Loan Information:

• Minimal loan amount is up to US$10,000.00.
• Maximum term of financing up to 20 years
• Loan to value up to 80 % of the value of the property.
• Property Casualty Insurance and Borrower Life insurance
• Interest Rate: 8.5 % annual         (June 2007)
• Possibility extraordinary payments of quotes

The solicitors must complete the following requirements:

• Minimal age: 21 years old.
• Fill up the mortgage application.
• Photocopy of personal identification.
• Present evidence of income (Accounts Reports and Income Taxes Reports).
• Authorization of monitoring credits reports at Bureau.
• Appraisement of the property made from an appraiser authorized by the Financial Entity where you are negotiating.
• Property Taxes Certification (Impuesto a la propiedad inmobiliaria).
• Certification of leans and encumbrances (Certificación de cargas y gravámenes).
• Property Title.
• Open a saving account in the Financial Entity where you are negotiating.
• Signing of the mortgage contract.
• Photocopy of the Contract of Sale signed between (among) the client and the seller.