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Loans
Jan
9
2012
I seen this on your website, does this apply for Americans moving to Ecuador or just locals?
As we begin 2012, Ecuador banks are giving home loans starting around 8-11% APR and asking for at least 30% down
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Answer #1
To my knowledge it is almost impossible for a foreigner to get a home loan here, regardless of how much money you put down. Most of the financing ads you might see are for locals as the government is trying to make home ownership available to all of its citizens. You may be able to get a short term loan through a developer though but normally this will be very short term and higher rates.
larryp