Dominican Mortgage Broker

Mortgage Financing Offered Through U.S. AAA Prime Bank (Spot Loans) – Currently Limited to American, Canadian and UK Citizens

The loan offered and controlled by an AAA Prime Bank in the US. This is not a local lender.   Our lender offers three loans: Purchase, Cash Out and Refinance. The lender is interested in a high volume turnover. That is, to offer and close high value loans as quickly as possible. If qualified you should have your loan in about 30 days after document submission. Also please note that rates may change due to market conditions. The lender also reserves the right to revise the below conditions based on the loan amount requested, credit report and/or assets.

The following conditions apply:

• The property must have a clear title.  If the title is not available, you can be approved and the file held until the title becomes available. (Max 4 to 5 month after mortgage approval).

• Completely filled lender application form

• Signed borrowers credit release authorization form

• Tax returns for the two (2) most recent years

• Most recent four (4) pay statements. If self employed, a CPA statement

• Most recent asset statements (ex. Stocks, 401k, brokerage account, etc)

• Minimum loan is $150,000.

• LTV is 70% of appraised value. Additionally, American borrowers with an LTV lower than 60%, who have great assets and cannot prove their income, may also be considered. 

• The loan will be a 30 year mortgage fixed for 5 years @ 7.95% then changes to an Adjustable Rate Mortgage (ARM) for the remaining mortgage term.

• You should know within 72 hours about the loan status once the documents are in the lender's hands.

• Fee structure - lender charges a 2% origination fee   

• Mortgage Insurance is NOT required

• Property Insurance IS required (obtained by the borrower)

• U.S. and Canadian citizens can write off loan interest on their tax returns.

Some additional considerations include:

• Debt To Income Ratio

• Property should be within a gated community

• LTV is based on the property appraisal by an approved appraiser

If interested use the contact or apply links located on the home page. Also feel free to contact us direct, see the below information:

Larry & Dagmar Rogers

Dominican Mortgage Broker, C. por A.
Sosua , Dominican Republic
Office Ph: (809) 571-3161
Internet Ph: (772) 539-9662
Fax: (809) 751-4009
Email: info@dominicanmortgagebroker.com