Financing Information
Financing your home in Puerto Rico is pretty much the same as it is in the States. The same financing choices are available, Conventional, FHA and VA. Interest rates are a little bit lower than in the States due to a tax shelter (tax code 936) given to American corporations that are based in Puerto Rico. The funds generated by this tax shelter, approximately 3 billion dollars, must be deposited in the local banks and are to be used to provide mortgage loans. Thus, interest rates are lower.
Contact your local mortgage banker for more information.
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