Foreigner BUY An Apartment With Colombian Credit

In this video, I go over how a foreigner can buy an apartment in Medellin with a Colombian mortgage credit. 🏡 Buy Real Estate with Andrew: https://www.medellinmasterclass.com/r... Highlights 💳 Foreigners can buy property in Colombia using Colombian credit without needing a visa or Colombian ID. 🏦 To leverage the bank, one may need to open a Colombian bank account using a passport and obtain a tax ID number (RUT). 💰 A 30% down payment is required for property purchases, which can be paid over two years without interest. 🏗️ Constructor financing allows buyers to pay the down payment gradually during construction. 📉 Mortgage loans cover 70% of the purchase price, with a typical 15-year term and interest rates around 18%. 📝 Additional costs include closing costs, legal fees, HOA fees, and property taxes. 🏠 Property prices vary based on finishing preferences, with options to customize or buy finished properties. 📈 Leveraging the bank can provide flexibility in payments and help establish credit in Colombia. 🔍 Legal consultation, especially regarding property registration and compliance, is crucial. 🚫 Illegal Airbnb operations face crackdowns by Colombian authorities, emphasizing the importance of legal compliance. 🛎️ Leveraging the bank can help buyers manage cash flow and potentially accelerate property payments. #medellin #colombia #medellinapartment