FAQs

Do I need to be a Panamanian citizen in order to buy a property in Panama?
No, in Panama, foreign national citizens are allowed to purchase properties.

What are my mortgage options?
Financing to acquire properties in Panama is readily available to foreign nationals. GS Mortgage Panama makes the lending process easy. We will walk our clients through the entire lending process, from the moment the application is filed, to closing.

Do Panamanian laws protect foreign nationals when purchasing property in Panama?
Panamanian laws fully protect both Panamanian citizens and foreign nationals.

Do I have to travel to Panama to apply for the loan?
There’s no need; as per your request, GS Mortgage can complete the process for you. Nevertheless, should you decide to make a significant investment, we advice that you travel to Panama so that we may present you with all the different investment options available. GS Relocation can arrange premium lodging at discounted rates. We offer personal 24 hour a day transportation services; from the airport to your hotel, as well as transportation to tourist sites, real estate developments and agencies, etc.

Would I be able to cover my mortgage payments should I decide to rent out my property?
Absolutely; unlike in Europe and the US, where this is not highly feasible, it is possible to do this in Panama.

Why is buying better than renting?
A home is an investment. When you make rent payments, you know that you’ll never see that money again. But when you own your home, you can apply your loan interest payments as a deduction on your tax return. This will save you a lot of money every year, because the interest you pay will represent the bulk of the monthly payments during the years of your mortgage. You can also deduct the property taxes you pay as owner of the dwelling. In addition, the value of your home may increase over the years. Finally, you’ll enjoy knowing that you own a property that you can add your own personal style to.

Is it better to contact a real estate agent?
Contacting a real estate agent is a very good idea. All the details pertinent to buying a property, especially financial ones, are not something you might be familiar with. A good real estate professional can guide you through the entire process, thus, making it easier for you to go through with the process. A real estate agent is familiarized with important information such as details about the location of neighborhood where you are purchasing a property. Your real estate agent is a good ally when it comes to saving you money; they have access to property listings and can help you find a deal that best suits your lifestyle and budget. The agent will explain the advantages and disadvantages of different types of available choices.

How much money do I need in order to buy a property and how do you know if I qualify for a loan?
With our loan calculators, our experienced staff will provide you with all the information you need regarding loan qualifying guidelines. GS Mortgage is well equipped to process loan applications based on each individual’s income and current employment situation.