The Dominican Republic is one of the Caribbean’s most attractive destinations for real estate investment. If you’re a foreigner considering buying property, the good news is that you can apply for a mortgage loan in the country—as long as you meet certain requirements set by local banks.
At Polameric, we break down the essentials to help you get started with clarity and confidence.
✅ Basic Requirements for Foreigners
1. Personal Documentation
- Valid passport.
- National ID from your home country.
- Dominican residency card (if applicable).
- Proof of address (utility bill or similar).
2. Proof of Income
Dominican banks require verifiable and stable income. Typically, you must provide:
- Employment letter or income certification.
- Tax returns (past 1–2 years).
- Recent bank statements (last 3–6 months).
- If self-employed: financial statements, contracts, or client references.
💰 How Much Do You Need to Earn?
Although this varies by bank, your monthly loan payment should not exceed 40% of your gross monthly income.
👉 Example: If your projected mortgage payment is US$1,000/month, you should demonstrate at least US$2,500/month in income.
Many banks accept income in USD or EUR, especially if you’re a non-resident applicant.
🏦 Typical Loan Conditions
- Down payment: 20%–30% of the property value.
- Interest rate: 7% – 12% annually, depending on the bank and currency.
- Loan term: Up to 25 years.
- Currency options: Dominican pesos (DOP) or US dollars (USD).
📄 Other Required Documents
- Property appraisal (by an approved firm).
- Property title certification.
- Purchase agreement or sale promise.
- Bank reference letter.
- Insurance (life and property, usually mandatory).
🏖️ Banks That Work with Foreign Clients
Several Dominican banks have loan products tailored for non-residents:
- Banco Popular Dominicano
- Banreservas
- Scotiabank
- BHD León
These institutions frequently finance properties in Punta Cana, Santo Domingo, Las Terrenas, and La Romana.
✍️ Polameric’s Recommendations
- Work with a local mortgage advisor or lawyer.
- Prepare your documents in advance.
- Consider legal support for the purchase process.
Ready to Make Your Move?
Buying property in the Dominican Republic as a foreigner is not only possible—it’s a smart move with the right guidance. At Polameric, we’re here to support your investment journey every step of the way.
