Venezuela » Mortgages

In Venezuela you will find mortgage banks, savings banks, and "universal" banks that offer mortgages. The universal banks are those that can perform all the operations according to the General Law on Banks and Other Financial Institutions of Venezuela.

The interest rates make borrowing unaffordable rung as high as 35%. In majority of cases, buyers must pay for properties in cash in the preferred currency, the U.S. dollar.

There is no regulated prevailing rate for commissions for real estate brokers in Venezuela. The rates tend to be 3% - 5% of the total transaction which are paid by the seller.