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Rachel Jensen of Grand Baymen – Best Places In The World To Retire User Account
Yes, you can get a mortgage on property in Belize.  Most banks in the States will not loan to an out-of-country real estate purchase, but there are a few in the region that will finance properties in Lain America.  One of the most well known and trusted banks in Belize is Caye International Bank, Ltd.  In addition, some larger developers offer financing.
Ima Faque – Best Places In The World To Retire User Account

It works like this. You are new here so the local banks don't know you, so if you got a long time to get residence and set up a relationship you might get a 50% mortgage at 8% interest. 

There are international banks but as you can read on the web most are gone, or nearly gone. You will even see banks here with public apologies on their homepage about people unable to get their money. Your money is not easy to transfer in and very hard to transfer out with these pint size banks. 

That leave developer loans. Be very careful, they probably will tell you as security they must hold your title. Big red flag. That's not owning that is renting to own. They know 8 out of 10 walk away after a few years and they are free to “sell it “ again and again. 

 

In Belize there are mortgages on titles, they cost a bit to set up, if your developer is sincerely legit they will finance you with a true mortgage on the deed you hold, in your own name. If they say that is called a thing called a Caution, in Belize... that's a lie. A caution is more like a builder lien and often dismissed in courts, if your only claim is a caution on the title you own nothing. If a local Belize bank gave you a mortgage, you would get the title just like at home, anything else is not real financing. NEVER do anything without getting a Belize lawyer to advise you.

 

Don't forget when you go to sell, your next buyer will not have financing either it can take years to get your money back as you play bank.

 

Remember Belize does not regulate Realtors or Developers. Also recourse on faulty construction is almost nil. They can be a shifty as any used car salesman at home. This is not where you're from, and the rules are simpler here, with far less consumer protection. 

Phil Hahn of Carmelita Gardens – Best Places In The World To Retire User Account
New home with wraparound porch being built at Carmelita Gardens, Cayo, Belize – Best Places In The World To Retire – International LivingYes, you can get a mortgage home loan in Belize.  Local banks tend to cater to Belizean citizens, offering small home loans at around 8% interest rates. 
 
However, there are offshore banks located in Belize that will underwrite home mortgages for foreigners, but at a much higher interest rates (9-13%) as well as at high loan-to-value ratios (50% - 60% LTV).  A lot of people find that it’s too steep for them and they find other ways, such as an equity line on a property they have “back home.”   
 
(New home with wraparound porch being built at Carmelita Gardens, Belize, pictured.)
Wayne Robbins of The Placencia – Best Places In The World To Retire User Account
The gated community at The Placecencia,Placencia, Belize – Best Places In The World To Retire – International LivingYes, you can get a mortgage home loan in Belize.  However, in my opinion, because of the conservative nature of the banks in Belize, they are still at a stage where the interest rates are a little bit higher than I would want to pay.
 
My personal preference is to find a project that you like such as the project that we have in Placencia, where we offer developer financing to our owners, and which would allow you a lower interest rate than what you would get in a Belize bank.
 
The good news about that way of proceeding is that even if it is just a short term loan with a balloon at the end (typically it is a 5-year loan with a 25 year amortization), at the end of the 5 years, we will renew that loan for you because there is so much equity in your home, or you will be able to go to an American or a Canadian bank and refinance it at a much lower rate.
 
(The gated community at The Placecencia,Placencia, Belize, pictured.)
Bentley Wildman of Consejo Shores – Best Places In The World To Retire User Account
Seaview lot, Consejo Shores, Belize – Best Places In The World To Retire – International LivingIf you are a foreigner, I don't think you can get a mortgage home loan in Belize.  If you become a resident in Belize I think you have more chance of doing it, but it would still take a while.  I have a mortgage home loan, but I have been here all of my life and I'm a Belizean citizen.
 
What we tell people normally is if you want to mortgage for a home here then try and get it through whatever banking system you've been using in North America. It's very difficult to do it here and you probably wouldn't want to do it anyway. The interest rates are higher and you'll never know what's going to happen. I think I pay around 8.5%.
 
(Lot with a seaview, Consejo Shores, Belize, pictured.)
Boris Mannsfeld of Boris Mannsfeld & Associates – Best Places In The World To Retire User Account
Yes, you can a home mortgage loan in Belize from the banks. The bank may charge a high interest rate though; they may charge 10% interest and they require a 40% down payment.
 
When you apply for a home mortgage in Belize, there is no credit report required; they don’t do credit checks. They basically look at your assets and your cash flow. They will do an appraisal, check your cash flow, debts, and net worth.
 
I am not sure why they do not do credit checks and they are not hooked up to Experian or any of the other credit checking companies.  They are, however, only lending 60% of the value of the property, so they have a good amount of equity in the property in case the lender has a problem paying the loan later.   I think they get enough coverage by just lending you 60%.
 
These are the procedures of all Belize banks and some international ones. There’s one bank here that is from Guatemala and there’s one from England, but they are all based in Belize. There are about four or five banks, so those are your options.

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