Good day all,
I see many post on this site about buying property and or renting. Can someone shed some light on the price and availability of property insurance?
Thanks
House Insurance
10
479
Hello,
I have some basic info.
For a new house around $60.000 with a 15 years loan with the bank, the insurance would be around $30 a month.
What exactly the insurance cover, no clue.
Vinny
8
ok Vinny, Where do you get a mortgage??? I'm told that everything is cash!
479
You can get mortage from any ecuadorian bank, but first you need you resident or investment visa.
Some banks, like Pichincha has offices in the US so you can open an account there to do the payments. Or once you're in Ecuador open a bank account and make direct payments.
Also checks are the most common way to do payments.
Vinny
8
interesting - what kind of interest rates can be expected?
479
For first time home buyers is around 11% and for the others around 16%
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