World Lending Group
Financing for Foreigners in Colombia
World Lending Group finances foreign buyers who want to purchase property in Medellín without paying 100% cash.
Who qualifies
You are a good fit if all of the following are true:
- You are a U.S. citizen or other foreign national. Colombian residency or a cédula de extranjería is not required; a valid passport is enough.
- You can put down at least 50% of the purchase price from your own funds.
- You have verifiable income or assets, from anywhere in the world, that comfortably cover the monthly payment.
- You can pass standard identity, anti-money-laundering and credit checks.
You are not a fit if you are looking for low-down-payment or no-down-payment financing, or if you cannot document where your down payment comes from.
Loan terms at a glance
| Term | Detail |
|---|---|
| Maximum loan-to-value | Up to 50% of the purchase price or appraised value, whichever is lower |
| Interest rate | Fixed, typically 15.75%–17.95% per year depending on profile, LTV and term |
| Loan term | 3 to 15 years |
| Payment structure | Interest-only monthly payments with the principal due at maturity (balloon); amortizing options available on request |
| Currency | U.S. dollars (USD) |
| Origination fee | 3% of the loan amount, paid at closing |
| Prepayment | No prepayment penalty after month 12 |
| Security | First-position mortgage (hipoteca de primer grado) on the property, plus a promissory note (pagaré) |
| Time to close | 15–30 days after we receive all documents |
Example: On a USD 250,000 apartment, you put down USD 125,000 and WLG lends USD 125,000. At 16% interest-only, the monthly payment is USD 1,666.67. The 3% origination fee is USD 3,750. The USD 125,000 principal is due at the end of the term, or earlier if you sell or refinance.
All terms are indicative and subject to underwriting, appraisal and legal review. This brief is not a loan offer or commitment.
Eligible properties
WLG finances residential apartments and houses in Medellín and the surrounding Valle de Aburrá, for use as a home, second home or rental investment.
Buying a unit under construction: A Colombian mortgage can only be registered once a unit has its own title number (matrícula inmobiliaria) and is deeded to you. That means:
- You get pre-approved now, so you know exactly how much WLG will lend.
- During construction you pay your deposit and installments to the developer under the project's normal payment plan.
- WLG funds the remaining balance at delivery, when the deed (escritura) is signed and the mortgage is registered at the same time.
WLG does not lend on land, commercial property or properties with unresolved title issues.
Documents you will need
Have these ready before you apply; it is the fastest way to get pre-approved.
| Category | What to provide |
|---|---|
| Identity | Valid passport; cédula de extranjería if you have one |
| Income | Last 30 days of pay stubs, or last 2 years of tax returns if self-employed or retired; pension or Social Security award letter if applicable |
| Assets and down payment | Last 2–3 months of bank statements showing your down payment funds; investment or retirement statements if applicable |
| Credit | Signed credit authorization (we pull the report) |
The property documents (title certificate, appraisal, building rules, property-tax clearance) are handled between WLG, the developer and the notary.
How it works
WLG handles the entire process directly with you, from application to closing.
- Apply. Fill out the pre-qualification form. WLG will contact you, usually within 2 business days.
- Pre-approval. Once we have your documents, we issue a pre-approval stating the maximum amount we will lend.
- Choose your property. Work with your agent to select the property you want to buy.
- Closing. WLG orders the appraisal and legal review, then the deed and mortgage are signed together at the notary. Funds go directly to the seller or developer, never through a third party.
Legal structure
You own the property outright in your name from day one; WLG holds a registered mortgage until the loan is repaid.
- Title: The property is deeded to you (or your Colombian company, if you use one) by public deed at a Colombian notary.
- Mortgage: A first-position hipoteca is signed in the same deed and registered at the Oficina de Registro de Instrumentos Públicos.
- Promissory note: You sign a pagaré, the standard Colombian loan instrument.
- Payoff: When you repay the loan, WLG signs a release and the mortgage is cancelled on the title.
We recommend you have your own Colombian attorney review the documents; we can refer one if you need it.
Payments and closing costs
Payments are made monthly in U.S. dollars, so you can pay straight from your U.S. or home-country bank account with no currency conversion on your side.
Budget for these costs on top of your down payment:
| Cost | Typical amount | Paid to |
|---|---|---|
| WLG origination fee | 3% of the loan amount | WLG, at closing |
| Notary, registration and mortgage taxes | Varies with price; ask WLG for an estimate on your property | Notary and government registry |
| Appraisal and legal title review | Fixed fee, quoted before you commit | Independent appraiser and attorney |
Loan-related third-party costs (appraisal, title review, mortgage registration) typically run 2%–4% of the loan amount, on top of the origination fee.
Frequently asked questions
Can I borrow more than 50%? No. WLG lends against the property, and a 50% maximum is what keeps rates and paperwork reasonable.
Do I need to live in Colombia or have a visa? No. A valid passport is enough to borrow and to own property in Colombia.
Do I need a Colombian credit score or bank account? No. We review your home-country credit and income. A Colombian account is not required to make payments.
Is my credit score a deal-breaker? Not by itself. The down payment and the property carry most of the weight, but we do review credit and will decline serious recent defaults.
Can I rent the property out? Yes, as a long-term or short-term rental, subject to the building's rules. Rental income can help you qualify.
What happens at the end of the term? You repay the principal in one payment, typically by selling, refinancing or paying cash. You can repay early at any time after month 12 with no penalty.
Can I finance a resale apartment? Yes, if the property meets our title and appraisal requirements.
Is a pre-approval a guarantee? No. Final approval depends on the appraisal, legal review and confirmation of your documents. Pre-approval tells you your realistic maximum.
Next step
If you meet the requirements above, fill out the pre-qualification form. Please apply only if you have at least 50% of the purchase price available.
By submitting the form, you agree that WLG may contact you about your application.
World Lending Group S.A.S.
Brian Herron, Founder and CEO
brian@worldlendinggroup.com · WhatsApp +57 314 488 3282
El Poblado, Medellín