Home » Chile » Chile – Property Financing

Chile – Property Financing

Mortgages for Foreign Nationals in Chile

Chile, with its stunning landscapes and growing economy, has become an attractive destination for foreign nationals looking to invest in real estate. In this article, we will explore the availability of mortgages for foreign nationals in Chile, identify local lenders that provide mortgage services, discuss deposit requirements for property purchases, and clarify the responsibilities of new property owners concerning outstanding debts on the property.

Availability of Mortgages for Foreign Nationals

Foreign nationals interested in purchasing property in Chile have the opportunity to secure mortgages, though the process may differ from what residents experience. The availability of mortgages for non-residents or foreign nationals can depend on several factors, including the applicant’s financial qualifications and the lender’s policies.

Chile has a well-developed banking and financial sector, and several local banks and lending institutions offer mortgage services to foreign nationals. While non-residents may encounter specific eligibility criteria and requirements, it is indeed possible for them to obtain a mortgage for property purchases.

One of the primary considerations in securing a mortgage as a foreign national in Chile is demonstrating creditworthiness. Lenders typically require applicants to have a stable source of income, a strong credit history, and the ability to repay the loan. The applicant’s financial situation, including debt-to-income ratio, can impact the mortgage approval process.

It’s important to note that specific mortgage eligibility criteria, interest rates, and down payment requirements may vary among lending institutions in Chile. Therefore, foreign nationals should conduct thorough research and seek guidance from financial professionals to explore mortgage options that align with their needs and circumstances.

Local Lenders Providing Mortgages

Chile’s banking and financial industry includes various local lenders that offer mortgage services to both residents and non-residents. Some prominent local lenders that provide mortgages to foreign nationals in Chile include:


Get Our Best Articles Every Month!

Get our free moving abroad email course AND our top stories in your inbox every month


Unsubscribe any time. We respect your privacy - read our privacy policy.


  • Banco de Chile: Banco de Chile offers mortgage solutions to non-residents and foreign investors interested in Chilean real estate.
  • BancoEstado: BancoEstado provides mortgage services to foreign nationals looking to invest in Chilean properties.
  • Santander Chile: Santander Chile offers mortgage products for non-residents and foreign buyers in Chile.

These banks typically have dedicated mortgage specialists who can assist foreign nationals in navigating the mortgage application process, explaining specific requirements, and facilitating the collection of required documentation.

Deposit Requirements for Property Purchases

Deposit requirements for property purchases in Chile can vary based on several factors, including the property’s purchase price, the lender’s policies, and the type of property being acquired. Generally, buyers, including foreign nationals, should be prepared to provide a significant down payment.

It is common for property buyers in Chile to provide a down payment ranging from 10% to 30% of the property’s purchase price. The specific percentage required may depend on factors such as the property’s location, type, and the applicant’s creditworthiness.

Foreign nationals looking to buy property in Chile may encounter higher down payment requirements due to their non-resident status. It’s crucial for potential buyers to inquire with individual lenders or banks regarding their specific down payment requirements and policies related to foreign buyers.

Additionally, buyers should consider other costs associated with property purchases, such as closing costs, notary fees, and property transfer taxes. These additional expenses should be factored into the budget when planning to invest in Chilean real estate.

Responsibility for Outstanding Debts

When acquiring property in Chile, new property owners are generally not responsible for any outstanding debts or financial obligations related to the property that occurred before the purchase. Chile has well-established legal procedures for property transactions that ensure transparency and a clear title transfer.

Before the completion of a property purchase in Chile, a thorough due diligence process is typically conducted to verify the property’s ownership history and ensure that it is free from any encumbrances or outstanding debts. Sellers are generally responsible for resolving any existing debts, liens, or encumbrances on the property before the sale is finalized.

Working with experienced real estate professionals, including real estate agents, attorneys, and notaries, is essential to ensure that all legal and financial aspects of acquiring property are handled correctly. These professionals can provide guidance on the legal and financial aspects of property transactions and can address any potential issues or concerns that may arise during the process.

In conclusion, foreign nationals interested in purchasing property in Chile can generally secure mortgages, subject to specific eligibility criteria and requirements set by local lenders. Prominent local lenders offering mortgage services to foreign nationals include Banco de Chile, BancoEstado, and Santander Chile. Deposit requirements for property purchases in Chile typically range from 10% to 30% of the property’s purchase price, with variations based on property type and creditworthiness. New property owners in Chile are generally not responsible for outstanding debts on the property, as thorough due diligence is conducted to ensure a clear title transfer.


Latest Videos

Expat Focus Financial Update February 2024 #expat #expatlife

Expat Focus 28 February 2024 2:53 pm

This error message is only visible to WordPress admins

Important: No API Key Entered.

Many features are not available without adding an API Key. Please go to the YouTube Feeds settings page to add an API key after following these instructions.