Most expats, especially retirees, find that they are able to buy property outright in Ecuador, negating the need for a mortgage. However, if you’re buying at the higher end of the market, or don’t have enough capital to pay for a property in full, then you’ll need a financing plan.
The Ecuadorian property market is dominated by investors with enough capital to pay for property in full. This is because Ecuadorian banks are reluctant to offer long-term financing and there is a limited range of mortgages available. Rates will be high, so consider more short-term financing options which are commoner and easier to secure.
Another possibility is to get a mortgage with a bank abroad - preferably one which also operates in Ecuador. If you already have a property in your home country, think about remortgaging it to give you the capital you need to buy.