• FIRST ALERT Nicaragua • FIRST ALERT Nicaragua • FIRST ALERT Nicaragua •
Bank Financing Comes to Rancho Santana
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If you'd like to own property here at Rancho Santana - or if you're
already an owner, and would like invest in a second property - we have good news…
12 April , 2007
Rivas, Nicaragua
Dear Nicaragua First Alert Reader,
I just received this note from Tom Gordon at Rancho Santana, one of Nicaragua’s largest and most popular oceanside communities.
It marks a financing milestone in the Nicaragua market – welcome news to anyone who’s ever wanted to get into this market now before prices appreciate further.
Says Tom,
“If you'd like to own property here at Rancho Santana - or if you're already an owner, and would like invest in a second property - we have good news…
“We've struck a financing agreement with a stable bank ready and willing to work with Americans who'd like to own property here.
“BDF (Banco de Finanzas) is one of Nicaragua's most reliable and experienced banks. The bank, owned by Panamanian investors, began operations in 1992. Its correspondent bank in the U.S. is Bank of America in Miami.
“BDF will finance up to 75% of the cost of an undeveloped lot for seven years, with the deed to your property delivered at payoff.
“The interest rate is extremely competitive for this market - currently 9.5%, adjustable. Closing costs - including attorney's fees, bank document preparation charges and administrative fees - are 2.75%.
“The paperwork required is similar to what you'd expect with a property loan in the U.S. BDF takes only about two to three weeks to approve loans after the paperwork has been submitted. You do have to fly down for the signing - but who wouldn't welcome an excuse to take a couple of extra days' vacation in paradise?”
Good point, Tom!
If you've ever considered owning property at Rancho Santana, this could make the difference for you.
Also, Rancho Santana has three home sites in The Estates community being offered at a
10% discount, which along with this new financing option, are compelling buys. These sites range from nearly an acre to an acre and a half, and are priced at only $65,000 to $95,000.
For more information on these discounted lots in Rancho Santana’s Estates community, or for information on financing any purchase at Rancho Santana.
Regards,
Dan Prescher
Latin America Property Scout
P.S. Nicaragua is, undoubtedly, one of the most beautiful countries in Central America. Majestic mountains and towering volcanos, fertile valleys, and absolutely gorgeous and pristine beaches. If you’d like to know more, but can’t plan a trip to Nicaragua right now, maybe you can find time to visit with us in Las Vegas? Over three power-packed days at the world-famous Palms Casino Resort in Las Vegas, Nevada, April 23-25, 2007, you’ll take your first big step towards living in Paradise...in Nicaragua or wherever that may be. Learn more about our Live Overseas Conference here.
Note: In the interest of full disclosure, we want you to know that International Living receives commissions from sales at Rancho Santana. As always, we caution you to buy what you see, not what is promised.