Don Carr from Caribbean Mortgages (www.caribbeanmortgages.net
) discussed his company’s plans to offer up to 30-yr fixed mortgages to US citizens wishing to purchase property in Belize. The rate is 7.5%, a significant reduction from 12.5%, which is considered Prime in Belize at this time. The company is already offering loans to US buyers all over the Caribbean and Central America and has about 70 developers presently involved in using this avenue of financing for their customers. The loans will range from 100K to 2.5 million for individuals - 25 million is the highest amount they’ve brokered for a developer. Normal US standards will be maintained requiring lower down payments, and certified appraisals.
An open meeting for Developers and Real Estate Agents will be held this coming Monday at 2 pm at Ramon’s Village. For more info, contact Don at [email protected]
Loans for Canadians and Europeans are in the works, but are not available as of yet.