Which Banks in the Dominican Republic Lend to Non-Residents? (2026 List)

Which Banks in the Dominican Republic Lend to Non-Residents? (2026 List)

If you're a foreign buyer eyeing a condo in Punta Cana, a villa in Las Terrenas, or an apartment in Santo Domingo, one of your first practical questions is whether you can finance the purchase locally. The short answer in 2026 is yes — a handful of Dominican banks lend to non-residents, but with stricter terms, more documentation, and higher rates than you'd see at home. This guide walks you through which banks are active in the non-resident space, what to expect, and where the real-world friction lies.

Mortgage products, rates, and underwriting criteria change frequently. Always confirm current terms directly with the bank and review your loan offer with an independent licensed Dominican attorney (abogado) before signing anything.

Can foreigners actually get a mortgage in the DR?

Yes. Foreign buyers — resident or not — can own property in the Dominican Republic on equal footing with Dominicans, a right grounded in constitutional equal treatment (Articles 25 and 221 of the Constitution). There is no requirement to be a resident to take title, and no presidential authorization needed for coastal or near-border purchases (the often-cited "60 km Haiti border ban" is a myth; the only real coastal restriction is the 60-meter maritime zone under Law 305 of 1968, which is public land for everyone).

However, owning property and financing property are two different things. Dominican banks are conservative with non-resident lending because their recourse against a foreign borrower who defaults is limited. Expect:

• Higher down payments than locals (often 30–50% of appraised value)
• Shorter amortization periods (typically 10–20 years)
• Higher interest rates, especially on USD-denominated loans
• More documentation, including notarized and apostilled financials from your home country
• Slower approvals — plan on 60–120 days from application to disbursement

Many foreign buyers ultimately decide that cash, a home-country HELOC, or a developer payment plan is faster and cheaper than a Dominican mortgage. Still, local financing is a real option, and these are the banks most likely to consider you.

Banks that lend to non-residents in 2026

The list below reflects banks that have historically had active non-resident mortgage programs or that regularly close loans for foreigners. Confirm current product availability directly — banks open and close these programs based on portfolio appetite.

1. Scotiabank Dominican Republic

Scotiabank is the bank most foreign buyers hear about first, and for good reason: as part of a Canadian parent group, it has the clearest cross-border infrastructure for North American clients. It typically offers USD-denominated mortgages for non-residents, accepts US and Canadian income documentation, and has English-speaking mortgage officers in tourist markets like Punta Cana and Santiago.

• Best for: US and Canadian buyers with W-2/T4 income or strong tax returns
• Watch for: Conservative loan-to-value ratios on pre-construction; appraisal-driven valuations that may come in below contract price

2. Banco Popular Dominicano

The largest private bank in the country, Banco Popular has a mortgage product line that can accommodate foreigners, especially those with some local footprint (a DR bank account, an RNC, or partial residency). Its branch network is unmatched, which helps with the practical mechanics of closing.

• Best for: Buyers who already have or will open a DR banking relationship
• Watch for: Documentation expectations that lean toward residents; non-resident files may be routed to a specialty desk in Santo Domingo

3. Banreservas

Banreservas is the state-owned bank and the country's largest by assets. Historically more focused on Dominican borrowers and government-linked employees, it has expanded retail mortgage offerings and will consider non-residents in certain projects — particularly large, well-known developments where the bank has a master credit relationship with the developer.

• Best for: Buyers purchasing in projects where Banreservas is the construction lender
• Watch for: Longer processing times; preference for pesos-denominated lending

4. BHD (Banco BHD)

BHD has a meaningful mortgage book and competes directly with Popular and Scotiabank. It has done non-resident loans, often through private banking or premier-tier relationships, and is worth approaching if you can show meaningful liquid assets.

