Owner's financing

What if...

....you are ready to come to Ecuador and start your "new" life on the beach in a way you always dreamed of but always seemed unreachable?

You have considerable funds and a steady income and, should a reasonable Mortgage would be available to you, it would extend your buying power and you could "pay as you go" as you have done probably with your current home.

Unfortunately local banks don't offer mortgages to foreigners.

To overcome this challenge, Casa Ola's owner is offering a couple of interesting Owner's financing options:

Purchase price : $159,000

High down-payment option Down payment: $99,000 ; Mortgage $60,000

10 year fixed, Interest 1.9% 120 monthly payments of $551.81

total interest paid: $6,217.45; total payments: $165,217.45

Buyer will receive title to the property immediately, Note will be recorded in the deed.
Buyer pays closing cost.
Payments need to be made in US$ to an US bankaccount
Buyer keeps property insured with seller as beneficiary for the balance of the note(principal).
Buyer provides a Term Life insurance covering the balance of the note (principal) with seller being the sole beneficiary. "Decreasing Term" possible.
Buyer pays realtor´s fees, if applicable

Low down-payment option Down payment: $59,000 ; Mortgage $100,000

10 year fixed, Interest 2.9% 120 monthly payments of $965.15

total interest paid: $15,817.51; total payments: $174,817.51

Buyer will receive title to the property when payments reaches 75% of the selling price., Note will be recorded in the deed.
Buyer pays closing cost.
Payments need to be made in US$ to an US bank account.
Buyer keeps property insured with seller as beneficiary for the balance of the note(principal).
Buyer provides a Term Life insurance covering the balance of the note (principal) with seller being the sole beneficiary. "Decreasing Term" possible.
Buyer pays realtor´s fees, if applicable.