Bancaja Mortgage Loans

Who is Bancaja?

The Valencia, Castellón and Alicante Savings Bank, Bancaja, is the most important financing institute in Valencia and headquarters for the sixth largest Spanish financial group--third largest in the savings bank sector in terms of total assets--with great potential for further growth.

How does it work?

Financing Conditions:

Minimum amount to finance: USD $100,000.00
Terms: Up to 20 yrs.
Interest Rate: One year LIBOR + 3 percentage points
Commission for Opening Credit: 1% of the total amount of credit
Amortization: Monthly payment of capital and interest
Guarantee: Prime mortgage or a trust, depending on the buyer’s nationality
Appraisal: An appraisal is required, which must be carried out by Tasaciones Inmobiliarias de México, S.A. de C.V. (TINSA).
Related costs: The client should anticipate paying roughly 5% of the property value for legal counsel, titling costs, notary fees, trust formation fees, registrations, taxes and other expenses

Benefits:

Your loan can be obtained in dollars.
Payments may be made in advance so that less interest is paid and the loan term decreases. In addition, there is no penalization for payments in advance.
The term “LIBOR” refers to the London Inter-Bank Offered Rate, which, due to its stability, is one of the most commonly, used international credits.
Financing offered for up to 70% percent of the property value.
Applicant may be any nationality (provided they are not restricted by the U.S. government).