Financing Options And Mortgages At Veritas Village

Thinking of buying a home in a fully off-grid community without compromising on modern conveniences? Then Veritas Village is for you!

What’s more, your financial situation will not be an issue if you want to get a house. Here, we accommodate your specific needs so that you can comfortably get the home of your dreams. 

Whether you’re a first-time expat buyer looking for a peaceful retreat or an investor wishing to generate rental income, we will make sure your path to ownership is as smooth and flexible as possible. In this article, you’ll learn about the different financing options available in Veritas. 

Interior of Sapayoa house project

INTERNAL VENDOR FINANCING

Imagine you’ve got some money to pay part of the full price but can’t (or don’t want to) pay the remainder immediately. Internal vendor financing is the way to go. As opposed to conventional mortgages, which are more rigid and less customizable, you can work hand-in-hand with the developers to create a payment schedule aligned with your financial situation—typically in installments for up to 18 months. 

This payment schedule offers a great deal of breathing room for you to focus on other aspects of your move or construction—all without paying a large lump-sum amount. Once the payment plan is completed, the process of transferring the title starts. This plan is perfect for you if you prefer a more gradual payment approach. 

UPFRONT PAYMENT

If you don’t mind paying full price upfront, there’s no faster path to ownership than that. Not only does it simplify the transaction, but it also expedites the title transfer process, which will allow you to complete the title transfer process quickly. Paying upfront is a strategic choice if you want to start construction and avoid some of the complexities of financing arrangements. 

So, if you’ve got the means to invest all at once and prefer the peace of mind of knowing that your property is fully paid for, upfront payment is your best bet. With the title transfer process initiated immediately, you can directly focus on designing and building your new home in the tranquil tropical setting of the highlands of Panama. 

Backyard of the Aguila house project

EXPANDED MORTGAGE OPTIONS

If none of the above options are okay with you, there’s still a third option worth considering: mortgages. Back in the day, it was hard for expats to get one, but times have changed, and Panamanian banks are offering better financing terms. Indeed, we’ve established relationships with several local banks facilitated by a mortgage broker specializing in expat financing. 

With this financing option, we open up the community to a larger pool of potential residents, including those who didn’t feel as comfortable paying all at once. However, more expats can explore the opportunity to live in a community that combines independence, sustainability and care for the environment around them. 

Although interest rates in Panama may be higher than in Europe or North America, you can find amortization options of up to 20 or 25 years. That’s a manageable solution! You can then spread your payments over a significant time period and make your dream of owning an off-grid property more attainable. 

CASE-BY-CASE ANALYSIS

Lastly, if you still need a more customized solution, don’t worry. At Veritas Village, we understand that each buyer’s financial situation is different. As such, we are committed to working with prospective residents on a case-by-case basis. Regardless of your financial considerations, the team at Veritas Village is ready to help you navigate the process. We will sit down with you and figure out a solution you’ll be comfortable with. 

FINAL THOUGHTS

Veritas Village offers a variety of flexible financing and mortgage options that cater to different financial needs and situations. Whether you prefer an upfront payment, internal vendor financing, or a long-term mortgage, there is a path to homeownership that suits your needs. With these different options, Veritas Village offers an off-grid, sustainable living while making this lifestyle accessible to those who seek it.