Banking & Mortgage Guidance for Buying in Aruba

Lionel Croes
Jun 17
2 min read

We are here to Guide Your Investment with Confidence.

Whether you're a non-resident or new to the island, Objective Realty is here to walk you through the essentials of banking and financing in Aruba, helping you get one step closer to owning your dream home.

Opening a Bank Account in Aruba

To begin your real estate journey, you’ll first need to open a local bank account. This is essential for day-to-day transactions and, in most cases, a requirement for applying for a mortgage.

Requirements for Non-Residents or New Residents:

Valid passport and driver’s license or national ID
Two original bank reference letters from well-known financial institutions
- (Alternative: One bank letter + one reference from a reputable attorney or law firm)
In-person visit to the Aruban bank (accounts cannot be opened by mail)
Signed Source of Funds Declaration (provided by the bank)
Completed Transaction Profile detailing your expected account activity
Salary slip and/or letter of employment
Final account approval is subject to the bank’s Compliance Officer

Getting a Mortgage in Aruba

Many buyers choose to finance their property with a local mortgage loan. While loan products vary by bank, the following is a general overview of what to expect.

Mortgage Features:

Up to 60% financing based on appraised market value or construction estimates
Terms ranging from 7 to 30 years, usually ending at retirement age (65)
Variable interest rates between 7.25% and 9% annually
Up to 6 months grace period (for construction projects)
Funds disbursed in phases, with construction inspections required
Fire insurance with flexible payment plans
A 1–2% closing fee based on the loan amount

Standard Requirements:

Minimum age: 21
12 months of verified income (via W-2s, tax returns, or certified accountant’s statement)
Two financial reference letters from banks or investment firms
Copies of passports & IDs for both applicant and spouse
An appraisal report by a certified Aruban appraiser (valid within 6 months)
40% down payment of the sale or construction value
Fire and life insurance with the bank listed as the first beneficiary
A registered mortgage deed issued in Aruba
3 months’ worth of mortgage payments held in a local savings account (earning ~4% interest)
All payments typically made via a local checking account

Why Work with Objective Realty?

At Objective Realty, we do more than sell homes.

We help you navigate every step of the investment process.

We'll connect you with trusted banks, brokers, insurance providers, and legal professionals so you can feel fully supported, from your first inquiry to the day you get your keys.

Ready to invest in Aruba? Let’s talk.