Dual-Passport Expats Can Qualify For 25-Year Fixed Mortgages

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cccmedia Ecuador / Colombia Expert

Member since 13 March 2014

cccmediaEcuador / Colombia Expert02 December 2021 00:00:16

10280

Expats who obtain Ecuadorian citizenship are being offered 4.8 percent mortgages by Mutualista Pichincha (and other banking institutions) to buy a home in Ecuador.

Mutualista Pichincha says its Crédito VIP program will loan up to $70,000 or more to an Expat with Ecuadorian passport who meets its minimum/maximumincome requirements for the 25-year fixed-rate mortgages.

A $4-5,000 down payment may be necessary. Bank and personal references may be required.

The loans are available to native-born Ecuadorians as well as naturalized Expats.

Mutualista says the loans are possible because they are government-subsidized.

Source... Search YouTube.com:
mr. second passport 4.8 percent mortgage

azormes New member

Member since 22 March 2021

azormesNew member06 December 2021 12:41:43

Please provide companies, firms or individuals who specialize in these details.
Respectfully
Lana

cccmedia Ecuador / Colombia Expert

Member since 13 March 2014

cccmediaEcuador / Colombia Expert06 December 2021 18:36:50

10280

cccmedia wrote:
Mutualista Pichincha says its Crédito VIP program will loan up to $70,000 or more to an Expat with Ecuadorian passport who meets its minimum/maximumincome requirements for the 25-year fixed-rate mortgages....

Mutualista says the loans are possible because they are government-subsidized.

Source... Search YouTube.com:
mr. second passport 4.8 percent mortgage

Banco Pichincha, which is a different class of banco, was also mentioned in the report.

cccmedia

antialiased Contributor

Member since 04 February 2018

antialiasedContributor23 December 2021 13:34:08

127

From other information I found online, this looks like a first-time homebuyer program. (info about the program from Mutualista Azuay https://info.mutualistaazuay.com/Menu-P … 9dito-VISP)

I got all excited because with cd rates of 8.5-9%, that would mean you would essentially be getting paid to buy a home ($50k @5% for 25years = $87,689 (P+I) but $50k in a CD for 25 years @ 8.5% is over $100k in simple interest alone).

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