International Mortgages

It is possible to mortgage investment, holiday, or retirement property in Canada, the Dominican Republic, or the United States. Many people are buying property outside of their own borders, escaping winter, or planning to retire in another country. They are also discovering that having an investment property in a holiday zone is a sound idea that can generate them an income when they aren't using the property themselves.

MORTGAGE FINANCING:
At Mortgage Innovations we are able to offer mortgage financing to Canadian, British, and American clients. You can look forward to competitive interest rates, long amortizations, and a generally, a favourable tax write off. The process is the same no matter where the property is located, or which lender is used. There are two options for financing an investment or recreational property:

1. Refinance an existing property to pay for the new purchase (open only to Canadian clients)

• Often a better option as rates are Canadian (between 3-5%)
• More mortgage products are available to you
• It takes less time
• For more information , please visit our re-financing page, or contact us and we will be happy to explain the process to you. All regular Canadian mortgage documents apply.

2. Place a new, first mortgage on the property being purchased;

• Interest rates are between 7-10%
• Amortizations up to 20 years
• 35% downpayment required
• The approval process is similar to that of Canada, with lenders requiring similar documentation
• You can be self-employed

Steps to Obtaining Foreign Property Financing

If you would like to search DR property listings, please visit DRProperties.ca. There you will find great properties, in gated communities, with full management and rental services, as well as other excellent information about buying in the Dominican Republic.