Getting a Mortgage in Nicaragua as a Foreigner

Like this view? Its for sale! Click here to see the listing.

Interested in buying property in Nicaragua? As of 2018 Nicaraguan banks are extending financing, allowing qualified foreign buyers to get mortgages in Nicaragua. Now Americans, Canadians, Europeans and Australians with good credit in their home countries can apply. The minimum down payment is generally 20%, and term lengths of up to 25 years are available. 

The current interest rates in Nicaragua as of February 2018 are between 8.5 and 9.5%. So if it's possible for you to get home country financing, doing so would likely save you money. If you need in- country credit, however, the two banks that are offering financing are Banpro and Banco Lafise Bancentro

Both banks require a similar list of documents in order to apply for financing.

Personal documents required:

  • Passport photo copies
  • Copy of birth certificate
  • Three years of income tax / IRS reports
  • Credit report (Transunion or Equifax)
  • Three months of credit card statements
  • Three months of bank statements
  • Employment letter (if applicable)

The Process:

It is easiest to apply for a mortgage if the property is being built by one of the more reputable developers. An excellent example is the El Cielo development from renowned developer Roger Valerio.  If buying from such a developer, they will help coordinate purchase documents and make the process much easier than if you are buying an existing home. 

    Documents for the property:

    • Copy of the property title
    • Registral history of the Property since 1977
    • Certificate of liens. (Libertad de Gravamen)
    • Evidence of property tax payment. (Solvencia Municipal)

    The banks will arrange and initial meeting to discuss your needs and resources. Then they will request all the above documents. Additional documentation and meetings will be required as necessary based on your individual circumstances. Generally you will be approved within six weeks if applying at Banco Lafise Bancentro. The management at Banpro tends to take longer. If you are in San Juan Del Sur the best bank manager is Carlo Noguera at Banco Lafise Bancentro. 

    Want a call or message to discuss your options? Contact me any of the following ways and I will get back to you as soon as possible to chat about it. Happy house hunting!

    Joel Stott-Jess.jpg

    Joel Stott-Jess

    The author is an agent with Century 21 / Nica Life Realty in San Juan Del Sur. Originally from Alberta, Canada he has been doing business in Nicaragua since 2014. A serial entrepreneur, surfer, and outdoor enthusiast he is an expert on both the real estate and investment markets in Nicaragua.  Thanks to his lovely Nicaraguan wife, a medical doctor, he is also well informed on health care services in the country. 

    Contact Information:

    Joel Stott-Jess

    Century 21 / Nica Life Realty

    San Juan Del Sur

    (+505) 8176 8624

    skype: joel.stott.jess

    Instagram: jstottjess


    Looking for a property you don't need a mortgage on? Check out this Luxury Studio Apartment near the beach for $104,500