How much money do I need beyond the home's price?

The advertised price is only the starting point. Request a written breakdown showing what you must contribute, when it is due and which expenses are included in financing.

1. Down payment and reservation

   Confirm how much the bank will finance and your own contribution. Ask whether the reservation counts toward the down payment and what refund terms apply. Do not count a reservation twice if it is already part of the down payment.

2. Transaction expenses

   Ask about appraisal, bank fees, legal fees, notary and registration expenses, as applicable. Clarify what you pay, what the seller pays and what a promotion covers. Charges vary by transaction.

3. Costs of living in the property

   Consider applicable insurance, PH maintenance fees where relevant, utilities, moving, repairs and furnishings. Keep a contingency reserve and confirm which items the quoted monthly payment actually includes.

Illustrative example for a resale home: if it costs $100,000 and the bank confirms financing of $90,000, you would contribute $10,000 toward the price, plus expenses payable separately. This is an assumption, not a mandatory down payment or a bank offer. For a new-build home, the scenario may differ: financing percentage, down payment, interest rate and monthly payment depend on the bank, the buyer’s profile and whether Panama’s preferential interest subsidy scheme applies. A newly built home does not automatically qualify; current eligibility requirements must be met. Obtain a quotation for the specific property and your circumstances before estimating how much you need.