Greetings,
I am interested in buying a property in Rio.
Could you please help me find financing for property in Brazil. I am an American living in Miami, FL.

Thanks
Steeler

Hello Steeler,

Financing is hard to come by in Brazil, especially for a foreigner. Even if you manage, by some miracle, to get a mortgage, I sincerely doubt that you´d be happy paying 5-6% in interest... per month.

Most of the people from the States who opt for financing obtain it back home through second mortgages, private loans, CC debt... and then buy property for cold hard cash in Brazil.

Some opt to buy property in construction that can come with some type of financing available directly from a developer. Reasonable deals can be had in Barra and Recreio.

Regards,
Boris

Steeler,

Boris is 100% right, you will not get a loan based on a five to seven porcent interest rate in Brazil. However, there are many pre-constructions in Rio where the developers will finance it to you directly. For example, we have a few developments "na Barra" where you will pay 20% down, 20% during construction and balance financed throughout the developer in fixed Reais, meaning you may or may not count with the appreciation of the dollar, which is expected to be around 15% this year, therefore you annual APR will be relatively low.

Jose C. Santiago
Multinvest International Realty, São Paulo - Brazil
Affiliated - Licensed Attorney
Phone: (11)9348-5729
Elite International Realty, Miami - U.S.A.
Associated - Licensed Real Estate Salesperson
Phone: (800)983-7060

did you ever find out how to finance your property in brazil. let me know thanks kathy

Kathy, it all depends on a series of things, such as location, price and down payment. Some developers have better options compared to banks, but these are for new properties or pre-construction only, for example Gavisa have very good options in SP and RJ.

Jose C. Santiago
Licensed Attorney - Brazil