Notes:
Preferential Interest Law subsidy: Subsidy of two percentage points off market rate.
To be eligible, must satisfy several conditions:
(1) Must be first time buyer
(2) The property being bought must be new construction
(3) The property must be for residential purposes
(4) Amount financed must be in range of $35,000-$120,000 after down payment
(5) Financing can't be more than 95% of appraised value
(6) Must be titled property
(7) Loan cannot exceed 15 year term
Notes: "down payment guarantees that enable families to reduce their down payments from 20 percent to 2 percent" (PROFINCO)
Notes: "down payment guarantees that enable families to reduce their down payments from 20 percent to 2 percent" (PROFINCO)
Notes: "down payment guarantees that enable families to reduce their down payments from 20 percent to 2 percent" (PROFINCO)
Notes: "down payment guarantees that enable families to reduce their down payments from 20 percent to 2 percent" (PROFINCO)
Notes: "down payment guarantees that enable families to reduce their down payments from 20 percent to 2 percent" (PROFINCO)
Notes: "down payment guarantees that enable families to reduce their down payments from 20 percent to 2 percent" (PROFINCO)
Notes: "down payment guarantees that enable families to reduce their down payments from 20 percent to 2 percent" (PROFINCO)
Notes: "down payment guarantees that enable families to reduce their down payments from 20 percent to 2 percent" (PROFINCO)
Notes: "down payment guarantees that enable families to reduce their down payments from 20 percent to 2 percent" (PROFINCO)
Notes: $0-$30,000: 0%
$30,000-$50,000: 1.75%
$50,000-$75,000: 1.95%
>$75,000: 2.10%
Notes: $0-$30,000: 0%
$30,000-$50,000: 1.75%
$50,000-$75,000: 1.95%
>$75,000: 2.10%
Notes: $0-$30,000: 0%
$30,000-$50,000: 1.75%
$50,000-$75,000: 1.95%
>$75,000: 2.10%
Notes: 90-100% is typical depending on the bank
Notes: Banco General, HSBC Bank Panama
Notes: For the Preferential Interest Rate Law: The government compensates mortgage lenders through a tax credit equal to the difference between the Panamanian reference rate and the subsidized rates.
Notes: For the Preferential Interest Rate Law: The government compensates mortgage lenders through a tax credit equal to the difference between the Panamanian reference rate and the subsidized rates.
Notes: For the Preferential Interest Rate Law: The government compensates mortgage lenders through a tax credit equal to the difference between the Panamanian reference rate and the subsidized rates.
Notes: For the Preferential Interest Rate Law: The government compensates mortgage lenders through a tax credit equal to the difference between the Panamanian reference rate and the subsidized rates.
Notes: For the Preferential Interest Rate Law: The government compensates mortgage lenders through a tax credit equal to the difference between the Panamanian reference rate and the subsidized rates.
Notes: For the Preferential Interest Rate Law: The government compensates mortgage lenders through a tax credit equal to the difference between the Panamanian reference rate and the subsidized rates.
Notes: For the Preferential Interest Rate Law: The government compensates mortgage lenders through a tax credit equal to the difference between the Panamanian reference rate and the subsidized rates.
Notes: For the Preferential Interest Rate Law: The government compensates mortgage lenders through a tax credit equal to the difference between the Panamanian reference rate and the subsidized rates.
Notes: For the Preferential Interest Rate Law: The government compensates mortgage lenders through a tax credit equal to the difference between the Panamanian reference rate and the subsidized rates.
Notes: Government-owned banks are mostly funded by retail deposits.
Notes: In 2013, Bancolombia Group acquired HSBC Panama and renamed it as Banistmo.
Notes: Lender fees range from $363.8-$695.5
Loan Processing: $96.30 - $160.50
Legal Services: $267.50-$535.00
Legal Service fees apply when the bank prepares the contract agreements, notarizes the documents and makes the inscription in the Public Registry.
Notes: Most common is a monthly mortgage amount of $100-149 with monthly income of $1000-1499
Notes: No formal LTV cap but individual banks self-impose LTV limits
Notes: No formal LTV cap but individual banks self-impose LTV limits
Notes: No formal LTV cap but individual banks self-impose LTV limits
Notes: Only includes major developers associated with Convivienda
Notes: Only includes major developers associated with Convivienda
Notes: Only includes major developers associated with Convivienda
Notes: Preferential Interest Law subsidy: Subsidy of two percentage points off market rate. To be eligible, must satisfy several conditions: (1) Must be first time buyer (2) The property being bought must be new construction (3) The property must be for residential purposes (4) Amount financed must be in range of $35,000-$120,000 after down payment (5) Financing can't be more than 95% of appraised value (6) Must be titled property (7) Loan cannot exceed 15 year term
Notes: Preferential Interest Law subsidy: Subsidy of two percentage points off market rate. To be eligible, must satisfy several conditions: (1) Must be first time buyer (2) The property being bought must be new construction (3) The property must be for residential purposes (4) Amount financed must be in range of $35,000-$120,000 after down payment (5) Financing can't be more than 95% of appraised value (6) Must be titled property (7) Loan cannot exceed 15 year term
Notes: Preferential Interest Law subsidy: Subsidy of two percentage points off market rate. To be eligible, must satisfy several conditions: (1) Must be first time buyer (2) The property being bought must be new construction (3) The property must be for residential purposes (4) Amount financed must be in range of $35,000-$120,000 after down payment (5) Financing can't be more than 95% of appraised value (6) Must be titled property (7) Loan cannot exceed 15 year term
Notes: Preferential Interest Law subsidy: Subsidy of two percentage points off market rate.
