I am looking information on any US bank, or financial institution that provides financing for properties in DR. Specifically for properties in Bavaro, Punta Cana area.
I did a little googling around and found this website https://www.hardmoneyloansolut... they gave good reviews in both Facebook and google. Seems legit and they do business in the Caribbean
I believe that your best bet will be to use financing in the Dominican Republic or some kind of HML that knows the market. There are not as many banks in DR and if they don't know the market they won't invest in it. In fact the only international bank that I know over there is Scotiabank and they are Canadian.
I did a little googling around and found this website https://www.hardmoneyloansolut... they gave good reviews in both Facebook and google. Seems legit and they do business in the Caribbean
Investor · The Americas and Europe · Member since 2016 · 1k+ posts · 1k+ votes
7y
As I mentioned in other posts, banks will never finance a property in a foreign country because they don't have the necessary means, knowledge and willingness to go through a foreign legal system to repossess the property should the borrower default on his mortgage.
If you hear or read that somebody got a property financed by a local bank in a foreign country, this is because that bank took some local assets as collateral or gave an unsecured loan. Obviously, this is not a financing specifically for the overseas property and the borrower could use the money to do anything they want.
If you have local partners, you can access the local banking system like I do or otherwise US HMLs might be a solution, as indicated by @Jose Batista Abikarram