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How hard is it to get a mortgage in Nicaragua

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jacksonmays
1/17/2022 13:21 EST

Hi everyone, I have been following this exchange for six months and have been very impressed with the quality of the information here.

So let me introduce myself my name is Jan and my family wants to move to Nicaragua to live permanently. My husband and I as retirees and my adult children and there spouses too. As we are trying our best to do as much research as possible ahead of time I have two questions.

1. Does anyone have experience getting a home loan from a bank in Nicaragua. How hard was it and what did you need?

2. My husband and I are going to be able to show 'proof of income' to the Nicaragua through our retirement accounts, but what do my children need to provide? Technically our retirement should be enough to cover them but is that allowed?

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KeyWestPirate
1/17/2022 15:59 EST

Do you have any idea of where you intend to settle ??

A mortgage will be VERY difficult to get if not impossible prior to receiving your residencies.

In the current market,, there IS seller financing. The seller's motivation is going to be that he wants more than the cash market will bear.

The desperate seller market we saw after 2018 has vanished. There WERE some incredible deals, and you might have made a deal with someone fleeing Nicaragua.

I see land sell on the installment plan,, but again,, you will be paying a premium above what the seller would ask in cash.

As to residency income requirements,, kids come in cheaper,, call Arielka,, she just did one,, would know to the dollar.


505 8909 4421 She is on WhatsApp as well


To help you better, the community would have to know better what your plans are.

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KeyWestPirate
1/17/2022 16:48 EST

I missed the ADULT children part.

Do you have ages?

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jacksonmays
1/17/2022 19:18 EST

Nice to meet you Key West Pirate, I have often benefited from your past advice.

Right now I'm looking in the Jinotepe and San Marcos region. We are searching for a large property 5 acres? (enough for a couple of horses) in fairly rural location but with some modern conveniences (like a grocery store nearby. The ideal property would have a caretaker home on it but it is not necessary. We're not picky on where exactly, we're very open.

We're bringing our 22 y/o daughter and 24 y/o husband. Along with my son who is 23.

We are visiting Nicaragua in Feb and would like to see if their are other options besides cash options. Thanks again for all your advice.

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