To be eligible, must satisfy several conditions:
(1) Must be first time buyer
(2) The property being bought must be new construction
(3) The property must be for residential purposes
(4) Amount financed must be in range of $35,000-$120,000 after down payment
(5) Financing can't be more than 95% of appraised value
(6) Must be titled property
(7) Loan cannot exceed 15 year term
Notes: Preferential Interest Law subsidy: Subsidy of two percentage points off market rate.
To be eligible, must satisfy several conditions:
(1) Must be first time buyer
(2) The property being bought must be new construction
(3) The property must be for residential purposes
(4) Amount financed must be in range of $35,000-$120,000 after down payment
(5) Financing can't be more than 95% of appraised value
(6) Must be titled property
(7) Loan cannot exceed 15 year term
Notes: Preferential Interest Law subsidy: Subsidy of two percentage points off market rate.
To be eligible, must satisfy several conditions:
(1) Must be first time buyer
(2) The property being bought must be new construction
(3) The property must be for residential purposes
(4) Amount financed must be in range of $35,000-$120,000 after down payment
(5) Financing can't be more than 95% of appraised value
(6) Must be titled property
(7) Loan cannot exceed 15 year term
Notes: Preferential Interest Law subsidy: Subsidy of two percentage points off market rate.
To be eligible, must satisfy several conditions:
(1) Must be first time buyer
(2) The property being bought must be new construction
(3) The property must be for residential purposes
(4) Amount financed must be in range of $35,000-$120,000 after down payment
(5) Financing can't be more than 95% of appraised value
(6) Must be titled property
(7) Loan cannot exceed 15 year term
Notes: Preferential Interest Law subsidy: Subsidy of two percentage points off market rate.
To be eligible, must satisfy several conditions:
(1) Must be first time buyer
(2) The property being bought must be new construction
(3) The property must be for residential purposes
(4) Amount financed must be in range of $35,000-$120,000 after down payment
(5) Financing can't be more than 95% of appraised value
(6) Must be titled property
(7) Loan cannot exceed 15 year term
Notes: Real estate transfer taxes in Panama are 2% of the higher of either the updated registered value of the property or the price at sale. These are paid by the seller.
Notes: Securitization of mortgages minimal
Notes: Self-imposed by banks, this is for houses worth below $45,000, more expensive houses have lower LTVs with 80% being the norm for houses above $120,000 in value
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: Superintendencia de Bancos de Panama
Notes: The property tax rate ranges from 0% to 0.70% for real property subject to family wealth or main residence benefits.
Notes: The property tax rate ranges from 0% to 0.70% for real property subject to family wealth or main residence benefits.
Notes: The property tax rate ranges from 0% to 0.70% for real property subject to family wealth or main residence benefits.
Notes: Through the Banco Nacional de Panama, the State has set up a guarantee fund to reimburse up to 30 percent of any losses incurred on loans with down payment guarantees (PROFINCO).
Notes: Through the Banco Nacional de Panama, the State has set up a guarantee fund to reimburse up to 30 percent of any losses incurred on loans with down payment guarantees (PROFINCO).
Notes: Through the Banco Nacional de Panama, the State has set up a guarantee fund to reimburse up to 30 percent of any losses incurred on loans with down payment guarantees (PROFINCO).
Notes: Through the Banco Nacional de Panama, the State has set up a guarantee fund to reimburse up to 30 percent of any losses incurred on loans with down payment guarantees (PROFINCO).
Notes: Through the Banco Nacional de Panama, the State has set up a guarantee fund to reimburse up to 30 percent of any losses incurred on loans with down payment guarantees (PROFINCO).
Notes: Through the Banco Nacional de Panama, the State has set up a guarantee fund to reimburse up to 30 percent of any losses incurred on loans with down payment guarantees (PROFINCO).
Notes: Through the Banco Nacional de Panama, the State has set up a guarantee fund to reimburse up to 30 percent of any losses incurred on loans with down payment guarantees (PROFINCO).
Notes: Through the Banco Nacional de Panama, the State has set up a guarantee fund to reimburse up to 30 percent of any losses incurred on loans with down payment guarantees (PROFINCO).
Notes: Through the Banco Nacional de Panama, the State has set up a guarantee fund to reimburse up to 30 percent of any losses incurred on loans with down payment guarantees (PROFINCO).
Notes: Total number of house sales
Notes: Total number of house sales