FAQ

A: For us at The Expat Mortgage Broker to efficiently negotiate the best mortgage options for you, we will require several key documents that banks commonly ask for based on our extensive experience. Initially, we will send you list of these requirements. It's essential that you gather and forward these documents to us. Once we receive your documents, our team will meticulously analyze them. Through our evaluation, we will identify and contact banks that are most suitable for your specific financial profile and needs. This thoroughness ensures that we can negotiate the most favorable mortgage terms tailored just for you.

As soon as we have the documents analyzed and target bank have been chosen we contact the banks to present your case and start negotiations.

When negotiations with the banks have concluded we forward the document to the specific bank for further analysis. The bank normally has follow up questions which we seek clarifications. When all document have been approved we negotiate terms based on best outcome for our client. At no point the client is involved in the negotiations and will not be informed until negotiations have been concluded.

All clients apply as log as you have the documentation in order. Even though our services are targeting expats we also help out locals and investors. Before the process of finding a mortgage solution we will discuss your situation and your needs. Based on these answers we will evaluate what we can do for you.

We will continue negotiate with the bank and at the same time we will be reaching out to other banking institutes to see if there are better terms to be found. Likely outcomes from our negotiations will be known by the client before we start negotiations and rarely there are any major surprises at last minute that will make a client retract from the process.

Pre-approval is a legal document that the bank provides the client as proof that the bank has committed to provide the mortgage according to the conditions stated in the pre-approval document. Generally the bank can not go back on the terms provided in this document.

We have so far been able to provide a pre-approval letter within 7 days from the time the last document which the bank has required in 100% of our cases. Normally this process takes up to 8 months when clients go directly through banks.

We normally analyze thoroughly all documents before we start the process with the banks. Our experience helps us catch such issues upfront. In most cases we are able to find an alternative document that can provide the same information that the bank is looking for. In case the bank need a local document we will assist in getting the documents if they are to be locally sourced. In certain cases we can obtain better interest rates if the client has a document that connect him or her to Panamá.

The price of the service will be provided at the time we communicate for the first time. The fee is only applied at the time we have the pre-approval ready at hand with all conditions from the bank agreed upon. In circumstances where we are not able to achieve a pre-approval the process will bear no cost for the client. We have for now a 100% approval rate. On the other hand, when the pre-approval is obtained we will require the fee to be paid before we hand you over to the bank to continue the process.

A few things can halt the process after the pre-approval has been obtained. One thing is if you have given false or incorrect information which the bank has based the approval upon. This is not at thing we have experienced. Another is if you don't pass the medical exam that the bank will require of you. It is worth noting that this exam must be done in Panama and in rare cases the bank accepts other examiners than those they will recommend.