Mortgage

Whether you are planning to build a house, purchase a house, or just add a room, Banco di Caribe can offer you the mortgage you need at low rates. You may also get pre-qualified for a mortgage. Our mortgage expert will inform you approximately how much you can afford to borrow which will help you determine the price range of the house before you start shopping. The most common type of mortgage in our markets is the annuity mortgage, where your monthly payments will remain unchanged, as long as the interest rate remains the same. The annuity concept entails that in the beginning a large part of your monthly payment will go to the mortgage interest portion (tax deductable) and a smaller part to the mortgage repayment portion. In the latter half of the mortgage term, the opposite occurs. Banco di Caribe's annuity mortgage enables many like you to make their dreams come true, thanks to the low interest rates and consequently the low net interest charges in the beginning of the loan. If you believe you are spending too much time and money paying different loans, (including credit cards) with high interest rates, the consolidation of your debt might be a viable solution. If you already own your home and thus have equity in it or have an acceptable collateral, you may qualify to consolidate your debts in one loan, which will generally lower your monthly payments and insurance premium.

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