Currently (October 2009) the interest rate in Dollars is an average of 8.5% and 9.5% in Quetzales. A minimum of 30% of the value of the property is required as down payment. The balance can be paid in up to 20 years, although a few banks could offer up to 25 years.

Please choose your nationality for further information regarding financing.

Foreigners

Guatemalans living outside of the country

Guatemalans living in the country

Financing for foreigners

Generally, purchasing a home in Guatemala by a foreigner has always been a cash proposition. As more and more foreigners are inquiring, we have managed to make arrangements with several local banks to provide funding. This process could take several weeks as banks need to verify all documents presented in your country of origin.

The following requirements will satisfy the lender.

1. A Guatemalan co-signer residing in Guatemala. The co-signer must approve for the loan by himself / herself.

2. A copy of bank account statements for the previous 6 months showing a reasonable cash flow and balance.

3. A certified copy to verify employment or business ownership.

4. A financial statement showing current assets and liabilities (short and long term)

5. A copy of a current passport.

6. A minimum down payment of 30% of the appraised value of the home. The buyer is responsible to have
the appraisal done. The appraisal will not be required until the loan has been approved as to the credit worthiness of the buyer.

7. The lender will, with the written agreement of the buyer, undertake to obtain a credit bureau report from the purchaser country of residence.

All documents must be presented by both, the buyer and co-signer.

Century 21 Casa Nova can provide an online solicitude from a Mortgage Broker Company to complete the information. Previous to filling out the online soliticude, we strongly suggest to provide the full name and Cedula number of your co-signer for a pre-approval. Banks can confirm rejection or pre-approval in 8 days.

Financing for Guatemalans living outside of the country

Guatemalans can purchase property in Guatemala as long as they reside abroad legally.

The following requirements will satisfy the lender.

1. A Guatemalan co-signer residing in Guatemala. The co-signer must approve for the loan by himself / herself.

2. A copy of bank account statements for the previous 6 months showing a reasonable cash flow and balance.

3. A certified copy to verify employment or business ownership.

4. A financial statement showing current assets and liabilities (short and long term)

5. A copy of your current passport and Cedula.

6. Photocopy of NIT (Numero de identificacion Tributaria)

7. Working permit from the corresponding authority.

8. Document from Immigration stating the type of residency and obtained visa.

9. A minimum down payment of 30% of the appraised value of the home. The buyer is responsible to have
the appraisal done. The appraisal will not be required until the loan has been approved as to the credit worthiness of the buyer.

10. The lender will, with the written agreement of the buyer, undertake to obtain a credit bureau report from the purchaser country of residence.

All documents must be presented by both, the buyer and co-signer.

Century 21 Casa Nova can provide an online solicitude from a Mortgage Broker Company to complete the information. Previous to filling out the online soliticude, we strongly suggest to provide the full name and Cedula number of your co-signer for a pre-approval. Banks can confirm rejection or pre-approval in 8 days.

Financing for Guatemalans living in the country

For Guatemalans residing in Guatemala, the following requirements will satisfy the lender.

1. A copy of bank account statements for the previous 6 months showing a reasonable cash flow and balance.

2. A certified copy to verify employment or business ownership.

3. A financial statement showing current assets and liabilities (short and long term)

4. A copy of your Cedula.

5. Photocopy of NIT (Numero de identificacion Tributaria)

6. Photocopy of a utility bill (water, electricity or telephone)

7. A minimum down payment of 30% of the appraised value of the home. The buyer is responsible to have
the appraisal done. The appraisal will not be required until the loan has been approved as to the credit worthiness of the buyer.

Century 21 Casa Nova can provide an online solicitude from a Mortgage Broker Company to complete the information. Previous to filling out the online soliticude, we strongly suggest to provide your full name and Cedula number for a pre-approval. Banks can confirm rejection or pre-approval in 8 days.