Episode 10: Financing Your Belize Purchase — What's Real and How Buyers Actually Do It

If you're planning to stroll into your bank at home, ask for a 30-year mortgage on a condo in Belize, and call it a day—this episode is going to save you a very awkward conversation.

In This Episode:

• The reality of Belize bank financing
• Seller and developer financing options
• How most foreign buyers actually pay
• David's recommendations for smart financing
• Myth of the Week: "I'll just get the same kind of mortgage I have at home"
• Listener Question: "Is seller financing safe or scammy?"
• Deal Spotlight: A smart HELOC strategy that worked

The Reality of Belize Mortgages:

Belize banks do lend, but expect:
• 40-50% down payment
• 10-12% interest
• 10-15 year terms with balloon in 5 years
• Slow, picky approval process

Your bank back home? They don't want to lend on foreign collateral they can't easily take back.

Seller/Developer Financing:

• 30-70% down, seller finances the rest
• 6-10% interest rates
• Sometimes amortized 20-30 years with balloon in year 2-10
• Faster than banks, less paperwork
• Watch out for balloon payments sneaking up on you

How Most Foreign Buyers Actually Pay:

1. Cash — Sold something back home, saved, or invested. Clean, simple, strong position.
2. HELOC/Cash-Out Refi — Use home equity back home. Often lower interest, Belize property stays unencumbered.
3. Seller/Developer Financing — Smaller upfront, higher rate, shorter term.
4. Partnerships — More buying power, also more humans to coordinate.

David's Recommendations:

• Cash: If you can do it without wrecking your life, do it.
• HELOC/Refi: Make sure you can handle the payment from existing income. Treat Belize rental income as bonus.
• Seller Financing: Make sure the balloon is realistic. Get a Belize lawyer in the middle—no exceptions.
• Partnerships: Get everything in writing. Vet your partners.

Deal Spotlight:

Client with U.S. home equity took a HELOC at a decent rate, paid cash for a $350K Placencia condo. Budgeted HELOC payment from regular income, treated Belize rental as extra. Result: self-paying vacation home and real Plan B—no house of cards.

Series Recap (Episodes 1-10):

✓ Who David is
✓ Why Belize is on the table
✓ Key regions and who they're for
✓ How buying actually works
✓ Real costs beyond sticker price
✓ Who Belize is right for
✓ What different budgets buy
✓ Biggest mistakes to avoid
✓ How to structure your purchase
✓ How people actually finance

Connect:

📧 david@1stchoicebelize.com (put "PODCAST QUESTION" in subject)
🏠 RE/MAX 1st Choice Belize

Coming Next: Property management, rental strategies, tax planning, expat life, and real case studies.]]>