Panama Bank Financing
Obtaining bank financing in Panama is available through several international banks. Currently, Panama mortgage interest rates are at their lowest point in over 20 years. Interest rates in Panama are very similar to those of the USA. Please review the charts below for more details about financing.
HSBC
507 (263-5855) |
|
Foreigners |
Residents |
| Interest Rates |
varies according to LIBOR |
varies according to LIBOR |
| Terms |
20 Years |
30 Years for residential housing
15 Years for summer housing |
| Loan Structures |
30 % Down payment / 70 % Financed |
15 % Down Payment / 85 % Financed, $200K + plus
10 % Down Payment / 90 % Financed, $200K - less |
| Require Documents |
3 years of IRS/Tax Returns and Financial Statements
Passport
Bank reference letter |
Letter from work stating income and work history
Social Security statement |
. |
