Panamanian local customers

One of the many benefits you get when applying to a credit with New World Funding is the low interest of 4.25 % for up to 30 years to residents or foreigners living in Panama.

Residential Mortgage Financing

Adjustable-rate mortgages offer for:

  • Family residences.
  • Condominiums.
  • Townhouses.
  • Duplexes.

Requirements for local Panamanians customers.

Repayment term up to 30 years (Max. Withdrawal Age: 75 years).

REQUIREMENTS:

EMPLOYEES
Original work letter
Copy of Certificate
Copy of Social Security Card
Copy of pay stub
Completed and signed application
Letter signed to authorize the review of credit references

SELF- EMPLOYED / FREELANCE

Copy of Certificate
Copy of the last 2 tax returns from 2010 to 2012
Application completed and signed
Letter signed to authorize the review of credit references
Uptime
Employees
1 year or 12 months continuous employment, and three previous months in the current job.
Self-employed / Freelance 2 years

IMPORTANT:

You must have life insurance policy with coverage for the loan amount. It can be issued by bank group and included in the monthly mortgage payments, if the customer has less than 65 years. A medical exam taken in Panama may be necessary for the insurance policy depending on the borrowed amount and customer’s age.

You can also take fire insurance with the Bank or its independent broker must cover the following incidents: Fire, Lightning, Explosion, Earthquake, Storm, Impact
Vehicles, Flood and Debris Removal and Water Damage.

Commercial Mortgage Financing

Our commercial mortgage financing programs are available for domestic and international customers. We provide funding for:

  • Apartment Buildings.
  • Malls.
  • Warehouses.
  • Office buildings.
  • Others.
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