Mortgage Requirements in Aruba: What Documents You’ll Need (2025 Guide)
A complete mortgage documents checklist for Aruba — for residents and non-residents.
1. What Are the Main Mortgage Requirements in Aruba?
Banks need to confirm who you are, how you will repay the loan, and what property you’re buying. Requirements vary slightly for residents and non-residents, but identity, income, and property documents form the core of every application.
2. Core Documents Every Applicant Needs
| Document | Purpose | Notes |
|---|---|---|
| Valid Passport or ID | Confirms identity | Residents and non-residents |
| Recent Payslips (3 months) | Proof of income | Self-employed need financial statements |
| Employer Letter / Income Verification | Confirms employment and salary | Dated within 30 days |
| Bank Statements (3–6 months) | Shows savings and income flow | Especially important for foreign buyers |
| Credit Report | Confirms financial reliability | From home country if non-resident |
| Tax Return or Annual Statement | Verifies income consistency | 1–2 years typically required |
| Purchase Agreement | Confirms agreed sale | Signed by buyer and seller |
| Appraisal Report (Taxatie) | Determines property value | From approved local appraiser |
| Proof of Down Payment | Shows funds ready | Typically 25–40% of price |
| Home Insurance Quote | Required for approval | Usually arranged via the bank |
3. Mortgage Requirements by Bank
Aruba Bank
- Application form, ID copy
- Payslips (3 months) + employment verification
- Bank statements (6 months)
- Appraisal by approved appraiser
- Purchase agreement
- Down payment proof (35–40%)
- Self-employed: audited financials (2 years)
- Non-residents: foreign credit report, bank reference, proof of assets
RBC Royal Bank
- Valid ID, income proof (3 months)
- Tax returns (2 years), bank statements (3 months)
- Appraisal report and signed purchase contract
- Down payment minimum ~35%
- Home insurance policy
- DSR check: total debt ≤ ~40% of income
4. Mortgage Checklist for Aruba
Personal Identification
- Passport (valid)
- Proof of address
- Credit report (home country if non-resident)
Income Verification
- Payslips (3 months)
- Employer letter / Income verification
- Tax returns (last 2 years)
- Bank statements (3–6 months)
- Financial statements (for business owners)
Property Documents
- Signed Purchase Agreement
- Appraisal report (local appraiser)
- Proof of down payment
- Home insurance quote
Additional (if applicable)
- Marriage certificate (buying jointly)
- Residency or work permit (for residents)
- Reference letter from your bank
5. How Long Does the Mortgage Process Take?
- Pre-approval: 3–5 business days
- Full approval: 2–3 weeks
- Closing: 4–6 weeks after approval
Tip: Fastest approvals come from complete document packages.
6. Typical Down Payments and Terms
- Residents: 20–25% down payment
- Non-residents: 35–40% down payment
- Interest rates: ~5%–7% (USD)
- Loan terms: up to 30 years (residents) / 15–20 years (non-residents)
7. Common Mistakes to Avoid
- Applying without a valid appraisal report
- Forgetting to include tax returns
- Assuming a foreign credit score automatically transfers
- Waiting to check eligibility until after selecting a property
Pro tip: Contact the bank for pre-approval before making an offer.
8. Frequently Asked Questions (FAQ)
Can foreigners apply for a mortgage in Aruba?
Yes. Both Aruba Bank and RBC Royal Bank offer mortgages for non-residents, usually with a 35–40% down payment.
Do I need to live in Aruba to get a mortgage?
No. You don’t need to be a resident, but banks will require extra documentation like a foreign credit report and proof of income.
Can I use my foreign bank account for payments?
Yes, most banks allow international transfers and USD payments from overseas accounts.
How long does approval take?
Typically 2–3 weeks once documentation is submitted and verified.
Do I need a local notary?
Yes. All property transactions must be processed through a local notary.