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Wow. Talk about a vague one liner...

@belizeboundgirl

Owner financing is much more common than bank financing in Belize due to interest rates and the process to get bank financing.

For example, this is the process Caye International Bank shared in 2020 - these rates may not be accurate now:

Thank you for your interest in financing with Caye International Bank. We offer financing for projects (condo/home purchase, property & construction loans) in Belize, Costa Rica, Nicaragua and Panama.

Our current interest rate is 11% - 13% fixed for the term.  Our loan to value ratio is 50:50, for example, if the value of a property is $1,000,000.00 USD the bank will loan up to 50% ($500,000.00 USD) over a period of ten (10) years.  The collateral used would be over the project that is being financed only.  There is no prepayment penalty if loan is paid in full after the first year, however, if early repayment is made in the first year it will result in a penalty of 5% of the outstanding balance.

Our loan processing fee is 1.875% of the loan amount.

To secure financing through Caye International Bank a borrower will need to establish an account with us.  The minimum amount required to open a personal account is $500.00 USD.  This account is used to facilitate the borrower's loan payment with the Bank.