GENERAL CONDITIONS:

1. Appraisal of property being financed. Cost of appraisal will be assumed by bank. Bank's percentage of financing is based on the lower of the appraised value or purchase price.

2. Opening of a saving or checking account, through which, the loan payments will be deducted.  The account should maintain a minimum balance equal to three monthly payments.

3. Borrower's life insurance for the amount of the loan endorsed to the bank.

4. Fire insurance policy covering 80% of improvements made to the property given as security.

5. Borrower to cover legal and registration expenses.

DOCUMENTATION REQUIRED:

1.  Job letter and copy of two pay slips (for borrowers currently earning a salary).

2.  Copy of the last two income tax returns and/or audited financial statements.

3.  Two picture identification cards.

4.  Asset verification (copy of bank account statements, real estate titles, bonds, common stock, etc.)

5.  Copy of Purchase and Sale Agreement

6.  Two copies of public utility bills of your current primary residence (water, phone, electricity)

7.  Two bank reference letters from recognized banks, addressed to Panama bank.

8.  Copy of a Reference Credit Report from your country of residence (Equifax or Transunion for USA or Canadian residents).

Note: The amount of loan will determine the percent of loan to value. Also, the age of the borrower cannot exceed 75 years.