Yes!!  Mortgages are available here in Panama on your vacation property or second home.  Although it is possible to finance directly through the banks, the best way is to go through a mortgage broker.   The reason is that there is a large abundance of paperwork and hoop jumping required.  There is nothing worse than starting the process with HSBC and getting close to the finish line 1 month down the road and finding out that there is one condition you cannot meet with them, but do not require with Scotiabank.  If only there were someone who knew that condition before hand and could direct you to the right bank to save a lot of time!

That's where a great mortgage broker comes in handy here in Panama.  To save timely delays and mistakes, and to keep your business in the right hands.

Here are a couple things you need to know about a mortgage with a bank in Panama:  

About the best rate is 6.5%, and they do not lock in...  Every mortgage that I know of here is variable.  

Life insurance is mandatory.  Unless you can guarantee the loan with cash.

If you are relocating, things get a little more difficult, so this is only a vacation residence.  

You will need to have an income and have to proove it.  Even if you are independently wealthy, a bank here is going to want to see how you are paying the bills.

The maximum age to hold a mortgage is 75.  That means that at the age of 75, you have to be mortgage free.  So, if you are 55, you can get a 20 year mortgage, if you are 65, 10 years, and if you are 70, it's difficult.

Ok, that is all I know about the mortgages, and it is not very much, so let me know if you need more info and I can get it; I also work with some great mortgage brokers, so this part becomes so easy with the right people on the job.

If you don't think a mortgage is right for you, and you want to keep your nest egg in it's current investment vehicle, then another option is to buy from a developer.  Some of them will finance their projects with as little as 10% down!!