Panama Mortgage Calculator

Frequently asked questions

How is the monthly payment calculated?

The loan is the price minus your down payment, repaid in level monthly payments at the annual rate plus any FECI, divided by 1,200 each month. If preferential interest applies, the lower rate sets the payment for the subsidy years and the payment is recalculated at the bank's rate for the rest of the term. Property tax, insurance, PH fees and bank handling are added on top. It is an estimate, not an APR or a bank quote.

Who gets preferential interest in 2026?

Under Ley 468 and Ley 481 de 2025, loans from 1 January 2026 for a new home up to $120,000, bought as a principal residence by a Panamanian or permanent resident with no home in the Registro Público. The state pays the lower of the tier rate and 85% of the bank's rate: in Panamá and Panamá Oeste 5 points for 8 years up to $50,000, 4.5 points for 7 years up to $80,000 and 4 points for 7 years up to $120,000; elsewhere 5.5 points for 8 years up to $80,000 and 4 points for 7 years up to $120,000. It is available once in a lifetime.

When does FECI apply to a mortgage?

Ley 4 de 1994 charges 1% FECI on personal and commercial loans over $5,000 and excludes housing loans. In practice banks add 1 point on second homes, vacation homes and land, and Banco General and Davibank also add it for foreign buyers without permanent residency. A few tariffs print it on every product, and the calculator follows the bank's own sheet.

What closing costs does the buyer pay?

The bank's closing commission (published from 0.25% to 2%, plus 7% ITBMS), the appraisal, lawyer and notary fees, and Registro Público fees of $10 plus $3 per $1,000 for the deed and again for the mortgage, from its 2013 tariff. The 2% transfer tax and the 3% capital gains advance are paid by the seller. Every amount is editable.

How is property tax estimated?

With the Ley 66 de 2017 scales, using the price in place of the cadastral value. A principal residence pays nothing up to $120,000, 0.5% on the part up to $700,000 and 0.7% above. Other property pays nothing up to $30,000, then 0.6%, 0.8% and 1% above $500,000. A new first home valued $120,000 to $300,000 is exempt for three years.

Are the bank rates live?

No. They are copied by hand from each bank's own tariff or rates page, last checked 2026-09-13, and each row links its source. Banks print rates differently (exact, "from", ranges and ceilings) and price each borrower, so they are references for a scenario. The market average is the Superintendencia de Bancos figure for non-preferential housing loans, 2026-07.

Can I share or print my estimate?

Yes. The page address updates as you type, so copying the link, sending it by WhatsApp or email reopens the same scenario. Print or save as PDF for a one-page summary with the yearly schedule, and export the monthly schedule as a CSV file.