vacation homes

Beautiful Nicaragua vacation houses are now more accessible than you would ever think possible. Each day brings more exciting financing opportunities to the Nicaragua real estate market.

The Central American real estate market has exploded over the past few years. The area is beautiful & the land values are compelling. Retiring Americans have discovered that Nicaragua real estate offers the same great sun & sand that can be found in Costa Rica but for half the price. Nicaragua boasts great hiking & bird watching. It is the land of lakes & volcanoes & coffee farms. Nicaraguan vacation homes have really become popular amongst retiring Americans. Up until recently the drawback with Nicaragua real estate was that most deals were done on cash only basis. Thankfully this scenario has changed as the investment market matures & various new financing options have emerged.

It is now possible to secure financing from some of the more prominent & reputable Nicaraguan banks such as BDF Bancentro & BAC. Qualified buyers with the right documentation can access loans of up to 80-95 persen of the total purchase price. Although interest rates are becoming more competitive they still float in the range of 9-12% per annum amortized over 10 years. Most mortgages contain an option to extend the amortization by another five 5 years.

Multiple resort developments are offering developer financing. This type of financing can provide the savvy purchaser with a great deal. For example a brand new beach condominium project within walking distance of the shops & bars & restaurants of San Juan del Sur is offering 15 year financing at 9% interest. This development is upscale & located right on the beach. Other nearby developments are offering 7 year financing on condos ocean view lots & completed houses at 8% with a 30% down payment. Even if it not advertised you should ask about developer financing.

Some of the bigger developments even offer another very familiar option. These developers have relationships with American style mortgage brokers. This type of American style financing offers a longer term. The terms of interest related to these loans tend to be similar to those in the States which are very low right now.

Another means by which to get the money for your Nicaragua vacation home is called a vendor take back mortgage. Although less common than the other types of financing it can be worth asking the vendor if he or she would consider it. These days there are an increasing number of Nicaragua real estate deals closing on these terms. The North American credit market has become very tight & Vendors know this. For the right vendor this might be the perfect way to a quick sale.

Financial assistance in buying your Nicaragua vacation home is now available. These financing options have made Nicaragua real estate more attractive than ever. These options coupled with Nicaragua’s low cost of living make investing in Nicaragua Real Estate more interesting than ever before. Financing your Nicaragua vacation is now a real possibility.

check out nicaraguan realestate to read more about vacation houses in nicaragua.