Depending upon which development you choose to purchase in, there are different ways to pay.
- Villas Marinas and Seawinds: You will need to have the cash on hand. Often buyers will use equity in property back home to raise the funds to purchase.
- Ocean Village Deluxe: Offers competitive financing in-house. You need to put $100K down and can finance the rest. The interest rate is 5% and terms are 20-30 years.
Note that North American banks will rarely finance property in foreign countries such as the Dominican Republic.
And financing through Dominican banks isn’t usually worth it. You won’t get a competitive term or rate, and the the process takes a long time.