Up until early 2000, property purchases on Ambergris Caye were either cash purchases or were a combination of cash and Owner financing. Owner financing depended on the financial needs of the owner and several years ago, a "10/10/10" deal - 10% down, 10% interest, 10 year amortization was not uncommon. As the market values of properties were increasing between 10% and 25% per year, owners soon realized that such financing was not in their best financial interests! Some owner financing is still offered but terms today range from 30% to 50% down, 8% - 10% interest, amortized over 5 to 10 years but with a 3 to 5 year full balloon payment....full payout!
Now we have several "international" banks which offer loans in US dollars to foreign purchasers. As foreigner purchasers will not bear the 12% to 14% interest rates the local banks were charging, these international banks offer rates between 9.0% and 9.5% good rates by local standards but still significantly higher than US or Canadian rates. Contact information and application forms for these international banks are available through Century 21 - CBR.