• Best for: Higher-net-worth buyers, private-banking clients
• Watch for: Minimum loan sizes that may exclude smaller condo purchases

5. Asociación Popular de Ahorros y Préstamos (APAP) and other asociaciones

Dominican savings-and-loan associations (asociaciones de ahorros y préstamos) like APAP, Asociación Cibao, and Asociación La Nacional are major mortgage lenders to Dominicans and occasionally lend to foreigners — typically those with stronger local ties (residency in progress, DR-source income, or a Dominican spouse).

• Best for: Buyers who plan to relocate and establish residency
• Watch for: Limited English-language support; more peso-denominated products

6. Developer in-house financing

Not a bank, but worth flagging: many larger developers in Punta Cana, Cap Cana, and Las Terrenas offer in-house payment plans during construction and sometimes carry-back financing for 3–10 years after delivery. Terms vary wildly. These are not regulated like bank mortgages, so the contract language matters enormously — have your attorney review every clause.

What documents you'll need

Expect to provide, at minimum:

• Valid passport (and a second photo ID)
• Proof of income: last 2–3 years of tax returns, recent pay stubs, or audited financials if self-employed
• Bank statements: typically the last 6–12 months from all relevant accounts
• Credit report from your home country (some banks accept a notarized self-declaration plus reference letters from your home bank)
• Source-of-funds documentation for the down payment — this is non-negotiable under DR anti-money-laundering rules
• Reference letters from your existing bank(s)
• Documents originating abroad usually need to be apostilled and translated by a Dominican judicial interpreter

Source-of-funds compliance has tightened across the region. Be ready to show a clean paper trail from the origin of the funds to the wire that lands in the DR.

Rates, terms, and the USD vs DOP question

Rates change with central bank policy and individual bank pricing, so any number quoted online is likely stale. As a qualitative guide for 2026:

• USD mortgages for non-residents typically price meaningfully above US 30-year fixed rates
• DOP (Dominican peso) mortgages carry higher headline rates but no FX risk if your rental income is in pesos
• Amortization is usually capped shorter than US norms — 15 to 20 years is common, 30 years is rare for non-residents
• Down payments of 30–50% are standard; 20% is exceptional and usually requires strong compensating factors

Always ask whether the rate is fixed, variable, or fixed-then-variable, and get the full APR including life insurance, fire insurance, and any required bank fees.

Closing costs you'll still pay

A mortgage doesn't change who pays what at closing. As the buyer, you are still responsible for:

• 3% transfer tax (ITI) to DGII, calculated on the higher of the contract price or the DGII appraisal (not simply the sale price)
• Notary and legal fees (typically a percentage of the price; negotiable)
• Registration fees at the Registro de Títulos
• Bank-side fees: appraisal, origination, life and fire insurance premiums

If you're buying a CONFOTUR-certified project (Law 158-01), the transfer-tax exemption realistically applies to the first buyer from the developer — resale buyers usually don't inherit it. Confirm the certification and your eligibility with the developer and your attorney.

Short FAQ

Do I need DR residency to get a mortgage? No, but residency or a local banking relationship materially improves your odds and terms.

Can I use a Dominican SRL (LLC) to borrow? Sometimes, but most non-resident mortgage programs are underwritten on the individual. Corporate borrowing is a separate, more complex product.

Will the bank lend on pre-construction? Often only after delivery and titling. During construction, you typically use developer financing, then refinance into a bank mortgage at handover.

What about capital gains when I eventually sell? Capital gains on Dominican property are taxed as ordinary income on a progressive scale for individuals (not a flat 27% — that's the corporate rate), computed on the inflation-adjusted gain. Verify the current brackets with DGII or a Dominican contador.

Is title insurance available? Yes, through a few international providers active in the DR. It's optional but worth pricing, especially on resales.

Bottom line

Local financing in the DR is possible but rarely cheap or fast. Scotiabank, Banco Popular, BHD, Banreservas, and the major asociaciones are the realistic starting points in 2026. Get pre-qualified before you sign a promesa de venta, build the financing contingency into the contract, and have an independent Dominican attorney — not the seller's or developer's lawyer — review every document. Laws, rates, and bank programs change; confirm everything current with the bank, DGII, and a licensed professional before you commit.