A mortgage in Colombia for those living abroad
Rates, requirements and real timelines for expat buyers returning to Medellín — and the mistakes that cost the most when financing from abroad.
Returning to Medellín and buying from abroad is perfectly doable — but the mortgage for non-residents has its own rules worth understanding before you fall for a property.
Rates, terms and documents change with your immigration status and where you earn your income. These are the points that cost the most when they aren't planned in time.
What to expect from the bank
For buyers earning abroad, most banks finance up to 70% of the appraisal, over 10 to 20 years. The rate is usually a couple of points higher than for residents, and they'll almost always ask for local credit history or a co-signer.
Not quoting insurance and the mortgage tax
The loan amount isn't the cost of the loan. Add the credit study, bank appraisal, life and fire insurance, and the mortgage tax (0.5% of the loan). All in, $6M to $12M worth quoting before you sign.
Advisor at Propiedades Luxur. He guides expat buyers returning to Medellín, focused on financing and closing from abroad.
¿Listo para hacer la cuenta de tu compra?
Cuéntanos qué buscas. Te armamos el presupuesto real — con costos de cierre incluidos — antes de que ofertes.
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