retirement proof, identity cards, passports, and completed credit bureau authorization forms.

Approval times vary, often taking as little as 3 days when all documents are provided.

It’s important to note that mortgage approval is tied to the specific property. If you decide not to proceed with the intended property, you’ll need to repeat the mortgage application process for a different property.

Loan options:

  • Dominicans: up to 80-90% of property value
  • Foreigners: 50-70% of property value


  • Dominicans in the DR
  • Dominicans abroad
  • Foreigners

Ensuring Loan Viability:

  • Property selection
  • Bank pre-evaluation
  • Property reservation after pre-approval

Bank Pre-Evaluation Requirements:

  • Tax reports of last 2 years
  • 3 last bank account statements
  • Income certification (job letter)
  • Identity documents (ID or Passport)

Pre-approval ≠ Loan Approval:

  • Pre-approval confirms capacity for a mortgage
  • Maintain good credit until final loan request

In conclusion, yes, US citizens can indeed obtain a mortgage in the Dominican Republic. Whether you are a resident or a non-resident, there are opportunities for US citizens to secure financing for real estate purchases in this beautiful Caribbean nation. The mortgage application process and terms may vary based on factors such as residency status, credit history, and the specific property being considered. However, with the right documentation, credit profile, and legal advice, US citizens can navigate the mortgage application process and potentially fulfill their dream of owning property in the Dominican Republic. It’s advisable to work closely with local experts and financial institutions to explore the available mortgage options and make informed decisions that align with your individual goals and circumstances.

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