Getting a loan in Colombia

A difficult mission for expats

Getting a loan for a mortgage or for other financial reasons can be quite difficult for expats. There are however, some circumstances that may permit you to get a bank loan.

Getting a loan in Colombia

Mortgages and financing

The current mortgage rate for property is between 15-18% per year. This is usually a short term loan of 5 to 15 years and are given mostly to only Colombian nationals. Direct financing is not available for foreigners in Colombia.

Although it may be difficult to get a loan as an expat, some banks will grant you one if you meet the following conditions:

  • You are married to a Colombian national
  • You have been living in Colombia for more than six months
  • You plan to buy for living and not as second home
  • You already have a local bank account

Mortgages and financing

The current mortgage rate for property is between 15-18% per year. This is usually a short term loan of 5 to 15 years and are given mostly to only Colombian nationals. Direct financing is not available for foreigners in Colombia.

Although it may be difficult to get a loan as an expat, some banks will grant you one if you meet the following conditions:

  • You are married to a Colombian national
  • You have been living in Colombia for more than six months
  • You plan to buy for living and not as second home
  • You already have a local bank account

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