While most Panama banks are still lending to foreign buyers, many of the large local banks and all of the multinational banks like Scotia, BBVA, and HSBC have age limits, life insurance policy requirements, credit requirements, and income requirements. Anyone that’s applied for a loan in Panama knows that it can be a long, arduous process that may or may not result in success.
The good news is, we’ve partnered up with a licensed private lender who will offer loans to our clients with:
1. No income requirement
2. No credit requirement
3. No Life insurance
4. No age requirement (or limitation)
This private lender will lend 50%-60% of the value of the property. The company is based in Panama and has been approved with all of the necessary lending licenses and the best news is that the process is much easier than working with a traditional bank, and this lender guarantees that it will close and fund your loan in 5 business days!!