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Until recently, property purchases on Ambergris Caye were either cash purchases or were a combination of cash and owner financing. Owner financing depended on the financial needs of the owner and several years ago, a “10/10/10” deal – 10% down, 10% interest, 10 year amortization was not uncommon. As the market values of properties were increasing between 15% and 40% per year, owners soon realized that such financing was not in their best financial interests! Some owner financing is still offered but terms today range from 30% to 50% down, usually 10% interest, amortized over 5 to 10 years but with a 3 to 5 year full balloon payment. |
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During the last year, several new financing options have become available for foreign purchasers not residing full time in Belize. Local Belizean banks have joined the mortgage market for non-resident purchasers with terms similar to U.S./Canadian mortgages but with a slightly higher interest rate and a shorter amortization period. CORAL BEACH REALTY has made arrangements with two local banks (internationally owned!) to pre-screen applicants with applications forms available for these local financing options.
DISCUSS YOUR FINANCING NEEDS WITH US ! 100% CONFIDENTIAL! |
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