Best banks to deal with in Puerto Rico

vriefkohl Member

Member since 03 March 2021

vriefkohlMember15 April 2021 21:33:04

Planning to buy a home in Puerto Rico. Any recommendations of best banks to deal with while living outside the island?

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Hernandez Perez Realty Active member

Member since 05 April 2021

Hernandez Perez RealtyActive member15 April 2021 21:43:18

Of you are planing on financing a property I recommend (Pentagon Federal Credit Union) you can get a pre-approval from them and have about 90 days to look around and make your purchase. Also since Covid-19 PenFed is the only institution currently in Puerto Rico taking 90 days or less for a closing date. Local banks and credit unions are delay more that 12 months on many cases, I personally know some Realtor Colleagues that have been waiting 13 months, 9 months and 11 months for closing on properties been finance by local institutions.