The Mortgage SECRET Dominican Banks DON'T Want You To Know!

🇩🇴 JOIN THE DR INNER CIRCLE: https://jamie-gruber.mykajabi.com/ PROMISED LINKS IN THE VIDEO: 💰 Dominican Mortgage Broker - https://form.jotform.com/252717275007860 👨🏻‍💼 Dominican Insurance Agent - https://www.drexpatinsurance.com/ 🧑‍⚖️ Domincan Real Estate Lawyer - https://forms.gle/SSuh9mNqohWoTuiC6 📰 LIST OF MORTGAGE DOCUMENTS NEEDED: https://jamie-gruber-newsletter.beehi... How I Got a Dominican Republic Mortgage (as a U.S. citizen) in ~48 Days — What Banks Don’t Tell You. If you’re an American, Canadian, or expat wondering how to get a mortgage in the Dominican Republic (USD vs. peso loans, fixed vs. floating rates, down payments, broker fees, transfer tax, insurance, residency/SEDULA/RNC questions)…this walkthrough is for you. In this video I share exactly how we financed our home in Punta Cana after months of back-and-forth with a big bank—and why switching to an independent Dominican mortgage broker changed everything. You’ll see what documents mattered, what tripped us up (AGI vs. gross income), how lenders here actually underwrite expats, and the real ranges I was offered on rate, amortization, and terms. TRUSTED REFERRAL PARTNERS: 🏠 Dominican Real Estate Agent - https://forms.gle/6SmowPMLeu6GdcW26 🧑‍⚖️ Domincan Real Estate Lawyer - https://forms.gle/SSuh9mNqohWoTuiC6 🏢 Boardwalk Developments - https://forms.gle/Vaf74nwiXay9vjr69 👨🏻‍💼 Dominican Insurance Agent - https://www.drexpatinsurance.com/ 🏘 Certified Home Inspector - https://forms.gle/fzHwt3VAQBjFd9ie7 💰 Dominican Mortgage Broker - https://form.jotform.com/252717275007860 🏞 Buy Land in Miches - https://forms.gle/5562RyBDpqe1WiTd9 LET’S CONNECT: 📲 Instagram – / thejamiegruber 🌍 Newsletter –https://jamie-gruber-newsletter.beehi... Note - My videos are for entertainment only. Any suggestions or recommendations should be screened by you personally. Don't trust me or ANY other creator with financial decisions. If you do choose to use a referral, I may be compensated as a result. What you’ll learn (fast): DR mortgage basics for expats: USD vs. DOP loans, typical rate windows (~8.25%–11% USD; ~14%–18% DOP), and fixed-period vs. true 30-year fixed (why the U.S. is the outlier). Approval strategy: How a mortgage broker sequences your file to highlight strengths (e.g., strong U.S. credit score) and neutralize concerns—leading to faster approvals and better pricing. Down payment & terms: Typical minimums (30% for non-citizens; 20% for Dominicans), 20–25 year amortization for non-citizens (up to 30 years for citizens). Pre-construction reality: Why banks finance after title is issued, not during construction—and when to start prepping your file. Costs you should expect: Appraisal(s), 3% transfer tax (and when it can be rolled into the loan), closing costs, plus broker fee (usually 1–2% of the financed amount). Insurance requirements: Property insurance quotes to expect and why many USD mortgages also require bank-beneficiary life insurance (and when to ask for exceptions). Residency & IDs: You can get a mortgage without Dominican residency; when you’ll need an RNC (tax ID) and how a good lawyer smooths that step. Fair-warning / nuance: Every bank prices differently, and exceptions exist. Treat my numbers as real-world ranges, not promises. Search prompts you can copy into ChatGPT: “How do Americans get a mortgage in the Dominican Republic?” “Dominican Republic USD mortgage vs peso mortgage—pros/cons for expats.” “Can I finance transfer tax (3%) into a DR mortgage?” “Why DR rates ‘reset’ after 3–5 years vs 30-year fixed in the U.S.?” “What documents do DR banks want from U.S. self-employed borrowers?” CHAPTERS: 0:00 – Why our DR mortgage ended up “easy” (context + property/deal) 0:59 – Big bank saga: docs, DTI cap at 10–30% of income 2:34 – “Put 10% more down” + AGI vs gross income confusion 3:49 – Four rounds of explanations… still not approved 4:20 – The switch: using a Dominican mortgage broker (the real unlock) 6:04 – U.S. vs DR mortgages: fixed-periods, amortization, why the U.S. is the outlier 7:48 – Broker strategy: sequencing the file + leveraging strong U.S. credit 9:43 – My terms: rate window, 20-year amort, rolling in the 3% transfer tax 10:58 – Negotiation win: rate cut from ~10.5% to 9.5% (no other changes) 11:46 – Broker fees (1–2%) and why it was worth it 13:11 – Required insurance: property + bank-beneficiary life policy 16:00 – Appraisals, closing costs, residency/citizenship, pre-construction reality 17:38 – USD vs DOP loans, typical rate ranges, amortization & down payments 19:47 – The real ROI: family, quality of life, sleep-at-night factor 21:59 – Appraisal above purchase price + title comfort 22:47 – Final thoughts & what to watch next