Getting a loan in Colombia

A difficult mission for expats

Getting a loan in Colombia

Getting a loan for a mortgage or for other financial reasons can be quite difficult for expats. There are however, some circumstances that may permit you to get a bank loan.

Mortgages and financing

The current mortgage rate for property is between 15-18% per year. This is usually a short term loan of 5 to 15 years and are given mostly to only Colombian nationals. Direct financing is not available for foreigners in Colombia.

Although it may be difficult to get a loan as an expat, some banks will grant you one if you meet the following conditions:

  • You are married to a Colombian national
  • You have been living in Colombia for more than six months
  • You plan to buy for living and not as second home
  • You already have a local bank account

Further reading

Does this article help?

Do you have any comments, updates or questions on this topic? Ask them here: