Mortgage from a US Bank

A prestigious international bank based of Florida has just approved mortgages for US citizens purchasing property in Panama. This is the first of several banks who are in the process of establishing international mortgages in Panama.

(Beach in Panama – Own Your Piece of Paradise)

FIRE AND TITLE INSURANCE will be required to obtain a mortgage from this bank.

To get more information how to obtain a Mortgage from a US Bank or to get a quote, contact our customer service department at forlacol@gmail.com or by phone (507) 6780-5050.

Fire Insurance

 

Covers the structure of a property - roof, walls, and ceiling. Rates depend on the material used for construction (cement, mixture of cement/wood, or wood) and the location of the property (urban or rural areas). Fire protection covers you for catastrophic damage - earthquake, hurricane/windstorm, lightning, explosion, falling objects/vehicle impact, smoke damage, and debris removal. Flood and landfall can be included in this policy.

 

~ Your maintenance fee does not include fire damage.

~ Fire insurance is required by banks in order to obtain a mortgage.

 

Home Owner’s Multi Risk ~ Content + Fire Insurance

 

Protects the content of a property to a certain percentage (25, 50, or 100%) for theft. This policy can also protect you from theft outside your home, breakage of mirrors/crystals, electronic equipment, and civil responsibility (including fire).

Claims are based on good faith here in Panama, but it is recommendable to keep the receipts in case of a claim. Claims are based on depreciated value of objects.

 

~ Renters can apply for Home Owner’s coverage.

~ Companies give a 5% discount if you pay the full premium.

 

To get more information on Home Owners or Multi Risk Insurance or to get a quote, contact our customer service department at forlacol@gmail.com or by phone (507) 6676 5151.