Top 10 Best Banks in Panama for Accessing Mortgage Loans in 2024
Currently, there are various offers in the country through which you can access a mortgage loan. However, finding a bank that provides the credit you need and also fits your purchasing capacity can be a cumbersome process. That's why we've compiled a top 10 list of banks in Panama that you can consider for a mortgage loan for investing in a home.
- BAC Credomatic
BAC Credomatic currently offers different solutions for your housing plan; you can access a loan of up to $500,000. Some of the benefits they offer include ease of loan approval (quick and agile), attractive interest rates (starting from 5.50%), personalized attention, assistance in document processing, a term of up to 30 years, and much more. - Banco General
Whether you're looking for a new home with the Preferential Interest Law, a second-hand home, land purchase, or another residential project, Banco General provides various options for mortgage loans. Currently, there are financing plans that cover from 50% to 98% of the sale price, with payment ease for up to 30 years. - Banco La Hipotecaria
Currently, this bank allows you to access mortgage credits for new or used homes with a sale price not exceeding $180,000. - Banco Nacional de Panamá
Banco Nacional de Panamá offers different plans to access a mortgage loan. You can acquire a loan (in balboas) for a period of time between 25 and 30 years, with a maximum amount of B/. 500,000 (depending on the product) and an interest rate ranging from 0.00% to 7.00%. - Banco Mercantil
Regardless of whether you are Panamanian, a resident, permanent, or a foreigner, Mercantil provides financing that covers up to 90% of the final sale price of your home. Likewise, you will have access to personalized service, and they will facilitate the approval process for you. - Banistmo
This bank offers you a mortgage loan that can cover financing of up to 95% of the value of the home you are interested in. Additionally, they provide personalized advice and an option for insurance plans for the mortgage on your residence. If you are already a client with payroll at Banistmo, you will receive some special benefits. - Banesco
Banesco offers various options for housing loans with a very easy approval process. They also provide a preferential interest rate, a life insurance policy that covers 100% of your loan, with financing options of up to 98% of the value of your home. - Scotiabank
At Scotiabank, they offer different plans and conditions to acquire financing so you can fulfill the dream of getting your new home. Currently, you can access a loan that covers up to 90% of the value of your house and with monthly payments amortized over 30 years. Whether you already have an account at the bank or if you are a new client, they offer you the credit you need to buy your home. - Caja de Ahorros
Caja de Ahorro allows you to find different loans that meet your needs. If you acquire one of their plans, you could receive up to 98% financing for your home (it will vary according to the residence you buy: new, used, summer home, etc.), personalized advice, simple processing, and the possibility of having terms of up to 30 years to pay. - Global Bank
If you explore the Global Bank website, you can analyze more about the various benefits it offers regarding mortgage loans. Some of the highlights include financing between 70% and 95% for the purchase of your home, simple processing, advice from experts, free appraisals, and terms to pay for up to 30 years.
Additionally, it's worth noting that Hipotekya works with all the major banks in Panama and can assist you in securing a mortgage loan with the best conditions tailored to your profile.
Last update: 11/05/2024