Closing Costs and Fees

Working with Panama banks:

Closing commission charged by bank: aprox. 1.5% of loan
Legal expenses: aprox. 1% of the loan
Management expenses: From US$5.00 and up

Working with international lenders (Future service)

Loan origination fee: 1.5% of the loan
Lender´s processing fee: US$500.00
Wire transfer fee: US$500.00
Title insurance: 1.5% of the loan
Title search: Aprox. US$850.00
Recording fees charged by lender: Aprox. 1200.00

The figures indicated correspond to general information. They may vary depending on the lender and amount of the loan.

Panama Loan Experts fees will be defined as follows:

1. Application Fee of US$500.00 to cover expenses (non-refundable)
2. Success Fees of 1.5% of the total amount of the loan, to paid as follows:

• 0.75% of the total amount of the loan at the moment the bank issues the first letter of terms and conditions stating that has approved a banking facility for the client and states the conditions of the loan. The client agrees to pay this fee even if he/she decides not to take the loan.
• 0.75% of the total amount of the loan at the moment the bank issues the irrevocable letter of payment for the developer. The initial fee will be taken as part of this payment.

   

1. Application Fee of US$250.00 to cover expenses (non-refundable).
2. Fixed Success Fees of US$1000.00 to be paid in full once the loan is approved.
   The minimum amount of the loan must be US$75,000.00

    

The Application fee includes:

• Receiving and arranging all documentation sent by the client
• Preparing files for several lenders at once 
• Completing all lender´s application forms 
• Preparing summary of client´s profile for lender´s easy info access 
• Preparing personal/commercial reference letter for the client's file 
• Filing in complete client´s file at different lenders
• Liaison services with banks for securing mortgages 
• Permanent communication with client to inform progress or to request additional info demanded by lender

   

And most important of all: FREE AND UNLIMITED LEGAL ADVICE through the whole process.

• You will be entitled to receive legal advice from our lawyers within 24 working hours.
• You will also be entitled to have a certified Panama attorney review the final mortgage loan contract provided by the lender in Panama.

   

In conclusion, for a very small application fee you get premium mortgage broker service and legal advice through the whole transaction.  NO ONE ELSE will be able to give you SO MUCH for so little!!!!