For those looking to buy a vacation property in the Caribbean, in a place that has it all, look no further than Paradise Island. A short drive (or walk) across the bridge from Nassau, Paradise Island is the playground for the wealthy. Although out of range for most buyers, Paradise Island is the crown jewel of The Bahamas for those that can afford it!
Paradise Island, Then and Now
Once known as Hog Island, this little island has grown from a secluded and untouched piece of property to a world class tourist destination. Likely best known as the home for the Atlantis Resort, Paradise Island is much more. The Ocean Club Estates and Atlantis Marina are what draw many of the elites to this little piece of paradise.
Opulence and luxury are everywhere on Paradise Island. From the private mega yachts to the luxurious mansions in Ocean Club Estates, this Bahamian utopia is the ultimate hideaway for the super wealthy.
Financing Options on Paradise Island
For those looking to finance a property on Paradise Island, a number of options exist. Carib Capital is able to offer both qualifying bank mortgages (jumbo loans) and non-qualifying private financing. Often qualifying for large mortgages can be difficult in the Caribbean, so by far our most common financing option is our non bank loans.
With either option, we are only able to finance 50% of the value. For any higher loan to value, you will have to deal directly with a local bank, however these loans are not approved often, so prepare for a long and frustrating process.
Our non bank financing options start at 8% interest, plus fees. It is not cheap to finance properties in paradise, however we can promise you it will be much easier than other financing options should they exist.
Talk to us today about all our financing options on Paradise Island!
