In Panama, most banks require a life insurance policy to obtain a mortgage.
Problem is, most life insurance companies will not write a policy for clients over the age of 70.
Meaning they are practically mortgage ineligible.
But one bank is now willing to write a mortgage and forego the life insurance policy requirement in exchange for an additional 10% down.
That means for Panama Equity clients who are over age 70, this bank will be able to offer up to 60% loans at competitive rates which at the time of publishing are at just over 6% per year.